I'm so tired of all these banking products that come out almost on a monthly basis. For me banking should be very simple. I want to transact and have a credit facility to buy a tablet, car or house. I want to do this by utilizing my laptop, pc, tablet and my smartphone. I don't want to fill out forms, I'm willing to sign it and that's it.
Banks sit on a wealth of information and data and they don't know how to properly use it. Why? I think there's a few things in South Africa that hampers all of the above. Firstly it's the government with all the regulations, and that is needed. Secondly it's the population maturity and education. So if you are reading this, you are part of the 41% that have internet access in South Africa. Internet world stats Info
So if banks really would like to get the top end of profitable clients, they will have to hit this segment. 80% of these users earn R6000+ So there are 17 million customers for the banks to share in the extremely profitable segment in South Africa. They still want me to go into the branch to fill out hundreds of forms to apply for a home loan.
Come on guys embrace the future and get out there.
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