FNB Connect, the bank’s mobile virtual network operator (MVNO), has sold almost R400 million worth of smart devices via the FNB App in the first six months of the current financial year. This is a 52% increase compared to the prior period.
The growth in device sales via the FNB App follows the introduction of cost-effective value propositions such as Hero Device Deals* that allow customers to get their hands on high-end devices like laptops, tablets, and smartphones from popular brands like Apple, Samsung, and Lenovo, payable over 24 months.
Lytania Johnson, CEO of FNB Personal Segment, says, “Smart devices are crucial to the lifestyles of customers, but access and cost are common barriers for many customers. Our appreciation of this inspires us to support our customers with affordable devices, data, and voice minutes. We have a unique ability to help our customers through a single digital platform where they can manage their money, see what they qualify for, and have their device and SIM delivered to their doorstep with no hassles. This makes our approach very different from the traditional providers of some of these services, and over the years, we’ve worked closely with device suppliers to ensure that the prices are affordable to many of our customers.”
Ashwin Gobind, Chief Operating Officer for FNB Connect, says, “While we have been providing customers with devices for years, we’ve significantly enhanced the customer experience and created better value and customer experience. Our comprehensive range of lifestyle solutions and partnerships are designed to help our customers beyond financial services. For convenience, customers can easily apply for their smart devices on the FNB App without any paperwork, and have their device delivered directly to them within 3 business days. Over and above this, we generously reward customers with free data and voice minutes depending on their bank account.”
Recently, FNB Connect revealed that it rewarded customers with more than R300 million worth of free data and voice minutes in the first half of the current financial year. This is part of its commitment to providing more value to FNB and RMB Private Bank customers who use its services, helping them save on their telecom bills. An estimated 70% of FNB Connect customers are on top-up plans, giving them flexibility and control without the risk of bill shock at the end of each month.
“We are continuing to innovate and provide customers with the best possible value for their money. Whether it’s for personal or professional use, we aim to ensure that our value supports customers’ unique needs. We believe that FNB Connect provides far more value to the bank’s customers compared to traditional providers of some of our services,” Gobind concludes.