By: Mpho Shelile
Maseru – First National Bank (FNB) Lesotho introduces a new cross-border payment solution on the FNB app called Forex on App (FX on App), allowing for more convenient and secure international transactions.
It is aimed at providing Basotho with more convenient and secure international transaction options.
This new feature is designed to simplify the process of sending and receiving money across borders, ensuring that transactions are fast, reliable, and accessible through the FNB app.
By introducing this feature, FNB Lesotho’s purpose is to support the economic activities of Basotho, allowing them to connect more efficiently with international markets and loved ones abroad.
With just a few taps on the FNB app, users can now initiate and complete international transactions from the comfort of their homes or workplaces.
The cross-border payment solution offers competitive rates starting from just R200, making it an affordable option for individuals and businesses. This initiative is part of FNB’s broader strategy to enhance digital banking services so as to promote financial inclusion and facilitate instant payments.
Motšeare Tšosane, Head of Commercial, Corporate and Investment Banking explains that security is a top priority for FNB Lesotho, adding that this new feature reflects the bank’s commitment to safeguarding its customers’ financial activities.
The cross-border payment solution incorporates advanced security protocols to protect users’ data and ensure that their transactions are conducted safely and efficiently.
“We are thrilled to launch this innovative functionality, which we believe will be helpful, convenient, and easy to use even in the comfort of our own homes. The convenient platform comes at a favourable time as the banking industry makes positive changes in the way payments are made and received in CMA countries,” says Tšosane.
Tšosane adds that FNB Lesotho continues to offer best banking solutions for Basotho in a simplified, safe, easy and secure way.
FNB Lesotho Forex Consultant, Matila Moorosi in her remarks states that by introducing the new functionality to the FNB App, FNB Lesotho aims to support the economic activities of Basotho, enabling them to connect more efficiently with international markets and loved ones abroad.
Whether it’s sending money to family members, paying for goods and services, or conducting business transactions, the new solution is set to facilitate smoother and more secure financial interactions on a global scale.
“Clients will find the following functionalities on the app, global payments, global receipts and forex rates, there is also history section which is convenient when it comes to clients checking whether they have made payments or were payed,” she said.
Moorosi concludes by stating that a client must have an email on which every notification can be found. Adding that FNB Lesotho’s latest offering is a testament to the bank’s ongoing efforts to promote financial inclusion and digital banking innovations. By making international transactions more accessible and secure, FNB Lesotho is empowering Basotho to participate more actively in the global economy.
To give his closing remarks FNB Lesotho CFO, Kamoho Mocheba states that the integration of the cross-border payment solution into the FNB app highlights the bank’s dedication to providing user-friendly and accessible financial services.
He further states that normal closing hours at banks are 15:00, but with this new app clients are able to use the account even in the comfort of their own homes, “Customers can now enjoy the convenience of managing their international transactions alongside their regular banking activities, all within a single, intuitive platform,” Mocheba concludes.
The launch of the cross-border payment solution on the FNB app is a milestone for FNB Lesotho and its customers. As the bank continues to innovate and expand its services, Basotho can look forward to more advancements that cater to their evolving financial needs.
With this new feature, FNB Lesotho is not only enhancing the convenience and security of international transactions but also contributing to the broader economic development of the nation.