26 October 2018: FNB Business has once again been voted “SA’s Best Business Bank” in the 20th Annual Sunday Times Top Brands survey. This makes it the sixth year in a row that FNB Business wins this award. The Sunday Times Top Brands survey is the leading indicator of consumer and brand sentiment in the country.
Mike Vacy-Lyle, CEO at FNB Business says, “we are truly humbled and excited to be voted the Best Business Bank in South Africa once again. South African businesses continue to trust us in helping them start, run and grow their businesses.”
Through its one platform approach and a strategy that is led by digital innovations, FNB has developed numerous additions to their platform that are focused on improving the experience for the FNB business customer.
Some of the solutions include Switching with a selfie, the Instant Value Add solutions suite which includes Instant Accounting, -Payroll, -Invoicing, -Cash Flow and Instant BEE.
FNB’s “Switch with a selfie” innovation enables SME’s to switch or open a new bank account in less than five minutes through selfie authentication and digital KYC on the FNB App. This paperless account opening process uses biometric technology to validate the business and its owner, allows the SME to order and courier new cards, switch debit orders and setup digital banking immediately.
The suite of Instant Value Add Solutions has over 200,000 registered users, that it assists in removing angst out of day-to-day business administration, offering businesses of varied sizes a far less painful registration processes.
Over and above these solutions, FNB Business has gone a step further in 2018 and has committed to servicing what the bank has termed the unseen economy.
“This move is aimed at helping informal businesses insure, bank and transact cheaper and better through primarily reducing the amount of cash that the “unseen economy” find themselves exposed to. This drive has seen FNB embark on many engagements with SME’s in the informal sector, largely unbanked businesses, and township businesses, “adds Vacy-Lyle.
“This journey is focused on creating banking services that reflect an in depth understanding of the South African business. “We understand that most of the banking sector tends to create banking solutions for the mid to upper end type of business, but we want to be known as a bank for all businesses in South Africa,” says Vacy-Lyle.
Vacy-Lyle says that these proof points all go on to show how South Africa continues to vote FNB Business the best business bank in South Africa.
“For us here at FNB, it isn’t so much that we’ve won this award six times in a row, FNB takes this award seriously and will continue to do work that enables the bank to always be able to help businesses become better,” concludes Vacy-Lyle.