South Africa’s First National bank (FNB) has upgraded its banking app to allow customers make online financial transactions across regional borders. The app provide the platform for money transfer to Mozambique and Zimbabwe.
Zimbabweans can collect their money at selected OK Ltd stores throughout the country while Mozambicans can receive transferred funds from any of the 15 FNB branches within the country.
Head of Banking App at FNB Mobile and Connect, Giuseppe Virgillito said the financial service is a vital addition to the bank’s offering as there is a growing need for easier payment methods between countries. The bank hopes to leverage on the increasing use of smartphone on the continent to promote this service.
According to a statistics from Informa telecoms and media, 30 percent of the continent’s population – about 334 million – will be connected via smartphones by 2017. For people without smartphone, FNB said the service will still be made available on feature and cell phones as well as online banking for PC users.
The bank plans to expand its cross-border remittance service functionality to give customers an improved and convenient banking experience.