Absa Features Store Makes Fully Customised Banking a Reality

Existing and future Absa customers now have the opportunity to fully customise and build their own transactional banking accounts according to their needs and budgets, while enjoying a wealth of lifestyle features.

The Absa Features Store intends to make the lives of the banks’ customers easier by providing them with more than just banking through four easy steps – Browse, Select, Add Features and Check Out. It provides users with a dynamic online platform that is effectively a convenient one-stop shop where they can quickly and easily acquire Absa banking solutions, while tailor-making an enhanced banking experience that fits around their lifestyle and financial circumstances.

Whilst giving them access to a host of value-adding benefits, the Absa Features Store is essentially an interactive platform that enables customers to turn their account into a bespoke packaged account. Banking customers can apply online for a Flexi, Gold, Platinum or Private banking account and, unlike previous online account opening processes that still took hours or even days for the necessary approvals to take place, the Absa Features Store user receives immediate confirmation of their new account, complete with an account number.

Speaking at the official launch of Absa Features Store, Chief Executive of Barclays Africa Retail banking, Arrie Rautenbach, explained that the lifestyle enhancing online banking facility is another example of the power of ‘One Barclays’ – customising global digital assets to benefit the banks’ retail customers in South Africa. Absa’s version builds on the Barclays model and provides a features-rich enhanced version of the UK Features Store concept, which includes a host of extended benefits to local users.

Arrie heralds the launch of the Features Store as the “next step in Absa’s digitalisation commitment. It represents the bank’s direct response to the needs of its existing and prospective customers who use their digital channel of choice, whether mobile or online, for their banking. Our customers have also expressed a desire for feature-rich banking experiences that add convenience, choice and value to their daily lives.”

“Absa’s entire philosophy and business model centres on putting our customers at the heart of everything we do to deliver the ‘Go-To’ Bank and regain a leading position in the retail market,” Arrie said, “and for us, that means responding appropriately to a customer base that is increasingly demanding highly customised banking that extends far beyond mere day-to-day transactions.”

Absa transactional account customers have the opportunity to add a variety of additional lifestyle products, services, features and benefits to their new or existing account. The extensive bouquet of Absa Features Store offerings extends from the latest cellular technology and exclusive travel offers to Absa Rewards membership, special limited-time promotions, and a selection of pre-packaged health, security, legal and lifestyle services.

Once users have selected their preferred Absa cheque account, they can view the full details and pricing of any of the products or additional features that interest them and add these to a pay-as-you transact shopping cart – which clearly shows a running tally of both their once-off and monthly costs, before the entire experience is rounded off by a fast and convenient online application process. Special discounts have been negotiated and these savings can be viewed in the customer’s shopping basket.

Purchases made on the Absa Features Store can be tracked and customers have immediate access to online and call centre support and service;

“People have become accustomed to being able to fully tailor their retail product purchases, from cellphones to cars, at the point of purchase,” he explains, “and now, thanks to Absa Features Store, they can achieve the same level of customisation with their banking.”

“For this reason, Absa believes our new Features Store represents the beginning of something of a revolution in the way people will come to see and experience banking in this country,” Arrie concludes, “elevating it from its traditional status of a necessary grudge purchase to a highly enriching and value-adding experience.”