FNB is launching a number of new features in its banking app, including the ability to register for an account by taking a selfie.
This is according to FNB CEO Jacques Celliers, who hosted a media event in Johannesburg this morning to unveil the features.
This follows the bank launching a new online platform – called “nav>> Car” – in 2017 which allows users to renew their car’s licence disc by scanning the disc with their smartphone and paying for the renewal in the app.
FNB said it now has 180,000 vehicles registered on its nav>> Car platform and has renewed 11,000 licence discs since launch.
nav>> Car also let users manage vehicle payments, such as traffic fines and financing.
FNB has now expanded its online toolset with the launch of Switch with a Selfie, a feature which is available to personal and business customers.
By taking a selfie using the tool in the FNB banking app, users can sign up for an account and credit card with FNB.
The app sends biometric data from the image to the Department of Home Affairs and checks the information against the user’s records to verify their identity.
Users can then use the in-app messaging system and calendar to choose the account they wish to open and select a date and time for their card to be delivered to their house.
All verification using the Switch with a Selfie system is paperless, removing the need for proof of address and ID document scans.
Opening an account using the tool requires the user to have an active email address and South African citizenship, and can take less than one minute, said the bank.
FNB said its main objective with the enhancement of its online platform is to increase the effectiveness of its app by delivering features which make customers’ lives easier.
FNB’s new nav>> Money tool will allow customers to better manage their monthly spend, from tracking upcoming payments to monitoring their overall income and expenses.
It includes a Track My Spend feature, which shows users how much money is flowing into their account, checking it against known upcoming payments, and monitoring expenses.
The feature will allow customers to see where they are overspending or using credit sub-optimally, and will deliver money management tips to customers.
The app will also include a My Credit Status tool which intelligently monitors the customer’s credit status, showing them how they are currently ranked and how they can improve their credit score.
Celliers said the data FNB collects on its customers allows it to help users improve their money management skills and leverage a team of experts to provide them with sound financial advice.
FNB said it will also launch a number of new baking app features later this year, including an FNB Pay integrated smart payment service.
FNB Pay will allow businesses and retail customers to scan a QR code and make a payment directly from their FNB profile.
The bank has integrated with numerous platforms to allow easier QR code payments without the need to create separate profiles, it said.
Paying for items using wearable technology will also be available in the coming months.
This will allow customers to purchase products by tapping a compatible wearable device on a payment point after setting it up in the FNB app.
Additionally, the bank said new customisation and funding features, and virtual credit and debit cards, are set to arrive later this year.
FNB added that it would further implement an enhanced fraud management system, improving its ability to combat and efficiently deal with fraud.