“Customer-centricity has become even more important in current times and technology itself is a powerful enabler to deliver solutions against customer needs and behaviours.”
The study is undertaken by HDI Youth Marketeers and is the leading annual youth brand preference and consumer behaviour survey, polling over 5 500 youths from all walks of life, aged between 8 to 23.
The survey highlighted the importance of technology to the youth, which makes FNB’s technology and innovation driven marketing strategy key to appealing to this section of the market.
In the last year the bank has introduced a new mobile provider, FNB Connect, where customers benefit from a single login to simultaneously manage their financial and mobile accounts; WIFI to all new branches and has also been voted the best digital bank, internet banking site and mobile banking experience in South Africa by by SAcsi Survey 2016 and Columinate Internet Banking SITEisfaction Survey 2016.
Mfikwe highlights the fact that the youth seem to want more than a place to park their money; “The youth choose banks for what they are getting, not just rates, but added value, services and solutions. FNB is a bank that fits seamlessly into their lives in terms of engagement, products, technology and platforms.”
To further entrench its strong reputation with the youth, FNB has recently reviewed pricing on its Youth account, scrapping monthly fees effective 1 July 2016. With this account these young customers will be able to make purchases with their cards, withdraw cash at till point as well as perform a host of other electronic banking transactions for no additional costs.
“The scrapping of fees on the youth account is a step in the right direction to encourage banking at low cost on our digital platforms. Not only are these youngest the customers of the future, but they already influence spend in their households,” says Mfikwe.
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