South Africas First National Bank (FNB) has introduced banking via social networking site Facebook
FNB’s Cellphone Banking department announced that its customers could use Facebook for checking balances, purchasing prepaid products, and viewing Lotto and PowerBall results.
Cellphone Banking chief executive officer Ravesh Ramlakan said social media was undoubtedly the “next frontier” in banking.
He added, “To us, this is a channel that will provide our customers with more choice and convenience. To stay ahead in the innovation race, the bank needed to rapidly adapt to the constant changes in the social environment.”
To access the application, customers will need to link their Facebook profiles to their cellphone banking profile.
Ramlakan noted that there were more than 4.7 million active Facebook users in South Africa and that the bank averaged around 15,000 conversations every month via social media.
“The FNB Facebook fan page has more than 150,000 members. It is easy for our customers to purchase a data bundle or airtime using Facebook. The collaboration with the social networking site presents an opportunity for FNB to tap into a new and fresh market,” he added.
