Having grown to over 1.5m customers, South Africa’s first super app, Avo by Nedbank, has announced their appointment as an Apple Authorised Reseller. Apple products are now available on the platform to both South African consumers and businesses, unlocking access to affordable and convenient finance options across the range. With the complete range of Apple products available, including Macs, iPads and iPhones – plus the full complement of accessories – Avo continues to make good on its promise of absolute convenience, ensuring that everything you need can be found in a single convenient shopping experience. “We are extremely excited at the opportunity to market and sell Apple’s range of devices and accessories. This partnership is a great fit, with Avo able to focus on creating high-value bundle offers and solutions for consumers and businesses across the spectrum. Our name is synonymous for inflation-beating tech deals, and we hope to bring these high-end products to as many South Africans as we can,” says Ciko Thomas, Managing Executive: Retail and Business Banking at Nedbank Group. Credit deals that are no joke A key proposition of the partnership will be the launch of the most competitively priced bundle deals for signed up Avo customers, available over 24 months at the best in market prices. Plus, during Avo’s 2nd birthday celebration in June, customers can look forward to some truly eye-watering, exclusive offers. Avo will be working relentlessly to bring more Apple products into an affordable price range, with the ultimate goal of becoming the champion of inflation-beating prices for all South Africans. Benefits for Nedbank customers As if that wasn’t enough, Nedbank customers will be able to get even more value. Main-banked Nedbank customers can easily convert their Greenbacks into Avo points in-app, making Apple products more affordable and accessible than ever before. Avo continues to make its mark on the e-commerce landscape in …
Nedbank playing key role in nurturing green businesses in SA
As we celebrate World Environment Day on 5th June, it’s clear that environmental action has to accelerate significantly if we are to preserve our planetary ecosystem. Nedbank firmly believes that a sustainable and effective programme of environmental action needs a solid grassroots foundation based on value creation and profitability. “For the green revolution truly to take hold, it needs be driven by the entrepreneurial flair that South Africans have in such abundance—business is the engine of growth and therefore what we need to create urgently is an ecosystem of green businesses to turn environmental action from a moral good into ‘business as usual’,” says Poovi Pillay, Executive Head for Nedbank Foundation. “If we achieve this, we will create not only a new breed of businesses that play a positive environmental role, but we will also drive community upliftment and genuine economic transformation.” Based on this thinking, late in 2021 Nedbank developed an innovative Green Economy CSI Strategy aimed at creating an ecosystem of partners to generate sustainable economic growth and empower rural and semi-urban communities. The Nedbank and Indalo entrepreneurship programme play a key role in this strategy. It is the brainchild of Indalo Inclusive, an established non-profit organisation dedicated to accelerating the creation of high-impact and inclusive enterprises that drive financial sustainability alongside social and environmental change. The programme offers both financial and technical expertise to community-based businesses that have a high potential for creating work while positively impacting the environment. Already, the first cohort of Indalovators has reached the Grow phase of the entrepreneurship programme, during which they will be assisted in refining their business models and establishing how to generate consistent income. Located in Johannesburg, Kanyisa Mawethu Foundation creates backpacks out of recycled water-resistant material. The …
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Nedbank Recognised As Best Retail Bank And Best Bank For SMEs In Africa and South Africa
The 2022 instalment of the Asian Banker Excellence in Retail Financial Services International Awards 2022 has seen Nedbank crowned Best Retail Bank in Africa and South Africa as well as the Best Bank for SMEs in Africa. The accolades come on the back of an in-depth independent assessment by a panel of international advisers using a comprehensive scorecard covering everything from strategy and financial performance to customer satisfaction, risk optimisation, and digitisation. According to Ciko Thomas, Group Managing Executive: Nedbank Retail and Business Banking, the awards validate the extensive work that has been put in recent years by both Nedbank Retail and Nedbank Small Business Services into enhancing their client value propositions to delivering banking experiences that add tangible value to their lives and businesses In the Retail Banking space, evidence of this value has come in the form of a steady improvement in all major client metrics in 2021. Nedbank increased its share of main banked clients from 11,2% in 2021 to 12,4% in 2022 over the same period*, building further on the steady growth it has experienced in this regard since 2018. Nedbank also deepened its retail client relationships, as evidenced by the steady growth in its cross-sell ratio (a measure of the number of products per client), which increased from 1,78 in 2020 to 1,86 in 2021. All this helped Nedbank grow its Retail Banking revenues by 6,4% in 2022, the second-fastest growth among South Africa’s big 5 retail banks. “This steady growth in retail client numbers and cross-sell ratio is not only a consequence of the consistent effort we have put into improving our sales performance and reducing client attrition through innovative lifecycle management initiatives,” Thomas says, “it also reflects the growing appeal of Nedbank’s retail banking offering, which leverages a platform banking approach with a digital empowerment focus to enhance the finances and lives of our …
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Over R5,5 million in prizes already won in the popular Expand game, and more South Africans are playing every day
