FNB revamps its distinctive acacia tree logo and app as part of a brand upgrade

First National Bank (FNB), South Africa's oldest institution, is undergoing its most substantial brand redesign in 35 years, as well as reworking its digital platforms to introduce new payment options.

However, the bank's renowned acacia tree emblem, which has been a part of its identity for decades, will remain firmly in place, albeit altered to give it a more digital look and feel in line with the fintech sector.

Fintech is a term used to describe technology that automates financial services so that users can conduct transactions using computers or smartphones. It has upended traditional banking models and has been embraced by the big four banks as they compete for market dominance.

As part of the broad improvements, FNB, which is owned by the JSE-listed FirstRand Group, is redesigning its FNB app, Africa's first banking app, with the goal of providing "more intuitive guidance through ease of use and a safer digital experience." FNB is South Africa's oldest bank, with roots dating back to the Eastern Province Bank, which was founded in Grahamstown in 1838.

According to a statement issued on Friday, the platform has been updated to allow consumers to "personalize their FNB app by customising its home screen and selecting commonly used or preferred features."

Customers will now be able to get a "snapshot of their transactional accounts, credit investments, insurance, and value-added services," in addition to an improved search capability to help them identify services faster.

"Similar enhancements are being made to the internet banking channel." 
Some of the other features that have been introduced include Money Protect, a "new and industry-first benefit of free insurance cover for certain fraud-related losses when using interfaces such as the FNB app and ATMs".
"The benefit underscores FNB's dedication to assisting consumers in transitioning to safer digital interfaces."

FNB CEO Jacques Celliers said in a statement that the bank is "excited to see millions of our customers embrace the migration to more accessible, user-friendly, and safer interfaces" and that the bank is "continuing to facilitate our customers' journey from analogue to digital and digital to the platform."

While the digital platform has "become a one-stop shop for clients' financial and lifestyle needs, with over 3 billion transactions and 1.6 billion digital interactions over the previous 12 months," he acknowledged that "fraud is a reality in our society." As a result, it was "constantly improving our procedures to help millions of our digitally active consumers mitigate these risks."

FNB Pay will now be the payments umbrella in the app, allowing customers to split a bill and business owners to receive contactless payments "simply and safely on their android smart devices, without the need for a separate point-of-sale device," according to the bank.

Among the app's other "new or enhanced payment options" was the ability to allow clients to make quick payments, which the bank said was a "first-to-market" innovation. Customers can "digitally pay anyone via the FNB app using just a card number," according to this function.

"The recipient receives the money instantly in their bank account, regardless of where they bank."

Clients can use the "PayMe" option to request a digital payment to any FNB "banked mobile number."

"The individual requesting the money merely follows a few instructions, and the 'payer' is immediately notified, and all that is required is for the 'payer' to accept the request to make an instantaneous payment."

Customers can use the app's "chat functionality" to pay or request payment from any FNB customer using the "ChatPay" function, which eliminates the need for an account number.

"Customers can initiate a chat using their contact list, and because the discussion takes place within FNB's platform, they can feel secure."

The bank stated that its "Bill Payments" tool allows clients to pay rates, medical bills, and other services, while the "Virtual Card" option may be used for travel bookings such as flights and lodging. The virtual card can also be attached to "third-party digital wallets such as Google Wallet or Apple Pay for convenient and safer payments when travelling overseas," according to this option.

The "Speedee App" from the bank enables businesses to "receive contactless payments easily and securely on Android smart devices without the need for a separate point of sale device."