First National Bank
First National Bank, a division of FirstRand Ltd. (JSE: FSR), is a South African retail, SME, and corporate banking franchise serving millions of customers across 9 African countries through branches, digital channels, and a proprietary merchant services platform.
- Company typePublic
- Founded1838
- HeadquartersJohannesburg, South Africa
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What First National Bank does
First National Bank (FNB) is a South African retail, SME, and corporate banking franchise operating as a division of FirstRand Bank Limited, itself wholly owned by FirstRand Ltd. (JSE: FSR), one of Africa's largest financial services conglomerates. Founded in 1838 and headquartered in Sandton, Johannesburg, FNB serves millions of customers across personal banking, over 1.2 million SME clients, and corporate and public sector clients in South Africa plus eight additional African countries (Botswana, Lesotho, Ghana, Namibia, Eswatini, Zambia, Channel Islands) with stated expansion into Kenya, Tanzania, Uganda, and Zimbabwe. The bank operates through a hybrid physical-digital model spanning branches, ATMs, the FNB App, Online Banking, WhatsApp eWallet, Speedpoint merchant devices, and dedicated corporate field sales teams.
FNB's technology stack centers on proprietary platforms including Speedpoint POS devices (Go, Pro, Tablet) with commission rates starting at 1.8%, eWallet digital wallet on WhatsApp processing over R43 billion in transactions annually, Globba cross-border payments via Mastercard Move reaching 120+ countries, and Visa Commercial Pay B2B payments with virtual card issuance and automated reconciliation. The merchant ecosystem includes FNB Connected Solution, SpeedeeApp, SpeedeeQR, and FNB Webstore (R59/month), supplemented by fintech partnerships with Littlefish (merchant OS) and the 26.1%-owned Optasia (AI-led lending platform processing 1.5 billion monthly credit decisions). Business productivity tools (Instant Accounting, Payroll, Cashflow, Invoicing) extend banking into operational software. The bank launched Department of Home Affairs Smart ID services at branches as part of a Home Affairs @ Home program scaling from 4 to 240+ branches.
Revenue mechanics are diversified across transaction fees (eWallet, merchant commissions, cross-border transfers), interest income (home loans, business loans, overdrafts, credit facilities), and recurring account/service fees across tiered segments (First Business Zero through Enterprise Business for SMEs; FNB Premier and FNB Private for affluent individuals; Islamic Banking for Sharia-compliant customers). Distribution combines product-led growth (self-service account opening, eBucks rewards with 85% consumer participation), direct-to-consumer (eWallet WhatsApp for unbanked users), and enterprise field sales (corporate B2B payments). Sub-brands include eWallet, Speedpoint, eBucks Rewards, Globba, H.E.R. Banking (women-focused), and SLOW Lounge (premium customer rewards).
First National Bank firmographics
Firmographics- Name
- First National Bank
- Legal name
- FirstRand Bank Limited
- Website
- https://fnb.co.za
- Company type
- Public
- Founded year
- 1838
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- First National Bank, a division of FirstRand Ltd. (JSE: FSR), is a South African retail, SME, and corporate banking franchise serving millions of customers across 9 African countries through branches, digital channels, and a proprietary merchant services platform.
- Ownership category
- akta.pro rank
First National Bank industry classification
Industry- Product category
- Retail and Commercial Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221), Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- National Commercial Banks (6021), State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Digital Banking & Neobank Platforms (BPAMAFAD), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ)
Keywords
Where First National Bank is headquartered
LocationHeadquarters
- HQ city
- Johannesburg
- HQ country
- South Africa
- HQ region
- Africa
Offices9 records
Markets served
First National Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Corporate Banking Services: B2B payment solutions, virtual card issuance, and corporate banking services targeting South Africa's $10 billion digital payments market through Visa and Mastercard partnerships
- Merchant Services Commission: Commission-based revenue from Speedpoint payment devices processing card transactions. Commission rates customized based on business turnover, starting from 1.8%
- Digital Wallet Services: eWallet services processing over R43 billion in transactions annually, with fees of R1 per payment to FNB accounts and R3.50 to non-FNB accounts, plus Cash Advance lending
- Interest Income: Traditional banking interest income from lending products including home loans, business loans, overdrafts, and credit facilities
- Account and Service Fees: Monthly account fees, transaction fees, and service charges across personal, business, and corporate banking segments with tiered pricing based on account type
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Speedpoint Go device - R699 one-time purchase or R230/month rental |
| Unit Pricing | Monthly | Speedpoint Pro device - R1,499 one-time purchase or R320/month rental |
| Unit Pricing | Monthly | Speedpoint Tablet - R4,999 one-time purchase or R500/month rental |
| Transaction based/ take rate | Monthly | Customized merchant commission rates from 1.8% |
| Transaction based/ take rate | Pay-as-you-go | eWallet WhatsApp - R1 to FNB, R3.50 to non-FNB per payment |
| Other | Pay-as-you-go | Smart ID service - R140 standard DHA application fee |
Go-to-market motion3 records
Distribution channels8 records
Marketing channels9 records
First National Bank product offering
Product offeringCore offering
First National Bank provides comprehensive banking services across personal, private, business, commercial, and corporate segments, including transactional accounts, credit facilities (cards, home loans, overdrafts), insurance, savings and investments, forex, and merchant card payment solutions. Digital delivery is provided through the FNB App, online banking, WhatsApp-based eWallet, and a physical branch and ATM network across South Africa, seven other African countries, and Guernsey.
