PROFILE
SUCCESS IN AN UNUSUAL SOCIETY
‘FNB’s successes are in service, innovation, reputation and the
emotional affinity of its customers. Much more needs to be done
when it comes to processes – making banking less cumbersome and
demystifying banking,’ Michael says.
FNB operates in a very unusual society – a combination of first
and third worlds, and many cultures. It embraces people who enjoy
standing in queues because it’s part of socialising, and those who will
avoid queues at any cost. Through its offerings online, at traditional
branches (some differentiated by extended banking hours) and new
FNB EasyPlan branches, FNB is catering for everyone. EasyPlan
(with banking fees from R3.95 a month) offers basic services and
saw one of the fastest branch rollouts ever – about 100 branches in
one year.
FNB is expanding its African footprint and recently opened in
India. ‘There is a cultural fit and we can leverage our technological
innovations, especially for cellphone banking,’ Michael says.
How does he view the competition? While he says he respects all
the other banks in South Africa, ‘I’m paranoid about non-traditional
entrants into the banking sector – the real challenge I fear is the
day an Apple or Google starts offering financial services.’ He went
on to say that ‘only the paranoid survive,’ which is reminiscent of
Raymond Ackerman’s reason for his success: ‘the fear of failure’. ■
This interview is available in full at www.capeinfo.com
MICHAEL JORDAAN: BRIEF CV
2004 – present | CEO | First National Bank
2000 – present | Executive Committee member | FirstRand Banking Group
2002 – 2004 | CEO | Customer Solutions Division-FirstRand Retail Cluster
2000 – 2002 | CEO | eBucks.com SA (Pty) Ltd
1999 – 2000 | CEO | FirstRand Property Cluster
1999 – 2000 | Chair | FNB HomeLoans
1998 – 1999 | Chief Executive Officer | Origin
1994 – 1995 | Class of Programme | Rand Merchant Bank
1992 – 1993 | Corporate banker | Deutsche Bank AG Frankfurt
1991 – 1992 | Management trainee | Deutsche Bank AG Hamburg
1990 – 1990 | Commissioned Officer | South African Navy
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