RMB Private Bank has announced the launch of its transactional banking App on Apple (iOS), BlackBerry and Android platforms, with Nokia (Symbian) to follow shortly.

With the launch of the new  App, RMB Private Bank becomes one of only two banks in South Africa to offer this kind of innovation to its clients.

South Africa has an estimated 7,5-million smartphones in circulation at the moment, excluding tablet devices and, according to Gartner, 40-million smartphones are expected to be in circulation by 2014.

“With the ever increasing smartphone and tablet penetration in South Africa and with RMB Private Bank clients being upwardly mobile, this innovation will offer our clients transactional banking, as well as relevant value-added services,” says Gavin Tarr, head of RMB Private Bank. “We have already seen the market readiness for banking Apps with FNB App’s success and we believe this will be even more pronounced with RMB Private Bank clients.”

Similar to the FNB App, the RMB Private Bank App will offer clients transactional banking as well as other value-added benefits such as call functionality (including international calls); foreign exchange rate functionality, ATM and Branch locators, prepaid services and more.

“We are able to offer customers the comfort and security of FNB’s innovative banking platform, while still maintaining the bespoke service offerings of a boutique wealth management house,” Tarr says. “It is through this association that we are able to offer industry leading innovations to our clients. This App will offer our clients with smartphones or tablets a unique, rich user interface on a safe and secure platform. We certainly see this as the future of mobile banking.”