FNB Introduces nav» Money to Help Customers Track Spending and Credit

FNB launched nav» Money; a digital solution that helps customers improve and navigate the road to financial fitness. This innovative tool is a continuation of the nav» journey which already includes nav» Home and nav» Car.

Efforts to manage and understand your financial situation should be an ongoing focus for all South Africans. “The nav» Money tool is designed to help customers bring their money to life and aims to build on financial awareness; which will help keep people abreast of their spending habits at any time or place. The simplicity and convenience of the tool gives people a simple way to manage their finances” says Jolandé Duvenage, nav» Chief Imagineer (CEO).

She adds, “Building customer-centric solutions that integrate agile technologies helps create innovative eco-systems that are apt to global benchmarking standards. With changing market dynamics and high digital adoption rates; we need to ensure that our products and services are relevant, innovative and easy-to-use.”

Accessible on the FNB App, the nav» Money tool will provide an updated view of the customers financial health; based on three simple views:

  • Track my spend – this feature lets consumers know whether they are spending more than they are earning and provides spend tips to manage their cash flow better.
  • My available funds – lets consumers know what’s left to save and spend after all known upcoming payments. All the scheduled payments and debit orders are taken into consideration and if you are experiencing a shortfall, you can access other funds available like eBucks, savings, and credit – all in one useful place.
  • My credit status – FNB assess various data, including internal information and credit bureau info, to rate a customer’s credit fitness across seven helpful drivers of behaviour. Know exactly what you’re doing right, and where you could improve, with personalized tips on late payments, credit limit usage, your proven track record and more.

“Whether spending or saving, we need to be on top of the money management game. Building financially suitable fintech solutions has largely been Influenced by our customers’ needs and wants. This has required the bank to remain relevant and authentic in delivering the best service and products possible,” says Duvenage.

The introduction of nav» Money is a continuation of FNB’s journey to be a trusted money manager. The bank first launched nav» Home in 2016 which has seen 1 million visitors to the platform, with R3.1 billion in pay-outs made. This was followed by nav» car which also has 203 000 vehicles were loaded and 10 500 licence renewals since launch in 2017.

“We are in a highly competitive environment that is challenging the way banking is done. Given this context and the pressures that customers face; we need to ensure that we provide customer-centric solutions that only add to the betterment of our customers lives. Helping our customers navigate their financial journey remains a core focus for the bank.” concludes Duvenage.

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