FNB Fiduciary: helping to further digitize the industry
(Norwich, UK, 5/11/2018)
Chief Information Officer (CIO) of FNB Fiduciary, Jaco Coetzee, and Chief Executive Officer (CEO), Vijay Morarjee, discuss the importance of embracing new technology in order to maintain the brands ecosystem.
“Digital transformation is an ongoing process,” says Coetzee. “It’s been a long journey to get to where we are now, but there is still a lot more to be done. It’s such a great feeling to reap the rewards when so many components start to converge.”
With 80% of the deaths reported to the Master of the High Court South Africa confirmed as deaths without a Will, Morarjee understands the considerable challenge of changing such a consumer mindset.
“There is an ongoing drive to ensure that we protect our customers by equipping as many of them as possible with a Will.”
“Building an ecosystem that helps us operate at optimal levels through a platform approach is a core focus for the bank. This encourages and empowers our customers to take control of their banking, managing their finances and life goals.”
Through FNB Fiduciary’s transformation journey, the company set itself up in the digital space in an effort to reduce its reliance on paper. By providing its product online, it has allowed them to break into the digital sphere and expand their online footprint on platforms like Google.
“FNB Fiduciary has always been a business that's very paper-based, across all of the pillars, wills, trusts, estates, everything has always commanded a lot of paper,” explains Coetzee. “I think our big challenge now is to see how much of that paper we can cut out of our ecosystem to make the administration process simpler and more cost efficient.”
You can read more about FNB Fiduciary’s journey in the magazine.