THE All Media and Products Survey (AMPS) conducted by the South African Advertising Research Foundation has shown that FNB’s Cell Phone Banking accounts for 33 peer cent of the market. In the last three years the number of registered FNB customers using the service has grown exponentially, and the average monthly transaction exceeds R2 billion. The service attracts a diverse market of techno savvy and ordinary cell phone users.
Ravesh Ramlakan, CEO of FNB Cell Phone Banking Solutions said: “Cell Phone Banking remains at the forefront of innovative banking and has found its adopters mainly amongst young people under the ages of 40.”
The AMPS survey shows that FNB has the highest proportion of users of the service between the ages of 19 to 40 years, with 75 per cent in this age group. This indicates its popularity among younger consumers. Two per cent of consumers are under 18, with 20 per cent being between the ages of 41 to 60 years and three per cent are over 61 years old.