First National Bank (FNB) has awarded the FNB Connect MVNO offering, R1,5-million at the inaugural FNB Innovators awards evening.
FNB awarded R11-million in prize money towards the various innovative ideas received and implemented within the bank. The innovations ranged from minivations right through to what the bank terms megavations, such as, the FNB Connect offering to customers.
FNB’s winning innovation, FNB Connect became the first bank in South Africa to offer a full mobile operator service.
“This dedication and commitment to producing game-changing innovations will not go unnoticed. Congratulations to all of the winners and finalists who participated in this year’s FNB Innovation 2.0 Awards competition. This year we received an overwhelming amount of innovation submissions, signalling that we continue to remain focused on new product development and also recognise the importance of innovation in our business,” says Jacques Celliers, FNB CEO.
“Driving innovation through our internal staff network ensures that we create software and products that deliver effective solutions to our customers. It is these types of innovations that contribute and build onto our ecosystem which helps contribute to the overall user experience of our customers,” he adds.
Innovation investment at all levels can create sustainable and positive change in any industry. It not only helps define business objectives but also creates a culture that lives and breathes innovation. In its 11th year, FNB continues to nurture a culture of innovation. “Innovation is in our DNA and remains one of our strategic pillars. Our dedication and commitment to innovation has allowed us to focus our attention on specific areas where innovation is needed which will relieve the angst that our customers face by building trust and brand loyalty,” says Celliers.
Runners up for the 2015 Innovators were Brand ProData and Global Accounts Online which received R1-million for their innovations. Brand ProData is a bank-first, industry benchmark costing model enabling to-the-minute costing frontline activities and Global Accounts Online is a user-friendly, foreign currency account with all the rich banking functionality of FNB Online.