The revolutionary app, Expand, has taken South Africa by storm. At 20:00 every weeknight, you’ll find tens of thousands of people from every corner of the country glued to their mobile device screens in an attempt to win their share of cash and airtime, and a chance to win up to R10 000 in cash. A first of its kind globally, Expand is a digital game of skill that was made possible through a partnership between Nedbank and Expand. Since Expand first launched on 4 October 2021 as a web-based game, thousands of fun-loving South Africans have shared in cash and airtime prizes worth more than R5,5 million. According to Maude Korte, Head of Commercialisation for Nedbank Retail and Business Banking, Expand is a great example of how the bank is leveraging opportunities to partner with cutting-edge fintech and martech companies to go beyond banking. ‘Our involvement with the Expand game is one of the ways in which we’re harnessing the power of digital to deliver on our promise to help South Africans see money differently in this case, that money can be both rewarding and fun,’ says Korte. Korte says that while the game platform has changed from web to app, Nedbank is still giving players the chance to boost the value of the cash prizes they win. ‘We’ve had over 1 000 accounts opened thus far, which means many Nedbank clients have had the opportunity to double their winnings simply by having an active Nedbank savings, current or cheque account, excluding children’s accounts and MobiMoney,' she says. Warren Bedil, CEO and co-founder of Expand, says that the growth experienced by the platform over the past six months has not only been seen in the increasing number of players, but also in terms of the popular South African and international brands that are participating in the games. 'Advertisers are fast realising that Expand gives their brand valuable exposure to a captive audience of engaged consumers from all walks of life,' he adds, 'and as a result, we are …
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Nedbank accelerates rollout of new branch concepts on the back of positive client responses
• Over 90% of branch visitors satisfied with services • More than 100 branch reformats planned for 2022 A year ago, Nedbank took the bold step of reimagining the way its clients bank when it began the rollout of its new bank branches, which combine the ease and convenience of digital self-service with access to personal attention from professional Nedbank staff if required. The reimagined Nedbank branches provide clients with a choice of three distinct service zones, offering self-service, staff-assisted service or expert money advice. According to Werner Terblanche, Managing Executive: Nedbank Integrated Channels, this approach seems to be resonating with the bank’s clients. Insights gathered from clients on their experience of the reimagined branches indicate a high level of satisfaction, with over 90% saying that they found it easy or very easy to complete transactions. “Nedbank introduced these new branches in response to the changing needs of our clients,” Terblanche explains, “and all feedback points to high levels of client appreciation of the new formats, which give them the flexibility of a ‘hybrid’ service approach, effectively allowing them to choose how they want to engage with us.” Terblanche says that one of the feature’s fast gaining momentum is the easy appointment booking system. “Our clients are able to use their Nedbank Money app or Nedbank Online Banking to pre-book a date and time with a branch consultant,” Terblanche explains, “meaning that they don’t have to wait in a queue to get face-to-face financial guidance or assistance with a complex issue or query that they are unable to resolve themselves.” He explains that, for many Nedbank customers, a visit to one of the new Nedbank branches can also be quite educational, because the policy of branch staff is to guide clients through the digital processes, rather than completing their transactions for them. “The aim is to empower our clients with the knowledge and tools to do their …
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Now you can earn rewards just for paying your bills on the Nedbank Money app and Online Banking
If you thought that paying your bills could never be a rewarding experience, think again. Nedbank’s new Bill Payments feature is set to make bill payments far more rewarding by giving clients Greenbacks, SAA Voyager Miles or American Express Membership Rewards for every bill they pay. The extensive bill payments and bill management feature, available on the Nedbank Money app and Online Banking includes more than 500 listed beneficiaries. With this, you will be in full control of your regular or monthly bills, able to keep track of payments, set payment rules for each beneficiary and, best of all, earn valuable rewards whenever you make a payment to a service provider listed, provided that the card selected for the bill payment is eligible for rewards on spend. Nedbank developed the Bill Payments solution in response to research that showed that South Africans prefer to pay around 60% of their regular bills manually because they worry about errors or double debits if they automate these payments, for example using a debit order or scheduled payment. This percentage increases for bills that vary from month to month, like utilities and municipal accounts. According to Chipo Mushwana, Executive: Emerging Innovation at Nedbank, the free Bill Payments feature is yet another way that Nedbank is delivering on its commitment to leverage its digital platforms to help its clients manage their money better. ‘As part of our commitment to go beyond banking, Nedbank is always looking for new and innovative ways in which we can add value to the lives or our clients,’ Mushwana says, ‘and since paying bills is something that everyone has to do, but nobody enjoys, we decided it was high time to make paying bills a much more gratifying and rewarding experience – and our Bill Payments function on the Nedbank Money app is the result.’ Nedbank Bill Payments offers an array of user-friendly features designed to make it easy to manage and streamline the payment of bills like …