Monday, October 26, 2020

FNB challenges the private sector to learn from its business strategies

The Deputy Chief Executive Officer of First National Bank (FNB), Richard Wright, has challenged the private sector to learn from the bank’s business strategies, which have transformed it into one of the leading financial institutions in the country.

Speaking during the BOCCIM National Business Conference cocktail sponsored by the bank last week in Francistown, he said that the bank’s success is owed to the fact that it believes in the following of good ideas: creating an environment that is conducive for relentless innovation, maintaining market relevance and excellence in service delivery.

“At First National Bank of Botswana an innovation is not considered an innovation if it is only an idea, but only if it is fully implemented. It is this notable implementing of innovation which is our differentiating factor and strength,” he said.

He added that to prove that it is not any empty claim, a week ago the bank received the coveted status of the “Most Innovative Bank’ at the Bank of the Year Awards which were held in Washington DC in the United States of America (USA). He advised the business community to regularly look at ways of doing business, to look at its systems, processes, products and even service delivery.

Wright further told the participants that FNB Botswana does not only believe in breakthrough and sustainable innovation, but also believes in introducing innovations in the market.

“To mention a few, we were the first to introduce Pula credit card, first to provide internet banking, transaction based SMS or email messaging, instant account solution for SMME’s and even Cellphone banking,” Wright said.

He added that one of their cultures is their belief in value system, whereby accountability is treated with utmost importance. He said such a value encourages the bank to deal with work and life responsibly.

Wright concluded by saying that it is very important for any organization to have adequate leadership to act as implement catalysts, based on their experience, their insight and even their networks.

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