Nedbank launches third ‘branch of the future’ for boutique-style banking

In the race for Africa’s most technologically advanced bank, Nedbank has just opened up its third tech-savvy so-called “branch of the future.” This boutique-style branch is situated in Hyde Park, Johannesburg and shares many of the same features of its counterparts.

Hyde Park Nedbank’s “Branch of the future” will provide customers with state-of-the-art technology to do banking in a ‘boutique’ like, ‘laid back’ self-service environment. Much like the branch found in KwaZulu-Natal’s La Lucia Mall, this free WiFi environment will feature iPads and video banking to add to its philosophy of queue relief and casual self-service.

“Innovation is driven by a need remain relevant in business and keep up with modern technology,” says Dave Schwegmann, Managing Executive of Nedbank. He goes on to point out that Nedbank believes that “boutique branches [like this] is the future of banking.”

Schwegmann further notes that for businesses to stay ahead of the curb in terms of profitability and sustainability they should adopt a futuristic stance to service-delivery.

“Nedbank is committed to making banking accessible to all South Africans and providing a fulfilling banking experience. The ‘branch of the future’ concept is our way of adapting to the constant changes in our environment. The concept has a critical role to play in the delivery of tailor-made services designed to meet the unique needs of South African consumers at every life stage,”

The idea of convenient self-service is furthered with Nedbank’s PocketPOS. This is an EMV‑certified mobile point-of-sale service that enables businesses to process debit and credit card transactions using smartphones connected to a secure card reader.

Other innovative conveniences offered by this “branch of the future” includes the following:

• A queuing system designed to facilitate faster service and provide clients with the option to continue shopping and be SMS’ed when a banker is available, if the queuing time will exceed 15 minutes;
• Confidential meeting rooms for retail and business clients;
• Significantly improved staff training for enhanced client service and the right financial advice; and
• Three additional service champions on the floor to ensure a friendly, welcoming and helpful experience.
• A full range of products and services including Nedbank Savvy, Nedbank ‘Ke Yona’ pay-as-you-use transactional account.
• The Nedbank 4me – ‘My Future, My Bank’ transactional account designed to encourage youth to save money and build financial fitness.
• MyFinancialLife™, an online personal financial management tool designed to empower consumers to manage their financial goals.
• The Nedbank App Suite that allows clients to transact anytime, anywhere from a Blackberry, Apple or Android device and a range of Nokia handsets.