It might have pioneered mobile and online banking in SA and it became the first among its peers to have an e-currency with its eBucks. Still, whatever innovation FNB brought to have a competitive edge, it didn't take long for other banks to replicate.
Now, a few years after the bank introduced its nav» platform, allowing the bank to do more than just sell banking and insurance products on its app, other banks are also becoming a little bit of everything to everyone, too.
The concept of going beyond digital banking to become a "platform business", reminiscent of Amazon or Alibaba, is now the flavour of the day. But FNB CEO Jacques Celliers says no amount of innovation from the other banks will match the bank's decades of preparing for the digital economy.