This month saw the launch of FNB nav››. Described as a ‘digital financial GPS’, this new and innovative tool promises consumers: “A quick, smart, digital solution to navigate the road to financial fitness” via the FNB Banking App. We decided to check it out.
What Is nav››?
FNB have long been at the forefront of digital disruption within the banking ecosystem. They launched the first banking app in South Africa back in 2011. Now they’re pioneering again by further simplifying their customers’ financial journeys with nav››.
According to newly appointed ‘Chief Imagineer’ (CEO) Jolandé Duvenage, “nav›› is a simple and convenient tool which provides customers with smart ways to make the most of their money. Be it in their business or personal capacity. nav›› can be accessed anytime, anywhere.”
You may be thinking to yourself, “But isn’t that what the FNB Banking App does?” Yes, and no. Duvenage explains that, under the concept of a “financial GPS,” nav›› aims to combine finance and technology to help customers ‘navigate’ (we see what they did there) every financial decision. It achieves this by being intuitive to their needs as well as their pain points.
nav›› is an extension of the FNB Banking App, an extra feature you could say. But it functions as a standalone tool. Over the next few years, its function will evolve through the addition of helpful and technologically agile financial solutions.
“Customers today look for value-added benefits from new technologies. When designing the nav›› application we looked at the customer demographic, needs, wants and pain points. We looked at things from our customers’ point of view and considered factors that influenced their behaviour and the world they live in,” explains Duvenage.
nav›› Home is the first phase to be rolled out in line with FNB’s values of helpfulness, innovation, and efficiency for the banks customers.
Driving nav›› Home
The thought of buying or selling a home can be daunting for most. The real estate agent, and the lady at the bank going yay or nay on your home loan application. Plus a mountain of forms and documents to submit just to get started… It’s enough to make you want to move back with your mom.
With nav›› Home, customers can search for new homes, get value estimates (instant and free), be pre-approved for a mortgage bond, and access an entire database of home service providers. Among other things.
“The instant value estimate, calculators and pre-approval process via nav›› Home ensures that customers are in control of their finances. The site also offers free area and property reports that are pulled from a number of sources. These include the bank’s own valuation base, built up over years, and the Deeds Office, to give a comprehensive overview of a suburb or particular house,” says Duvenage.
nav›› Home essentially gives customers access to the driver’s seat when buying or selling a home.
nav›› Home Features
- Free instant value estimates of a home.
- Search thousands of listed properties to look at in the app.
- Search for homes “nearby” when you are in a specific area.
- Compare prices and neighbourhoods with free area and property reports.
- Instant home loan pre-approval for qualifying clients (including the maximum home loan they qualify for and the deposit needed).
- Calculate the monthly instalment amount including an indication of all the other costs involved.
- Access a database of home services in their areas (e.g. moving companies, plumbing services, landscapers, etc.).
“We need to continue innovating to ensure that we build on our innovations in the market,” concludes Duvenage.