FNB Connect wants all the bank’s customers to subscribe
FNB’s telecommunications arm wants all the bank’s retail customers in SA to use its services within the next decade. FNB Connect, the mobile virtual network operator (MVNO) launched in mid-2015, had 670,000 active users at the end of 2018, up from 600,000 a year before. This compares to FNB’s 8.2-million customers in SA at the end of December 2018. MVNOs such as FNB Connect — which exists partly to attract and retain customers for the bank — rent network capacity from traditional telecoms companies. “I want every FNB customer to have our SIM card; they should think of this as being part of banking with us,” FNB Connect CEO Len Pienaar said. “I hope that 10 years from now, no-one will have a bank account with FNB without our SIM.” FNB Connect, which rents capacity from Cell C and can also access MTN and Vodacom’s networks, has so far focused on the bank’s retail customers, but Pienaar said it has begun targeting small- and medium-sized eneterprises SMEs). “We believe the benefits we ...
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