FNB has been voted as the most Innovative Bank in the “2013 Banking Innovation Study Results” report.
Carried out by the Innovative Agency (Systemic Logic), based in the UK and South Africa, findings were produced on the levels of banking innovations in SA.
This comes just after FNB was named as the Most Innovative Bank of the Year for 2012, in the 2012 BAI-Finacle Global Banking Innovation Awards. “Innovation at FNB is not simply an internal slogan, but a core value that all FNB employees adhere to. The business environment is constantly changing and we need to find creative and innovative ways to remain relevant and at the same time be top of mind to our customers,” says Michael Jordaan, FNB CEO.
The core purpose underpinning this initiative is to empower banks to better understand their customers. The study investigated a number of aspects surrounding the level of innovation being achieved by an organization as perceived from a localized end-user perspective and served to create awareness around the concern that banks need to be responsive to customers’ emotional needs
The survey cited that FNB is perceived as the most innovative bank because it keeps up with the changing environment, challenges the status quo, thinks outside the box and is very smart in the way they do business. In addition, FNB is the first bank to offer innovative products with others following, are the leaders in banking technology and they come to market with products that people value.
This recognition is a great achievement for FNB. “Efficiency and innovation is key to success. I believe that ideas for technological development for our products and solutions has made banking easier and accessible to all users. We challenge our staff to be different and to innovate. Running since 2004, and through the FNB Innovators Programme 5585 innovations have been implemented to date, which has contributed towards the transformation and strategic direction of the bank,” says Jordaan.
“Our drive towards the development of retail banking is to focus on digital banking and consumer driven, self service channels. This is especially true where consumers desire high convenience and very low banking costs. FNB expresses its core brand value of helping and this allows us to be represented as approachable, trustworthy, likable and technologically savvy to our customers,” concludes Jordaan.