FNB scoops international Data Anywhere award in New York
Award recognises FNB as a global platform player in the financial services industry
First National Bank (FNB) won the Data Anywhere award at the Data Impact Awards celebration in New York City on September 24 2019.
The Data Impact Awards recognise organisations’ data success, as well as the best-of-the-best organisations, leaders of industry and creators of innovative solutions using the Cloudera data platform.
The award recognised FNB as a global platform player in the industry.
“FNB has expanded its leadership position through scaled and trusted data-rich platforms, which has been enabled through ongoing banking and customer relationships. Our platform focus has helped us increase our leverage of big data toolsets with the efficient use of technology, which has helped customers navigate their financial journey simply and easily,” said Jacques Celliers, FNB CEO.
The Data Anywhere category recognised organisations that have modernised their data architecture to unlock value from any data, anywhere — on-premise or across hybrid and multiple public clouds.
FNB’s innovative Data Reservoir helped break down silos across the 40+ business units within the conglomerate. Since implementation, FNB has recorded substantial savings over three years by offloading from its legacy data warehouse. The data and analytics platform transformation initiative enabled the business to better understand its customers by giving them a better banking experience, thus allowing its customers to administer real-time loans and credit scoring through the FNB banking app.
Newly launched FNB data platforms like nav» (nav-igate life) has helped customers improve their financial wellbeing. “The recently launched nav» Money is one such solution that has helped put the customer at the centre, and at the same time created a platform for financial inclusion,” says Celliers.
“In a short period of time, nav» Money on the FNB banking app has seen 420,000 unique users. It has already resulted in 24,600 users improving their credit status and 32,500 users starting or increasing their savings.”
The Data Reservoir has allowed the bank to innovate as part of its strategy to ensure it continuously provides market-leading digital platforms that deliver cost-effective and innovative propositions to customers.
“This, combined with deep customer relationships and sophisticated data analytics, is used to effectively cross-sell and up-sell a broad range of relevant financial services products. Ensuring that we live our purpose of being a trusted partner helping to create a better world by providing an innovative, contextual financial services platform is at the core of what we do,” says Celliers.
This article was paid for by First National Bank.