Product overview
First National Bank (FNB) operates as a comprehensive banking platform offering personal, family, and business banking through digital channels (online, mobile app, WhatsApp), physical branch/ATM networks, and dedicated business centers. The core platform integrates multiple product categories: transaction and savings accounts, credit facilities (cards, loans, overdrafts), insurance, investments, forex, and specialized services. Key product lines include the FNB Merchant Services suite (Speedpoint POS devices, eCommerce gateway, SpeedeeApp, SpeedeeQR, FNB Webstore), eWallet digital wallets for financial inclusion, Cash Solutions for business cash management, and Instant Business Solutions (accounting, payroll, invoicing). Business banking segments by turnover (First Business Zero, Gold, Platinum, Enterprise) and by industry (Agriculture, Healthcare, Tourism, etc.) provide targeted services. Premium offerings include FNB Premier (affluent retail), FNB Private (wealth management), and Islamic Banking (Sharia-compliant). The bank extends internationally through Global Commercial Banking and regional subsidiaries across Africa (Botswana, Ghana, Namibia, Zambia, etc.). Partnerships with Visa (B2B payments), Mastercard (Globba cross-border), and the littlefish merchant platform ecosystem provide specialized payment capabilities.
Differentiator
Problem solved
Functional benefit
Brands
- eWallet: Digital wallet service allowing users to open accounts and transfer money via WhatsApp
- Speedpoint
- eBucks Rewards
- Globba
- FNB H.E.R. Banking
- SLOW Lounge
Products and services
- FNB Digital Banking Platform Unified digital banking platform providing personal, family, and business banking services through online, mobile app, and branch channels; offers transaction accounts, savings, investments, credit, insurance, and forex services for retail and business customers.
- Business Accounts Tiered business banking accounts segmented by annual turnover: First Business Zero (R0-R1m), Gold Business (R0-R5m), Platinum Business (R5m-R60m), and Enterprise Business (R60m-R150m+), each with tailored features and pricing for SMEs across Africa.
- FNB Credit Cards Range of credit card products for personal and business banking customers with various reward programs and interest rates.
- FNB Home Loans Residential mortgage financing for personal banking customers, supported by affordability and bond calculators to determine borrowing capacity.
- FNB Loans Comprehensive lending products for businesses including business loans, overdraft facilities, FNB Cash Advance, debtor finance, leveraged finance, private equity, securities-based lending, selective invoice discounting, and asset-based finance.
- Forex Services Foreign exchange solutions for businesses including imports, exports, foreign guarantees, structured trade and commodity finance, and Business Global Account (CFC) for international operations.
- FNB Insurance Personal and business insurance products covering life, car, home, and business assets, including funeral cover, credit life, and commercial insurance policies.
- FNB Connect Telecommunications and connectivity services including airtime, data, and prepaid products for mobile and business connectivity needs.
- Save and Invest Savings and investment products including notice deposits, fixed deposits, access deposits, tax-free investment accounts, offshore solutions, Ashburton specialized products, and financial planning advisory services.
- FNB Premier Premium banking service for high-net-worth individuals offering personalized banking, priority branch service, dedicated relationship managers, and exclusive product access.
- FNB Private Private banking division providing comprehensive wealth management, investment advisory, estate planning, and specialized financial services for affluent clientele.
- Islamic Banking Sharia-compliant banking products including Islamic business accounts and personal banking following Islamic finance principles for Muslim customers.
- FNB Merchant Services Card payment solutions and business tools including Speedpoint POS devices, eCommerce gateway, FNB Connected Solution, SpeedeeApp, SpeedeeQR, and FNB Webstore; provides fraud monitoring, next-day settlement, and customizable commission rates from 1.8%.
