FNB introduces cellphone banking

FIRST National Bank Namibia (FNB) last week launched a cellphone banking service which allows customers to perform banking transactions from any location with cellphone reception.

Cellphone banking makes any mobile phone in Namibia a banking channel. FNB’s cellphone banking uses a menu-based technology and once registered, customers will be able to make transactions using their mobile phones any time, anywhere.”FNB customers who register for cellphone banking will be able to do their banking from anywhere using their mobile handsets to buy prepaid cellphone airtime, request account balances, obtain mini-statements, transfer money between accounts and make beneficiary payments,” FNB CEO Leonard Haynes said.Haynes stated that the launch of FNB’s cellphone banking was in line with the appeal of the Minister of Finance, who urged the financial sector to develop comprehensive banking products for the under- and unbanked population of Namibia.Haynes said his company was excited about the reach its cellphone banking will have on the industry.The bank said this system was useful for those in rural areas with cellphone reception, as it was often difficult and expensive for them to travel long distances to their nearest branch for banking services.”It is inconceivable for banks to establish banking access everywhere,” said Haynes.Another local commercial bank, Bank Windhoek, introduced its cellphone banking system last year.FNB’s cellphone banking uses a menu-based technology and once registered, customers will be able to make transactions using their mobile phones any time, anywhere.”FNB customers who register for cellphone banking will be able to do their banking from anywhere using their mobile handsets to buy prepaid cellphone airtime, request account balances, obtain mini-statements, transfer money between accounts and make beneficiary payments,” FNB CEO Leonard Haynes said.Haynes stated that the launch of FNB’s cellphone banking was in line with the appeal of the Minister of Finance, who urged the financial sector to develop comprehensive banking products for the under- and unbanked population of Namibia.Haynes said his company was excited about the reach its cellphone banking will have on the industry.The bank said this system was useful for those in rural areas with cellphone reception, as it was often difficult and expensive for them to travel long distances to their nearest branch for banking services.”It is inconceivable for banks to establish banking access everywhere,” said Haynes.Another local commercial bank, Bank Windhoek, introduced its cellphone banking system last year.