Wednesday, 8 July 2015

To Make Accounts Stickier, African Bank Offers Cellphone Service

From American Banker –

“As U.S. bankers fear losing the primary relationships with their customers to technologically nimble outsiders, a South African bank is showing how financial institutions could conceivably return the favor.

First National Bank, the republic's third-largest bank by assets, began offering cellphone service to its direct-deposit accountholders last month. Customers who buy the bank-branded SIM cards for their phones can sign on to a single FNB site for their financial and mobile accounts. There they can pay their phone bills, buy data service packages, and activate international roaming. FNB resells the airtime from Cell C, a mobile operator.”

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