FNB Innovators awards R4m
First National Bank (FNB) has awarded R4 million in 2009 to winning ideas through its FNB Innovators initiative, in a bid to improve its service delivery and at the same time motivate staff to higher levels of excellence, it announced late last week.
Now in its fifth year, the initiative identifies and rewards staff who display creative thinking and come up with innovations to ensure more efficient and effective systems and procedures.
Winning ideas
The following innovations were awarded R1 million each respectively:
- FNB Connect, which offers online voice (voice over internet protocol) and data products that provide customers with flexibility and control over their telephone and internet costs
- Debt Remedy Programme, which is designed to assist FNB customers who are financially distressed to meet their home loan repayments through two core solutions - Special Arrangements or Quick Sell Plan
- Hogan Academy, which aims to create and maintain sustainable growth in resources and skills for mainframes by introducing the younger generation to mainframe technology and empowering them with skills and knowledge.
- Automated-deposit terminal (ADT), which provides an alternative self-service channel for depositing cash or cheques. It is able to detect fraudulent bank notes and process deposits with greater accuracy reducing the risk of human error when handling cash. The innovation improves efficiency, reduces the risk of accepting fraudulent money and provides a self-service channel for clients and Non-FNB banked clients to use 24/7.
According to Michael Jordaan, CEO of FNB, innovation can either be a new approach to an old process or a totally novel idea. "Innovation and customer service are at the core of our business. We continually encourage and reward innovation, as we believe this helps to entrench our philosophy of entrepreneurship. Every day we strive to develop more helpful client innovations. Innovations like these make a difference to how we efficiently service our customers," he said.
Working models
The competition does not serve merely as a suggestion scheme because the processes must have been implemented over a period of months. To date 34 000 ideas were received with 2 500 of these innovative ideas being implemented, the interest shown through the life of this campaign demonstrates the innovative thinking and entrepreneurial spirit lived by staff.
“We believe that it is people who make things happen and our Innovators campaign empowers and recognises people who are willing to challenge the status quo. We are proud that it fosters collaboration between colleagues and improves risk-taking in the organisation," says Jordaan.
Jordaan believes in innovation and the importance to embrace the possibilities that new technological developments bring. “However, we should never forget the basic principles of business and the fact that any new service that we introduce has to address a need required by our customers. This is ultimately what FNB Innovators hopes to achieve continually," he concludes.
