FNB scoops global banking award

FNB scoops global banking award

2012-10-10 16:49

 Cape Town - First National Bank on Tuesday won the Most Innovative Bank of the Year Award at a prestigious award ceremony in Washington DC honouring the most innovative banks in the world.

The 2012 BAI - Finacle Global Banking Innovation Awards is a joint programme between BAI and Finacle Infosys. It recognises and supports breakthrough innovation in the global retail banking industry which positively impacts banks and their customers.

FNB, a division of FirstRand [JSE:FSR], received the award for its culture of innovation and advancement of retail banking.

"As part of their innovative culture, the bank holds an internal competition, called 'Innovators', that formally encourages and supports the process of innovation and related competencies.

"Business units within FNB are empowered to innovate through leadership buy-in and advocacy," said BAI in a statement posted on equities.com.

FNB was also a finalist in the Product and Service Innovation Award for its eWallet.

OCBC Bank of Singapore, however, scooped the award for FRANK, "a radical approach to addressing Generation Y's different style of connecting and engaging with financial institutions".

UBank of Australia was the other finalist in the section, which recognises banks that have substantially improved an existing product or service or developed and introduced a new product or service that has engaged customers, unleashed new revenue opportunities and/or improved the bank’s competitiveness.

FNB was chosen among more than 150 entries from over 30 countries. The award winners were selected by the Innovation Circle Judging Panel, an objective, third-party board composed of prominent industry thought-leaders, academics and retail banking professionals.

Turkey's DenizBank won the award for Channel Innovation for introducing the "Globally First Ever" banking platform on Facebook.

With full online banking functionality, the platform enables Facebook users to check their bank account, see a total picture of assets and liabilities, send money to anyone, anytime, purchase/enrol in consumer loans and credit cards, and invite Facebook friends to use the platform, among other capabilities.

Alior Bank of Poland received the Disruptive Innovation in Banking Award for changing the banking services market in its country.

Alior Sync is a progressive, virtual bank that offers full-service banking via a virtual platform with a contemporary means of communication for its target segment, customers between the ages of 20 to 35.

Debbie Bianucci, president and CEO of BAI, said the the award winners serve as a model of what can be achieved through innovation when it comes to enhancing the customer experience and transforming the financial services industry.

Haragopal Mangipudi, global head of Finacle, Infosys, commended the award winners for their ability to drive consumer engagement through innovation. "Their original thinking is the key to accelerating growth and increasing customer loyalty," he said.

* Follow Fin24 on Twitter and Facebook.

  • stoute.babuseng - 2012-10-10 16:54

    Nice one FNB

      Onke Mdingi - 2012-10-10 17:05

      Well congrats FNB. But your focus must not only be on retail but also the general pubic (if only the chaos that happened the past weekend due to your 'upgrading' has to go by.

      rodney.overes - 2012-10-10 17:19

      Yes congratulations!!, But now don't put the fees up and charge more. Rather bring them down for all and win again next year and get more clients, I am also thinking to move to FNB.

      elewies - 2012-10-10 20:14

      I really think it must be nice to be a 'journalist' (I use this term VERY loosely) at News24. I would love to just sit around all day, reading news from various websites and the. copy content from five different sources and consolidating it into one 'article'

      christof.coetzee - 2012-10-10 22:01

      WELL DONE MICHAEL JORDAAN! you set the standards and we are proud of you.

      freddie.miff - 2012-10-11 09:20

      Well done FNB, the best bank in SA, by far. All banks are not created equal.

      thabzmadi - 2012-10-11 10:00

      Not suprising given SA big 4 banks being on the forefront of banking technology in the world ..we wont hear the last of this though, I expect updated FNB marketing overload of "Steve" adverts!!!

  • vambozha.mutemi.9 - 2012-10-10 16:55

    Not surprised. They are really innovative!

      Eterni80 - 2012-10-10 17:09

      a bank is a bank is a bank - or is it ?

      charlesdumbwin.dumbwin - 2012-10-10 17:13

      No, you're right, Eterni80. They just market themselves differently but they are essentially just a big storehouse to keep our salaries and savings, while over-charging us monthly fees to do so. A necessary evil when we need loans, but adding no real value to our lifetime investment portfolios.

      christelle.james.7 - 2012-10-10 17:22

      Eterni, once you have dealt with banks in other countries, you will see a bank is not just a bank. Our banking system is truly outstanding, user friendly and just way ahead of many other countries.

      denis.dendrinos - 2012-10-10 17:35

      ja Eterni - cos all the banks have for instance a smart phone app...... oh they don't? *awkward silence*

      kevin.watson.7906 - 2012-10-11 08:33

      Christelle James, I have banked with 11 different banks. There are 2 banks in Zimbabwe that were more efficient than the 3 South African banks I dealt with at that time. They were subsidiaries of banks in the UK. The banks I had accounts with in the Channel Islands, UK, Switzerland and the US were considerably cheaper and more efficient than their South African counterparts. To sum it up our banks are beset with bureaucracy, under educated personnel and for this they charge some of the highest fees in the world. In the 1980's I effected a transfer from a Swiss account to an Australian account holder using the Swiss banks representative office in Johannesburg. As the Swiss account was in credit, there were no charges, and the transfer initiated on a Tuesday lunchtime was completed by the Friday morning. Even today South African banks could not match either the service or costs, this week it took Nedbank and FNB 36 hours to effect an EFT transfer to my account.

  • kooskanmar - 2012-10-10 17:00

    Feel good story, even if I don't bank with them.

