In a move that will ratchet up the intensity of competition in the banking industry, FNB has launched a new retail banking offering designed to win market share and stem the advances of a raft of newcomers and ambitious incumbents looking to dominate the middle-class market.

The launch of the Aspire offering comes as traditional competitors such as FNB, Absa, Nedbank and Standard Bank, note the arrival of the likes of TymeBank and an ambitious Capitec from the lower segments, as well as going elbow-to-elbow for market share at the higher-income segments with the likes of Discovery Bank...

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