FNB: financial access beyond nationality

For many people in Africa, managing and moving money extends beyond a single country. Someone working or temporarily residing in South Africa may also be supporting family in another country. And a small business owner in Johannesburg may source stock from neighbouring countries while managing staff, suppliers and household expenses.

Many people move between personal and business banking throughout the day, using digital tools to manage money across countries, currencies and communities. Today, financial responsibilities no longer fit neatly into one account or one category. Throughout Africa, people have long moved, traded and built lives across borders, and the economies connecting them are more integrated than ever.

“FNB’s individual foreign customer base is projected to reach approximately 517,000 customers by the end of this financial year, which reflects growing demand for banking that supports more connected financial lives,” says Dr Stanton Govender, executive head of Foreign Nationals and Non-Resident Banking at FNB. Traditional banking systems were built around fixed categories, with personal, business and cross-border banking treated as separate needs. But financial behaviour has changed.

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People now move fluidly between these responsibilities, and their expectations of banking have also changed. Many people balance different financial realities: managing household finances while building businesses, banking digitally while still operating in cash-driven environments and supporting family across borders while creating stability where they live and work. Being able to earn, transact, support family, run a business and move money without disruption has become essential People want more than basic access to banking.

They want continuity across the different parts of their financial lives, withbanking solutionsthat help them manage these responsibilities together rather than as separate experiences. Being able to earn, transact, support family, run a business and move money without disruption has become essential, particularly for those balancing responsibilities across borders. Banking plays an important role in helping these households maintain stability and participate more fully in the economy.

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