Gigabit January 2019
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AFRICA<br />
of its banking applications. Based on<br />
USSD (unstructured supplementary<br />
service data) technology, Nedbank’s<br />
transactional product MobiMoney has<br />
also seen customers gain access to<br />
financial services via smartphone and<br />
feature phone, where they can deposit<br />
money into the account for free as well<br />
as send money to recipients for free.<br />
Other value-added services include<br />
purchasing prepaid electricity and<br />
more. “There have been examples of<br />
people wanting to buy prepaid electricity,<br />
they had to take transportation to<br />
get to a mall or vendor and it would<br />
cost them R60-80 to buy R100 worth<br />
of prepaid electricity. Now, it is at their<br />
fingertips and will cost next to nothing,”<br />
Govender adds.<br />
“We are solving problems that really<br />
matter to clients and address some<br />
of these key pain points. Through<br />
this particular platform we will build<br />
a lot more services that resonate with<br />
clients. It is also a free banking account<br />
that does not attract a monthly service<br />
fee.”<br />
Remaining aggressive in developing<br />
new digital tools and solutions for<br />
those in all walks of life, Nedbank is<br />
261<br />
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