Investec introduces mobile app
INVESTEC launched a mobile banking application on Friday, an initiative that will enable the bank’s customers to trade shares in real time and access their global portfolios on a single platform.
SPECIALIST bank and asset manager Investec launched a mobile banking application on Friday, an initiative that will enable the bank’s South African customers to trade shares in real time and access their global portfolios on a single platform.
The mobile application, which has been launched on the Apple iPad and is expected to be rolled out to Android and BlackBerry phones later, should give Investec an opportunity to cross-sell its wealth products to clients who only know the company as a private bank and not a wealth and investment manager.
Investec’s private banking unit has about 70,000 customers. An estimated 40% of these clients already use the bank’s online platforms for their banking.
The new application is also available to non-Investec clients, but access is limited to research and insights, and delayed-time market data.
Investec Private Bank head of banking Ryan Tholet said the mobile application was aimed at giving customers more platforms. The bank would not prescribe to clients which platforms to use.
The client experience with a private banker would not be taken away, Mr Tholet said. Instead the new application would supplement the red carpet banking that Investec offered.
Mr Tholet said customers would still need a private banker for advice when it came to applying for a home loan, car finance and wealth products. “Having a digital offering that spans all our private clients’ needs … leaves us confident we can truly deliver a seamless financial service, saving them time and enhancing convenience.”
Lyndon Subroyen, the chief information officer of Investec Wealth and Investment, said the application consolidated Investec’s private client businesses, allowing customers a clear view of their investments and facilitating their transactions.
Investec joins other private banking boutiques includingRMB Private Bank, FNB Private Clients, Nedbank Private Wealth, and Standard Bank Private Banking.