  • christelle.james.7 - 2012-10-10 17:01

    Well done - SA has one of the most outstanding banking systems in the world!

      john.breakfacet - 2012-10-10 17:26

      You got to figure. Getting raped and happy about it.

      kevin.watson.7906 - 2012-10-11 08:37

      Living in the US doesn't really expose you to the high charges and inefficiency of the South African banking system.

  • donovan.senus - 2012-10-10 17:02

    Congratulations FNB. That's a wonderful achievement

  • Willie - 2012-10-10 17:05

    Steve has done a good job

      charlesdumbwin.dumbwin - 2012-10-10 17:11

      HAHA, I was about to say, 'I blame Steve'.

  • Eterni80 - 2012-10-10 17:07

    well done - please just quit with the stupid Steve ads now !!

  • richard.r.makhubela - 2012-10-10 17:10

    fnb u know that nothing has stoped in your way ,just keep up the good work and make S.A the best country to live .

  • thechrisberryshow - 2012-10-10 17:11

    FNB. smarter, better, faster....

  • veritas.odium.paret - 2012-10-10 17:16

    I wonder how ABSA ranked. I'm in for a bloodletting due to this month's bank charges.

      nketso.kgwadi - 2012-10-11 08:28

      Absa a product called a value bundle where u pay a fixed fee of R79 for all ur banking and the is an account called transact were u don't pay anything for the whole month if the R2000 income into ur account every month

  • hein.helmand - 2012-10-10 17:18

    Soortgelyke berig is nie by Nuus24 nie. Elk geval FNB geluk, geweet julle is DIE BANK.

  • Robert Frankol - 2012-10-10 17:31

    what about ABSA, pls lower your charges, you are bleeding a brother.

  • themadking.king - 2012-10-10 17:31

    congrats fnb , og I wanna work at RMB ,

  • Stewart Croucamp - 2012-10-10 17:32

    Thank you to Michael Jordaan for leading us to the Top of the World.

  • liezel.deacon.1 - 2012-10-10 17:39

    Well Done FNB. Charlesdumb dumb here's an innovation for an innovation for you if you think banks are overcharging. Take all your money out the bank and keep it under your mattress.

  • ojaytee - 2012-10-10 17:41

    Congratulations to the More Give bank...

  • trickyphelosky - 2012-10-10 17:42

    Hahahahahaaa...watch me switch banks&go to FNB!!!

      kobuspeenz - 2012-10-11 00:41

      You can do it online under 20 minutes! Another innovation from FNB.

  • stephan.teichert - 2012-10-10 18:25

    Ahw well done FNB must say I am bit disappointed that no one mentioned that Capitec rated out of 5 is currently 0,01 score points behind them according to a recent survey - Capitec 4 life :)

  • zimbobwe.mugabe - 2012-10-10 19:10

    If you bank with FNB you will know what they talking about. FNB's internet and cellphone banking are the most advanced in RSA. I can withdraw money using my cellphone number, send money to any cellphone, get instant temporay loan using your cellphone, buy airtime, petrol using e-bucks and all other stuff. FNB is the best.

      sello.kobe - 2012-10-10 19:55

      I totally agree with you mugabe

      nketso.kgwadi - 2012-10-11 08:24

      Absa is the first bank to come with this innovation called cash acceptor @ absa u must start reading the sunday times

      kevin.watson.7906 - 2012-10-11 08:41

      Work out the costs of that temporary loan fool its likely that the effective interest rate is well over 120% per annum. It would have constituted usuary in the past.

  • Wayne - 2012-10-10 19:36

    Please please please, no more Steve adds. Please!!!

  • kgaditsi.tjebane - 2012-10-10 20:08

    They certainly wont be winning any awards for being best paying employers any time soon.

      ben.spreeth - 2012-10-10 20:13

      They never were, but as an ex-employee I am proud of this award.

      Bra Tebzaah Sibilanga - 2012-10-10 20:51

      My wife used to work there,told her to resign as she was earning peanuts

  • hein.helmand - 2012-10-10 21:48

    I get no scam e mails re: FNB :-), A lot from ABSA ;-( -SARS money dep.

  • jmasha3 - 2012-10-10 22:49

    A proudly SA bank where Proudly SA citizens like me bank.Viva FNB viva.FNB is the best , cause with FNB I have\ banks in a bank\.

  • malcolm.stevens.129 - 2012-10-11 09:07

    Interested in the following: 1. Was every bank in the world rated? No. 2. Did banks need to enter this competition? Sort of, nominations were made, and 150 banks globally were nominated over 30 countries. Does this represent all banks, no. The only two South African banks on the list are Absa and FNB - that already seems odd right? 3. Who did the judging and how objective was this? I don't know... I would say the award is misleading right - it's the most innovative bank (subjectively) in this competition, might not be in the world.

  • jean.cronje - 2012-10-11 09:40

    Well done FNB! Super achievement!

  • mathamso - 2012-10-11 12:29

    whats going on with these awards, last week ABSA won an award for being the best bank now its FNB? is this a strategy to confue customers? what will happen next is that Nedbank will also win an award for also being the best bank.. come on people.. the best bank is where I see value for my money

  • KevvyW - 2012-10-15 13:26

    So my Q, is why was ABSA then South African bank of the year ? Does that mean we know nothing about banking or what ? ? ? An more interesting Q is who realy votes in the South African bank of the year ! ! ! I might be moving to FNB as well. Sick n tired of being sucked dry..

  • pages:
  • 1