Employees of FNB, WesBank, DirectAxis and MotoVantage have been awarded over R15 million in prize money for creating disruptive and contextual platform innovations. The prizes are part of the annual Innovators programme which recognises leading innovations by employees.

Nearly R80 million in prize money has been awarded to employees over the years. This year, 267 implemented innovations were received in the three tiers of the competition.

FNB Chief Executive, Jacques Celliers says, “The Innovators programme allows our employees to lead the evolution of our business from a digital era to platform era. Building a trusted platform enables us to create contextual solutions for our customers, with both employees and customers using the same technology. Our aim is to provide a consistent customer experience across digital interfaces such as our App, online, USSD etc in either assisted environments such as branches, contact centres and private banking suites, or unassisted experiences when people access our digital interfaces themselves”.

“We’ve seen a remarkable number of world-class innovations this year, which made it incredibly difficult to select overall winners. The scope to create disruptive, exponential and game-changing innovations is much broader in a contextual platform context and this is exactly what the winning innovations demonstrate. Congratulations to all the participants in this year’s programme and we take our hats off to the overall Innovators,” says Jolandé Duvenage, Head of FNB Innovators.

The top innovations from the 2019 FNB Innovators programme include:

Engen Up to R4 deal: This innovation leverages FNB’s commercial and retail partnership with Engen by rewarding customers for purchasing fuel at over 900 Engen outlets across South Africa. Customers could earn up to R4/litre back in eBucks for purchasing fuel at Engen using their qualifying FNB and/or RMB Private Bank Card, depending on their reward level.

eBucks on FNB App: This platform innovation led to FNB being the first South African bank to bring a full retail experience of Shopping & Travel directly into its Banking App. Customers can now securely book flights and shop on the FNB App without having to provide Card details. Customers can also view their Slow Lounge access via the FNB App, addressing potential ‘bill shock’ and associated complaints.

nav» Money: A first by a bank in South Africa, the innovation empowers customers with personal and contextual money management insights, taking the mystery out of being financially healthy. Customers can help themselves with fundamentals to spend less than one earns, manage one’s credit and savings, and track savings goals.

Secure Chat: Secure Chat enables chat capability for customers using the FNB App, which is a secured platform with 24/7 convenience. The functionality contributed to reducing email volumes as customers can instantly send a text message to chat to a service consultant.

Secured Lending Solutions goes digital 2.0: The innovation streamlines processes by using pre-populated information which requires no supporting documents for a home loan application. The use of contextual data analytics helps with the pre-approval of customers who qualify for a secured credit facility.

USSD X: Unstructured Supplementary Service Data (USSD), commonly known as Cellphone Banking, to enable customers to apply and take-up credit via an authenticated process. Cellphone Banking remains a trusted interface with robust fraud detection controls.

[email protected]: The Bank’s employees have been enabled to make use of its trusted and secure banking App (also used by customers) to perform functions such as applying and approving leave, receiving work related updates, retrieving payslips, updating personal work-related information and submitting travel claims, to mention a few.

“We are an organisation that is driven by an inspiration to change, ideate, implement and celebrate impactful innovations by employees. Our customers are the primary focus of our solutions and we are proud to have employees who go all out to deliver the best solutions in the market. We are excited about the year ahead as we continue to roll-out platform innovations in our quest to be a trusted financial solutions provider,” concludes Duvenage.