FNB introduces affordable paperless banking

FNB today announced the launch of their tailor-made branch network, EasyPlan. EasyPlan is a paperless banking offering where customers will be able to open a new bank account, access funeral insurance and get their loan paid out in just 10 minutes. FNB EasyPlan branches will be open for 12 hours a day.

The EasyPlan concept is yet another part of FNB’s strategy to make banking more accessible and affordable to mainstream customers. Mainstream customers are people who earn an individual income of between 0 and R100, 000 per annum. They constitute 80%* of the total South African population.

Line Wiid, CEO of FNB Smart Solutions says, “Our new EasyPlan branches are designed to provide access to affordable banking for the mainstream market, whose needs include flexible operating hours and a friendly non-intimidating banking environment.”

“At FNB we have taken a different approach to banking mainstream customers. We don’t believe in a one size fits all approach – we are not only about products, we are about solutions that add value to our customers - hence the development of a branch network that talks to those needs,” adds Wiid.

The concept is based on the unique needs of the lower end of the mainstream customers, who require basic no-nonsense products, longer operating hours, a homely environment, low bank charges and small loans.

“We have launched EasyPlan in order to address the banking requirements of our growing mainstream customers. EasyPlan is a new offering, which we believe will address our customers needs such as easy access to banking, including longer banking hours,” says Gift Manyanga, Head of FNB EasyPlan. He adds, “We also have real time value deposit taking capabilities through ATMs at the branches, enabling a cashless branch environment.”

At this time, FNB EasyPlan branches are situated at The Bridge Shopping Centre and Gandhi Square in Johannesburg as well as in Human Street in Krugersdorp. “We have an aggressive roll out plan for more branches – we will be opening at least 10 more branches in Gauteng and 10 in KwaZulu-Natal before June 2010,” adds Manyanga.

“The development of EasyPlan is part of our continued commitment of making banking more affordable and accessible for the South African consumer who needs it most,” concludes Wiid.

* AMPS 2009