Nedbank confirms app plans
Nedbank has confirmed that intends launching a mobile banking application in August, following two years of development. By Craig Wilson.
Nedbank launched its mobile banking application, called the Nedbank App Suite, to its staff on Monday. The bank says it will be available to the public from the beginning of August.
The app has taken two years to develop and is only the third in the SA market. First National Bank was the first SA bank to launch a dedicated app for banking in July 2011. Sister company Rand Merchant Bank followed suit.
The Nedbank App Suite will be available for devices running Apple’s iOS and Google’s Android operating systems, as well as for BlackBerry devices and the majority of feature phones.
Nedbank CEO Mike Brown says the fact that the application will be available on smartphones as well as a wide range of feature phones makes it unique. “It is our intention to provide an easy-to-use banking app that is safe, convenient and available to as many South Africans as possible,” he says.
The Nedbank App Suite will also include an online share-trading feature, corporate batch authorisations and the ability for business banking clients to reset a password along with standard features such as mobile banking, balance enquiries, payments, transfers, a branch locator, a forex calculator and the ability to apply for Nedbank services.
Brown says the Nedbank App Suite is designed to allow for “quick product development and release” and that additional products will be announced in coming weeks.
Rival Absa is known to be working on its own mobile banking app, with Standard Bank the only of SA’s big four financial services institutions that has yet to make plans for an app known. — (c) 2012 NewsCentral Media