Cellphone banking at the four major banks
Nearly 50 percent of the bank’s clients use cellphones to interact with Absa in one way or another, Adrian Vermooten, the head of Absa’s mobile channels, says. Absa has 1.4 million registered users of cellphone banking and 1.15 million internet banking clients. Vermooten says in the past year there has been a 105-percent increase in the number of cellphone bankers and a 175-percent increase in the number of transactions by cellphone.
More than one million clients use the full services offered by cellphone banking and well over five million clients use the cellphone notification service, compared with between 500 000 and one million clients who use internet banking, Len Pienaar, the chief executive of mobile commerce at FNB, says.
The number of cellphone bankers has increased by more than 90 percent over the past year and the cellphone banking user base is about 40 percent of the internet banking user base, Lee Albertyn, the head of Nedbank’s virtual channels, says. However, Nedbank was unable to provide specific figures of the number of cellphone and internet banking clients due to a change in its systems.
There is one active cellphone banker for every four internet bankers at Standard Bank, Tumi Monale, the director of self-service banking, says. “However, we have more than 1.3 million customers using our SMS notification service and this figure is growing exponentially,” she says. Monale says the number of new cellphone bankers is growing at an increasing rate and is outstripping the number of new internet bankers each month.