South Africa’ FNB’s Banking App has hit 1 million plus downloads, a testament to the progressive nature of South Africans and their choice to bank digitally says Giuseppe Virgillito, FNB Digital Banking.
Launched in July 2011, the Banking App has been used mostly for payments, account transfers and prepaid products. Other interesting transactions include Send Money, LOTTO & Powerball, Geo Payments, iTunes gift codes, and card services such as cancellations, upgrades and ordering of new cards.
On average, the bank says users log in to the App 15 times per month and 59% are Millennials (aged 14-34), 36% are Generation X (aged 35-53) and 5% are Baby Boomers (aged 54-71). The bank says users of the App have reduced their reliance on branches, ATMs, and call centres to almost zero transactions per month and sees the trend as a means to reducing the dependency on cash and physical banking infrastructure.