How to become the world’s most innovative bank?

We’re going to show four slices of that interview over the next week, and the first of these is about how that initiative started.

And how as a young CEO Jordaan responded to an initial challenge from his staff to the idea, and in doing so created a symbolic moment that galvanised the culture to take the new strategy seriously.

In our second video post from my interview, Michael Jordaan, the CEO of First National Bank, explains how one idea led to string of subsequent ideas which resulted in FNB becoming the biggest distributer of iPads in Africa.

Low interest rates in South Africa has meant there has been very little incentive for South African’s to join the formal banking system. Still today nearly 40% of South Africans are unbanked.

FNB had huge success in opening new accounts however when they launched their ‘millionaire-a-month’ initiative in 2008. FNB CEO Michael Jordaan explains all in this third video clip from our interview.

In our final video post from the FNB CEO Michael Jordaan he explains how FNB launched their own currency called ‘e-bucks’, which quickly became the biggest financial rewards programme in South Africa.

Read more from Adam.