South Africa's FNB has revamped its mobile services, enabling consumers and businesses to open accounts within minutes by taking selfies.
The new features let SMEs switch or open an account in less than five minutes through self-authentication and digital KYC through the FNB app. Using biometrics to validate the business and its owner, the app allows the SME to order and courier new cards, switch debit orders and set up digital banking immediately.
A similar system is in place for consumers, while FNB has also added an 'eBucks Travel' feature to its app to help users find and pay for flights.
FNB says that it has seen app usage and digital financial transactions soar in recent months, while an average of 3000 new company registrations are being initiated every month via digital channels.
Jacques Celliers, CEO, FNB, says: "Today marks a significant milestone in our 180-year history as we move beyond being a digital innovator to a broader contextual platform disruptor. It is through this contextually helpful platform that we can offer holistic financial solutions and become a trusted partner to the broader society."