- Speedpoint POS Devices Range of card payment machines including Speedpoint Go (R699 buy/R230pm rent) for mobile payments, Speedpoint Pro (R1,499/R320pm) with business tools, and Speedpoint Tablet (R4,999/R500pm) for counter and mobile use; custom commission rates from 1.8%.
- FNB Webstore Online store builder with integrated payment gateway and delivery service integration, priced at R59 per month; enables businesses to establish online presence with full eCommerce capabilities.
- eWallet Digital wallet service accessible via FNB App and WhatsApp, enabling users without bank accounts to open wallets, send money, borrow Cash Advance (R50-R500), and purchase electricity, airtime, and entertainment vouchers; processed over R43 billion in transactions annually.
- eWallet Pro Business-oriented digital wallet with virtual accounts, bulk disbursement capabilities, and eWallet GEO locator for cash withdrawal network; designed for businesses requiring mobile wallet functionality and cash-out services.
- FNB Cash Solutions Comprehensive cash management suite including SmartBOX automated deposit machines, SmartTILL till management systems, Cash@Till deposit services, ATM Advance, and bulk cash processing for businesses handling significant cash volumes.
- FNB Fleet Services Vehicle fleet financing and management solutions for business customers with fleet operational needs, integrated with WesBank for vehicle finance partnerships.
- Global Commercial Banking International banking services for businesses operating across borders, supporting global commerce with correspondent banking relationships and multi-currency capabilities.
- FNB Branch and ATM Network Physical banking infrastructure with branch locators, ATM networks, @Till cash services, and telephone banking; includes Smart ID services at DHA-enabled branches for government document applications.
- eWallet on WhatsApp eWallet service launched on WhatsApp that lets new users open a digital wallet in minutes without an existing FNB bank account; targeted at unbanked and underbanked populations and processed over R43 billion in transactions in the past year. Pricing: R1 per payment to FNB accounts and R3.50 to non-FNB accounts.
- Visa Commercial Pay (VCP) B2B payments platform launched with Visa and RMB, enabling secure virtual card issuance, automated reconciliation, and centralized spending visibility for corporate clients across South Africa.
- Globba Cross-Border Payments Cross-border payments solution built on Mastercard Move, enabling efficient and secure international money transfers to over 120 countries, with initial focus on African corridors such as Zimbabwe, Malawi, Mozambique, and Ghana.
Quantifiable outcome
- Over R43 billion in eWallet transactions processed in the past year
- +3 more outcomes
Companies that use First National Bank
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles4 records
First National Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability4 records
Feature5 records
First National Bank partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- VisacoreFNB launched Visa Commercial Pay (VCP), an integrated B2B payments platform enabling secure virtual card issuance, automated reconciliation, and centralized spending visibility for corporate clients in South Africa. The platform targets South Africa's digital payments market estimated at approximately $10 billion, positioned as a reference case for broader African market expansion.
- Rand Merchant Bank (RMB)coreRMB partnered with FNB and Visa to launch the Visa Commercial Pay B2B payments platform in South Africa, bringing enterprise payment infrastructure typically found in mature markets to the local operating environment.
- Department of Home Affairs (South Africa)coreFNB launched Department of Home Affairs Smart ID Card application services at branches as part of Home Affairs @ Home reform program. Initially 4 branches, expanding to 16 by April 2026 and target of 240+ branches within a year. Customers pay standard R140 DHA fee with no additional bank charges.
- Monday DesignminorFNB partnered with Monday Design and Author Digital Labs to co-present DiscovHer, a first-of-its-kind event in Accra, Ghana on March 21, 2026, celebrating and empowering women in the creative industry. Aligns with FNB's H.E.R. Banking proposition.
- Author Digital LabsminorCo-presented DiscovHer event with FNB and Monday Design, bringing together photographers, graphic designers, UI/UX designers, filmmakers, and visual artists for purpose-driven conversations.
- Edge GrowthminorFNB and Edge Growth opened applications for the 2026 SME Import Navigator Programme, an 18-month initiative (May 2026 to October 2027) supporting black-owned South African manufacturing SMEs with diagnostic assessments, mentorship, and specialist support.
- MastercardcoreFNB collaborated with Mastercard to launch Globba, a cross-border payments solution leveraging Mastercard Move, reaching over 120 countries for efficient and secure international money transfers. Initially targeting African countries like Zimbabwe, Malawi, Mozambique, and Ghana.
