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FNB leads with online banking market share

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The latest All Media and Products Survey (AMPS) figures show FNB Online dominates market share of electronic banking consumers, with almost one-third of all online banking customers in the country using FNB Online Banking.

According to FNB Online CEO Lee-Anne van Zyl, FNB’s new-found dominance is attributed to ease of use and the addition of new functionality.

“Online banking has evolved from a transactional platform into a powerful consumer resource. Ease of use and security remain our primary drivers, yet these alone are not sufficient to attract new customers. We add new features monthly without complicating the online experience,” says Van Zyl.

“We have more than 1.2m active Online banking customers. We do not attempt to inflate our number of Online customers by including registered, but inactive customers,” she adds.

“Brick to clicks is a core strategy for us and it allows our clients to facilitate all their banking via this self service channel, removing the need to ever visit a branch should you choose so. An account can be opened via Online Banking in under 10 minutes,

“We have seen a 98% growth in new customers opening accounts via online banking. Their first point of contact with FNB is via our landing page, rather than in a branch,” Van Zyl says.

She expects a rapid growth in online banking as larger numbers of consumers gain secure access to the internet.