FNB offers new iPhone, relaxes rules

2013-11-20 11:00
The latest iPhone has been launched in SA. (Duncan Alfreds, News24)

The latest iPhone has been launched in SA. (Duncan Alfreds, News24)

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Cape Town - The launch of the latest iPhone has been the impetus for First National Bank to amend its rules on the number of devices a customer can order.

FNB on Wednesday announced that the bank has rescinded its rule on the number of smart devices purchased as the bank made the iPhone 5c and 5s available on its platform.

Previously, customers were limited to one device on FNB's 24-month, no interest deal, but the bank said that it was now allowing customers to buy more than one device.

The idea to sell devices was based on the fact that the bank had launched an application, but there were few customers who could access it, FNB said.

"We were the first bank to launch an app, in fact, we were well ahead of our peers in launching an app but now we had this app and it was cool, but many of our customers didn't have the smart devices on which to do the app and that's how the conversation came about," FNB CEO Michael Jordaan told News24.

Technology focus

Jordaan will step down as CEO early in 2014 after more than a decade at the helm of the bank. He presided over the pivot to technology solutions for bank customers.

"The wonderful thing is it's not me. These were innovative people who took control of their own destiny and did some deals and it's very exciting."

FNB is offering the 16GB iPhone 5c at R379 per month and the 32GB 5c at R439. The 16GB iPhone 5s starts at R449 and climbs to R579 for the 64GB version.

FNB is traditionally able to offer smart devices at a lower cost than retail competitors, but the bank may not have it all its own way after mobile operator MTN launched the 16GB iPhone 5c at R279 per month on an MTN AnyTime 100 contract with 300MB bonus data.

Jordaan said that the technology focus at the bank was an indicator of the sophisticated nature of the South African banking industry.

"I do think all banks are very rich in technology: Technology drives every transaction; every deposit, so it's got to be a core skill. In fact it's the thing in the bank that scales the most, but we have tried to go beyond that as a key differentiator in how we can make the lives of our customers easier."

- Follow Duncan on Twitter
Read more on:    mtn  |  fnb  |  mobile  |  iphone

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