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Sourced from Htxt.Africa Following months of uncertainty, data from FNB shows that businesses are already seeing signs of recovery as card swipes at merchants point of sale devices rebound close to pre-pandemic levels. Purchases recorded on FNB Speedpoint devices show that transactions recorded in August, when the country moved to level 2 of lockdown, recovered to 93.2% compared to February this year. In the same month, merchant transactions recorded across six provinces were already above pre-pandemic levels, with Free State and Gauteng at 90%, followed by the Western Cape at 70%. Signs of recovery were already apparent in July when the country was still on level 3 of lockdown, where activity had recovered to roughly 86% compared to pre-pandemic levels. Gordon Little, CEO of FNB Business,...
Sourced from Htxt.Africa First National Bank (FNB) has been voted as the best digital bank in the 2020 SITEisfaction survey. The bank is said to have “dominated overall customer satisfaction metrics on both the Best Mobile Banking and Best Internet Banking categories”. Conducted for 9 consecutive years, the survey benchmarks Internet banking, app and customer experience against that of competitors as well as against previous years’ performance. “Our consistent approach to digital banking has provided customers with an innovative, contextual and agile banking experience. Our banking processes have evolved into one that can operate through challenging market conditions with changing consumer perceptions, sentiment and dynamics. Through this we have delivered platforms that have been pivotal ...
Sourced from Htxt.Africa FNB has been harnessing artificial intelligence (AI) to reimagine risk management and forensic due diligence processes. The result is the ability to review profiles for various financial crimes holistically, more rapidly, and more consistently, and free up the time of analysts to perform the functions that they remain better suited to than AI. FNB claims that this doesn’t mean that they need fewer analysts, but rather that their focus is now being used to conduct quality assurance of reviews, and to constantly feedback data into the evolution of the AI. On average, the use of AI frees up 70% of analysts’ time and generating a forensic synopsis ready for a human analyst to review that previously took hours can now be completed in as little as 8 seconds. AI is growin...