FNB has recently released a press release that states that as part of its ongoing attempt to provide its customers with convenient financial solutions and services, it has enabled 22seven limited access to its customers’ accounts.
FNB, currently leading the way in innovation with its very own banking app and partnership with paypal for its withdrawal service, is now the first of the major banks to allow the personal money management startup to have access to its customers’ accounts. This is in contrast to Absa Bank, who recently blocked 22seven from accessing its own customers’ account information.
Lee-Anne van Zyl, CEO Online Banking at FNB says that “œFNB has set a precedence of responding to our customer‘s needs with innovative products and services. We are now providing a secure means to engage with 22seven in response to our customers‘ need to learn more about their financial behaviour.“
FNB online customers can set up a secondary user on their online profile, already available on FNB Online Banking, that will require different username and password login details. This secondary user profile then enables users to select the accounts they wish to share, but offers limited functionality.
For clients who have already signed up to 22seven using their primary transactional profile, FNB recommends that they reset their primary user details with a new username and password. Clients can then set up a secondary user profile to use the 22seven service.
van Zyl does state that “It remains the responsibility of the client to ensure that their secondary user is set up to “œview access“ only. However, FNB will work closely with 22seven to ensure that our customers only use the view access only profile when using the 22seven service.”
As a result of these developments, Christo Davel, CEO of 22seven says that “For us its about building a service for our customers so they can learn about their financial behaviour. The service must let them do things easily and that means working with the banks. Its great to be collaborating with FNB and we look forward to working with all of South Africa’s financial institutions in the near future.”
