{"id":244755,"date":"2022-12-05T12:48:54","date_gmt":"2022-12-05T10:48:54","guid":{"rendered":"https:\/\/mypr.co.za\/?p=125885"},"modified":"2022-12-05T12:48:54","modified_gmt":"2022-12-05T10:48:54","slug":"nedbank-delivers-digital-innovations-to-help-smes-succeed","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/nedbank-delivers-digital-innovations-to-help-smes-succeed\/","title":{"rendered":"Nedbank delivers digital innovations to help SMEs succeed"},"content":{"rendered":"<aside class=\"scaip scaip-1 \">\n<aside id=\"republication_tracker_tool-2\" class=\"republication_tracker_tool clearfix\">\n<h5 class=\"adtitle\">Republish for Free<\/h5>\n<div class=\"license\">\n<p><button name=\"Republish This Story\" id=\"cc-btn\" class=\"republication-tracker-tool-button\">Republish This Story<\/button><\/p>\n<p><a class=\"license\" rel=\"noreferrer license noopener\" target=\"_blank\" href=\"http:\/\/creativecommons.org\/licenses\/by-nd\/4.0\/\"><img decoding=\"async\" alt=\"Creative Commons License\" class=\"lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/12\/nedbank-delivers-digital-innovations-to-help-smes-succeed.png\"><\/a><\/p>\n<p><img decoding=\"async\" alt=\"Creative Commons License\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/12\/nedbank-delivers-digital-innovations-to-help-smes-succeed.png\"><\/div>\n<div class=\"message\">\n<p>Republish our articles for free, online or in print, under a Creative Commons license.<\/p>\n<\/div>\n<\/aside>\n<\/aside>\n<p><a href=\"https:\/\/mypr.co.za\/?attachment_id=125886\"><img loading=\"lazy\" decoding=\"async\" alt width=\"288\" height=\"300\" class=\"alignleft wp-image-125886 size-thumbnail lazyload\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/12\/nedbank-delivers-digital-innovations-to-help-smes-succeed.jpg\"><\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-125886 size-thumbnail\" src=\"http:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/12\/nedbank-delivers-digital-innovations-to-help-smes-succeed.jpg\" alt width=\"288\" height=\"300\">At a recent discussion on how digital innovation is transforming SMEs hosted by Nedbank it was clear that South Africa\u2019s SMEs are alive to the possibilities that digital technologies offer them.<\/p>\n<p>According to Ciko Thomas, Group Managing Executive: Nedbank Retail and Business Banking, this view is backed by research undertaken by Xero. \u2018The global small business platform suggests that South Africa\u2019s small businesses are gearing up for growth. Xero\u2019s research shows that 34% of SMEs are preparing to expand into new markets and 85% are investing boosting investment in technology and cloud skills,\u2019 says Thomas.<\/p>\n<p>\u2018At Nedbank, we passionately believe that SMEs are crucial to our country\u2019s economic future. We\u2019ve put a lot of thought into developing digital solutions that make it easier for them to access banking innovations that save time and allow them to develop new revenue streams,\u2019 he says. \u2018We also recognise that bankers have to align themselves with their customers and provide more than just financial services.\u2019<\/p>\n<p>Nedbank developed a comprehensive digital offering targeted specifically at SMEs. It\u2019s a given that SMEs can open accounts online or via the Nedbank Money app, but the bank offers a start-up bundle with free banking for six months, plus a dedicated banker, for SMEs with a turnover of less than R3 million. SMEs can also access finance online, be it an overdraft facility, vehicle or asset finance, or a term loan.<\/p>\n<p>\u2018Access to finance is one of the big success levers for a small business wanting to become a bigger one\u2014we are making it easy for SMEs to overcome this barrier,\u201d Thomas says. \u201cOf course, all the normal banking functions are also available online or via the Money app, saving hard-pressed SME owners valuable time\u2019.<\/p>\n<p>Another area of focus is to make it easier for SMEs to accept payments digitally. South Africa has a strong cash economy, and many SMEs are largely reliant on cash. But, Thomas explains, digital payments can be much more convenient and also reduces the risk of holding cash.<\/p>\n<p>Digital payments also automatically generate a record that SMEs can use to access finance.<\/p>\n<p>The hallmark of digital payments is innovation, and there are a growing range of solutions that open up new opportunities for smaller businesses. Nedbank was first to market with its Tap on Phone solution, enabling merchants to accept card payments directly with their own smartphones\u2014no need for expensive point-of-sale devices.<\/p>\n<p>Then there\u2019s the ability to pay and get paid via WhatsApp, South Africa\u2019s digital communication platform of choice, via Nedbank Money Message.<\/p>\n<p>\u2018QR codes are also coming into their own as a way to facilitate swift and easy payment, without the merchant having to have a dedicated device, electricity or even connection to the internet,\u2019 Thomas adds. \u2018By simply displaying a Masterpass QR code, the SME can accept payments via the customer\u2019s phone.\u2019<\/p>\n<p>Going well beyond the remit of a traditional bank, Nedbank has also developed a range of services that provide even more support to SMEs. These include learning opportunities and coaching, as well as innovative marketplaces where SMEs can get discounts on business supplies, market their services and even participate in an expanding digital marketplace, Avo. Avo is Nedbank\u2019s super app, providing a single platform on which users can access a wide range of products and services\u2014it now has 1.7m customers and 24 000 merchants.<\/p>\n<p>\u2018Avo is truly a great way for an SME to access a massive customer pool instantly and is helping many SMEs leverage digital technologies to do business more smartly,\u2019 he concludes.<\/p>\n<p><a href=\"http:\/\/mypr.co.za\/contact\/featured\/\">CLICK HERE to submit your press release to MyPR.co.za<\/a>.<\/p>\n<p> <span class=\"post-views-icon dashicons dashicons-chart-bar\"><\/span> <span class=\"post-views-label\">Press Release Views since 1 July 2022:<\/span> <span class=\"post-views-count\">44<\/span> <\/p>\n<div class=\"entry-pagination pagination\">Pages: <span class=\"post-page-numbers current\"><span class=\"screen-reader-text\">Page <\/span>1<\/span> <a href=\"https:\/\/mypr.co.za\/nedbank-delivers-digital-innovations-to-help-smes-succeed\/2\/\" class=\"post-page-numbers\"><span class=\"screen-reader-text\">Page <\/span>2<\/a><\/div>\n<p><a href=\"https:\/\/mypr.co.za\">Source: MyPR.co.za<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republish for Free Republish This Story Republish our articles for free, online or in print, under a Creative Commons license. At a recent discussion on how digital innovation is transforming SMEs hosted by Nedbank it was clear that South Africa\u2019s SMEs are alive to the possibilities that digital technologies offer them. According to Ciko Thomas, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":244756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9021,1],"tags":[3257],"class_list":{"0":"post-244755","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mypr","8":"category-south-africa","9":"tag-mypr","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/12\/nedbank-delivers-digital-innovations-to-help-smes-succeed.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/244755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=244755"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/244755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/244756"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=244755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=244755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=244755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}