- WomenIN Festival 2025minorFNB announced partnership with WomenIN Festival 2025 in Cape Town (November 13-14) focusing on empowering women through financial and leadership initiatives. Programs extend beyond the event for ongoing support.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
First National Bank competitors and assessment
Company assessmentEmerging players
- TymeBank: South African digital-only bank targeting entry-level and underbanked retail customers. Closely comparable to FNB's eWallet and mass-market deposit strategy, with a similar low-cost, app-first acquisition model.
- Discovery Bank: South African digital-first bank built on Discovery's behavioural insurance and Vitality rewards ecosystem. Competes with FNB's eBucks-style loyalty and app-led retail banking experience, especially for younger and lifestyle-oriented customers.
Direct peers
- Standard Bank Group: Africa's largest bank by assets and FNB's closest domestic competitor across retail, SME, corporate and cross-border banking. Operates a similar multi-country footprint with comparable product breadth, making it the most direct South African incumbent comparable.
- Absa Group: One of South Africa's 'big four' banks offering retail, business, corporate and investment banking across the continent. Directly competes with FNB for mass-market, SME and corporate deposits, lending, and digital banking customers.
- Nedbank Group: South African bank with retail, business and wholesale banking franchises. Competes head-to-head with FNB in deposit gathering, SME lending, and corporate banking, with overlapping branch and digital distribution.
- Capitec Bank: South African digital-led retail bank known for low-fee transactional accounts and unsecured lending. Directly attacks FNB's mass-market consumer and entry-level SME segments with a simpler, lower-cost proposition.
Others
- Visa: Global payments network that is simultaneously a core FNB partner (Visa Commercial Pay) and a platform layer across which FNB's card and merchant products are issued. Comparable as the ecosystem enabler whose rails underpin FNB's card acquiring and B2B payments economics.
- Mastercard: Global payments network partnering with FNB on the Globba cross-border product via Mastercard Move. Comparable as a network/technology enabler for FNB's remittance and card propositions across African corridors.
Regional players
- African Bank: South African retail bank focused on personal loans, credit and entry-level deposits. Comparable to FNB in its mass-market and unsecured-lending footprint, though narrower in product scope and not present in multiple African geographies.
- Ecobank: Pan-African banking group with a 35+ country footprint across West, Central, East and Southern Africa. Comparable to FNB's African expansion plans and cross-border ambitions, particularly relevant for the Globba corridor rollout.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights6 records
Customer concentration
First National Bank social profiles
Digital presenceFirst National Bank compliance and trust
Trust signalCompliance1 record
First National Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First National Bank leadership team
Management profileNumber of profiles
Profiles3 records
First National Bank subsidiaries and ownership
Company hierarchySubsidiaries8 records
First National Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First National Bank M&A and investment
M&A and investmentM&A2 records
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First National Bank
What does First National Bank do?
First National Bank provides comprehensive banking services across personal, private, business, commercial, and corporate segments, including transactional accounts, credit facilities (cards, home loans, overdrafts), insurance, savings and investments, forex, and merchant card payment solutions. Digital delivery is provided through the FNB App, online banking, WhatsApp-based eWallet, and a physical branch and ATM network across South Africa, seven other African countries, and Guernsey.
Is First National Bank a public or private company?
First National Bank is a public company. It is classified as public and is currently operating.
When was First National Bank founded?
First National Bank was founded in 1838. It employs 5,001 to 10,000 people.
Where is First National Bank based?
First National Bank is headquartered in Johannesburg, South Africa, in the Africa region.
How does First National Bank make money?
Five revenue lines are on record. Corporate Banking Services are the primary driver. The others are merchant Services Commission, digital Wallet Services, interest Income and account and Service Fees.
Who are First National Bank's main competitors?
Emerging players on record are TymeBank and Discovery Bank. Direct peers are Standard Bank Group, Absa Group, Nedbank Group and Capitec Bank. Others are Visa and Mastercard. Regional players are African Bank and Ecobank.
Does First National Bank have an API?
Yes. FNB offers an Integration Channel for third-party system connectivity, with dedicated accounting software integrations page indicating API-based connections for business tools. The Integration Channel (/integration-channel/index.html) enables third-party integrations with FNB's business banking platform. Additional product features including eWallet, eWallet Pro, merchant services (Speedpoint), and business banking tools suggest underlying API infrastructure, though specific public developer documentation, auth methods, rate limits, or sandbox availability are not detailed in the available source material.
What industry is First National Bank in?
First National Bank's product category is Retail and Commercial Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of BPAMAFAD, Digital Banking & Neobank Platforms. Its NAICS code is 52211 and its SIC code is 6021.