Absa, one of the banks with a large presence in Stellenbosch with branches on Plein Street, in Eikestad Mall and the Neelsie student centre, recently launched WhatsApp Chat Banking which received rave reviews in major publications such as the New York Times.
Although the platform launched a month ago, its innovation relies heavily on the use of existing banking technology, that is, namely the Absa banking app.
Albie van der Merwe, a Host at the Neelsie’s Absa branch, says that the link to the banking app is, in fact, a security measure.
“You need to have the banking app activated to receive a security message via the app where you need to confirm to link the WhatsApp banking to your service,” said Van der Merwe.
Van der Merwe guarantees that there will be no annoying slew of messages every time one uses the chat banking as the security message “is a once off.”
Albie van der Merwe and a colleague working at the Absa Neelsie Student Centre branch. PHOTO: Alundrah Sibanda
However, Absa customers such as Roxanne Mooneys (24), a B.A Humanities student at Stellenbosch University (SU), who have decided not to use the bank’s online services because of unsatisfactory customer service, will not be able to use the WhatsApp Chat Banking.
“I don’t use the WhatsApp banking,” she said. “I’ve seen all the ads and promotions on it. I used to use the Absa app and I locked myself out of that last year and I didn’t actually get any real help so that’s also why I don’t use WhatsApp banking.”
“I prefer now to either go to the ATM or to go inside the bank to actually do any transactions that I can’t do at the ATM because I feel that it works for me at the moment,” Mooneys said.
Van der Merwe highlights that the WhatsApp Chat Banking feature is a solution to integrated banking with the progression in the digital age.
“It is an additional platform for people to do their banking. People are mostly using WhatsApp, so while they are busy with WhatsApp they can quickly go and chat with Absa. You don’t have to go onto the PC or into the bank itself.”
He adds that no banking details or personal information are shared via the WhatsApp chat, so as soon as one starts chatting with the Absa bot, such information is automatically picked up from the linked banking app.
Gift Matashu, David Chihaye, Bheki Banda and Akhona Biyase relaxing on the couch at the entrance of Absa’s Neelsie Student Centre branch. PHOTO: Alundrah Sibanda
One Absa customer who studies at SU and uses the Absa banking app believes that the bank has not made enough of an effort to market WhatsApp Chat Banking to its customers in the area.
“I don’t use WhatsApp banking because I’ve never heard of it,” said Tinotenda Nyachiya (21), an Industrial Engineering student at SU. “I go to the bank quite often and I’ve never been told about it. I guess they’re not advertising enough. I probably wouldn’t use it because I like the app, but if I found WhatsApp [banking] to be more convenient then sure I would.”
“I’ve had a few students that actually like it and my friends that are also using it that are not students but are a bit older,” said van der Merwe. “They say it’s quite nice if you quickly want to do a balance enquiry. You can also do a credit check enquiry and see what your credit rating is so that’s also nice.”
Van der Merwe stated that no other South African bank is competing with the chat banking product which he agrees makes it easier for clients to spend their money.
“[It’s] easier for you to do your transactions,” said Van der Merwe. “Yes, it’s quicker and my colleagues that are using it say its quick to do airtime purchases and stuff. Just type in, ‘Hi’ and Absa will chat back, well, the bot will chat back to you.”