Ecommerce	• 10 Jul 2019
FNB's banking app can now track your savings goals and physical health
By Andy Walker, former editor
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FNB on Tuesday announced an expansion of its banking app's functionality with the introduction of two additional Nav features — the company's "financial GPS" built into its app.
Firstly, the company debuted a new savings tracker, which allows FNB banking customers to stash money away for goals in savings accounts.
Customers have a choice between 10 primary goals that cover the likes of health, education, emergencies and travel, as well as more than 50 sub goals. With each goal, the bank will recommend the optimal account to open, as well as savings rates based on your income and monthly spend.
"The process has been designed to calculate how much a customer needs to save for a goal, recommend a personalised savings solution and include the ability to track progress," FNB clarified in a release.
These also integrate with the app's other features, including its new shopping experience which launched earlier this year, allowing customers to buy flights to various destinations.
But beyond money, the company's also thinking of customer health.
FNB's allowing users to track their health and wellness on the banking app too, which makes it the first banking organisation in South Africa, noted FNB's retail CEO Raj Makanjee explained.
Initial setup includes a questionnaire that the users will ask to fill. This allows the bank "to get insights into their wellness score before setting goals to improve their score," it explains.
Users can also take advantage of a prescription medicine ordering system using the app and their phones's camera. Said medicine will then be available to collect through Dis-Chem within two hours, the bank explained.
The fitness feature isn't as granular as Fitbit or Samsung Health, but it does allow users to set rudimentary goals: workout three times a week, or stretch twice daily, for instance.
The features have been available for some time now, the bank told Memeburn, but the official launch comes with suggestions that more companies may need to look at what their banking apps really are, and what they're set to become.
Feature image: Jolande Duvenage, the CEO of FNB's Nav division, by Andy Walker/Memeburn
Andy Walker, former editor
Andy wrote for Burn Media between 2014 and 2020, serving as Editor for Memeburn, Gearburn, and Motorburn from 2017 until 2020.
Posted in EcommerceTagged Banking, FNB, FNB Banking App, South Africa
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