FNBB Eases Foreign Currency Transactions

FNBB CEO Steven Bogatsu
FNBB CEO Steven Bogatsu

First National Bank Botswana (FNBB) has enhanced its online self-service platform for cross-border transactions. This is part of the bank’s ‘Bricks to Clicks’ strategy, which maximises technology benefits to streamline and boost customer experience.

Dubbed “Forex Online”, the platform enables online payments and transfers of foreign currency for both individual and corporate clients, eliminating the manual process of submitting telegraphic forms at the branch.

According to the bank’s chief executive officer, Steven Bogatsu, customers can now execute transactions in a matter of minutes from the convenience of their homes or offices.

“Our clients can now make foreign currency transactions and trade internationally, anytime, anywhere, effectively saving them time and money,” he said.


Bogatsu said the latest enhancement of the online platform is amongst the many initiatives the bank has undertaken to make cross border transactions seamless for clients and affirms the accolade of Best Foreign Exchange (Forex) Provider in Botswana that was awarded to FNBB at the 19th annual World’s Best FX Provider Awards for 2019 hosted by Global Finance Magazine.

“It’s worth noting that the award was given for a third consecutive year reflecting continued commitment to excellence in cross border transactions, FX innovation and customer service,” he said. Bogatsu further stated that customer centricity underpins the essence of who they are as a bank highlighting that they place great value on their customers’ experience.

“That is why we constantly innovate by availing new ways and channels of banking to facilitate pleasant, easy, fast and secure banking for our customers”. Some of the bank’s “Bricks to Click” inventions include, Mobile Banking, Internet Banking and the Smartphone Banking Application (App), which is an all-in-one platform that gives customers the flexibility to transact anytime in a secure manner, as well as the functionality to prevent fraud by reporting suspicious transactions from their accounts. 

“Currently, digital platforms account for 90% of FNBB’s transactions. This not only fulfills the digital transformation strategy but drives our customer centricity agenda by creating real value for the customers in terms of convenience and cost efficiencies,” said Bogatsu.

Editor's Comment
What about employees in private sector?

How can this be achieved when there already is little care about the working conditions of those within the private sector employ?For a long time, private sector employees have been neglected by their employers, not because they cannot do better to care for them, but because they take advantage of government's laxity when it comes to protecting and advocating for public sector employees, giving the cue to employers within the private sector...

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