From 1 July 2015, WesBank’s Fleet Division will report into sister bank FNB’s Credit Card Division. This will afford WesBank’s Fleet customers improved exposure to the FirstRand Group strategy of aligning expertise in the respective channels of Merchant services, Transactional Banking and Vehicle Asset Finance. This move will see both parties bringing the best of their banking and industry expertise to the table, with customers set to benefit.
“With this approach, we’re able to innovate and offer our customers the best possible services and experiences,” says Chris de Kock, CEO of WesBank. “The services offered by our fleet division, fall under transactional banking, and moving these to the market leader in this area is a logical choice.”
WesBank’s Fleet Card provides businesses with a secure, cash-free solution for managing their vehicle fleets. The cards can be used to pay for fuel, oil and tolls. Additional fleet services and data allow businesses to manage costs; vehicle licenses; e-toll registration and payment; payment of traffic fines; and track refueling across vehicles to reduce instances of fraud.
The move will not affect staff, partners or customers negatively in any way, and businesses making use of WesBank Fleet cards will experience no downtime or changes. FNB’s established infrastructure, expertise, and technical knowledge in transactional banking, will be used to optimise offerings for Fleet Card customers and grow the business in the coming months and years.
“This natural move will bring even more value to Fleet Card holders and forms part of FNB’s customer-centric philosophy,” says Chris Labuschagne, CEO of FNB Credit Card Division. “Combining our transactional banking knowledge with WesBank’s industry leadership in automotive offerings, will give the market the best of both worlds, as well as bringing opportunities for growth and innovation to this segment.”