FNB moves further into tech, launches uncapped ADSL, seriously…

In a bid to take over everything digital in South Africa, fan favorite bank First National Bank today announced its Uncapped ADSL offering, with discounts of up to 100% on monthly subscription fees applicable for qualifying customers who sign up from 8 August 2013.

The Uncapped ADSL space in South Africa is in desperate need of shaking up and it seems the bank wants to do just that by offering its qualifying personal cheque Account holders and FNB Private Client customers somewhere between 10% and 100% off on some of the “most competitive uncapped ADSL” rates through FNBs internal Internet Service Provider, FNB Connect.

“FNB has always been the leader in terms of data rewards offered to customers. We have embraced the trend towards uncapped ADSL and wanted to offer a long-term deal which will distinguish FNB from the other players in the market. No other ISP gives their clients up to 100% discount off their monthly Uncapped ADSL subscription,” says Farren Roper, Head of FNB Connect ISP.

The product offering includes the following connectivity options: 384Kbps at R99 p/m, 1Mbps at R199 p/m, 2Mbps at R299 p/m, 4Mbps at R399 p/m and 10Mbps at R899 p/m with the added benefit and flexibility of a monthly subscription that can be upgraded, downgraded or cancelled month-to-month.

FNB be seems to be playing around with some sort of reward system to its customers with the 100% option. According to Irlon Terblanche, CEO of FNB Core Banking Solutions, customers can reach the 100% discount through banking efficiently and electronically, and holding qualifying products with FNB.

“The FNB discount on uncapped ADSL is one of the ways in which we are rewarding customers in a unique manner, this time by enabling internet access, something that has become a necessity for many customers,” says Terblanche.

The rationale behind FNB’s latest data offer was largely spurred on by South African internet consumption which showed an increase in the amount of time spent on the internet uploading and downloading content, browsing, engaging on social media platforms, and sending and receiving emails, often from more than one device per user. The ADSL market in itself has grown to 859 000* from 2011 to 2012. Through uncapped ADSL FNB wishes to not only secure its position as a key player in the data provision space but aims to contribute to increased internet penetration that has a positive correlation to economic growth, job creation and learning.

FNB has been making forays into digital and tech with its FNB Connect offering and hardware sales through its dotFNB stores. Clearly the bank is bored with just being a bank and attempting a being South African Google-like company.

Existing FNB customers can sign up for FNB uncapped through either www.fnb.co.za or FNB Connect at www.fnbconnect.co.za at no cost if they already own a Telkom ADSL line as well as a router.

“Free uncapped ADSL enhances the FNB value proposition and makes it possible for us to enable a digital lifestyle that not only simplifies banking but keeps our customers connected. We are of the belief that this offer will make a real and tangible difference to customers’ data bills and we are proud that we were able to develop this in-house,” says Roper.