Nedbank, one of South Africa’s largest banks, says it had more than 2.6 million digitally active customers at the end of December 2022, a 13% increase from the same period in 2021.
“Our digital initiatives helped us to increase the number of digitally active retail clients in SA by 13% to 2.6 million,” Nedbank said.
“This now represents 39% of total active retail clients and 68% of retail main-banked clients.
“Retail digital transaction volumes in SA increased by 18% and transaction values up by 16% ( up by 40% since 2019).”
Nedbank added that digitally active customers across Nedbank Africa Regions increased by 18% and now account for 57% of the total active customer base.
Branch optimisation
“The digitisation of services in Retail and Business Banking and changing client behaviour have enabled us to reduce branch teller volumes by 63% since 2019,” Nedbank said.
The bank added that as it optimises its infrastructure through Project Imagine (its new digitally-focused outlets ), branch floor space has decreased by 18 000 m2 in 2022 (cumulatively by 84 000 m2 from 2014 levels ) to 164 000 m2.
Also read: Nedbank’s Avo Super App Reaches 2 Million Users
Nedbank’s Avo Super app has gained more than 2 million users since its launch on the app stores in June 2020, a 1.9-fold increase year-on-year and a near five-fold increase in the number of active users.
Nedbank informed investors today that Avo now has access to over 12 000 drivers in its delivery fleet across the country as product orders continue to grow exponentially.
