First National Bank (FNB) has launched its nav›› Home edition digital financial navigation service to simplify customers’ financial decision-making when buying or selling property.

The service is available on the bank’s mobile app.

The launch of nav›› Home is the first phase of the nav›› roll-out and provides customers the opportunity to search for new homes, get free instant value estimates, pre-approvals, calculators and access to a database of home service providers.

The service also gives customers control throughout the home buying or selling process and points out direct routes and clever shortcuts to navigating the home-buying journey.

“The instant value estimate, calculators and pre-approval process via nav›› Home ensure customers are in control of their finances. The site also offers free area and property reports that are pulled from a number of sources including the bank’s own valuation base built up over the years and the Deeds Office to give a comprehensive overview of a suburb or particular house,” FNB chief imagineer Jolandé Duvenage explained.

nav›› Home allows users to search for listed properties, as well as access area and property reports to assist price comparisons and neighbourhoods.

The Area Report function also offers average prices of homes in a neighbourhood, the average increase or decrease in property prices, the types of homes and profile of the buyers.

The Property Report function provides a free estimated value of residential properties customers might be interested in and includes the last bought and sold price, as well as an estimated current value calculation.

The instant home loan pre-approval for qualifying clients also includes the maximum home loan they qualify for and the deposit needed.

The calculators used on nav›› Home are able to work out monthly instalments and also provide an indication of all the other costs involved.

nav›› Home also provides access to a database of home service providers, such as moving companies, plumbing services and landscapers.

“nav›› is a simple and convenient tool which provides customers with smart ways to make the most of their money, be it in their business or personal capacity, and that can be accessed anytime, anywhere. 

“Under the concept of a ‘financial GPS’, we will be offering a number of helpful solutions over the next few years by combining finance and technology. We would like to help point our customers in the right direction when it comes to making wise financial decisions,” said Duvenage.

She explained that, “customers today look for value-added benefits from new technologies. When designing the nav›› application we looked at the customer demographic, needs, wants and pain points. We looked at things from our customers’ point of view and considered factors that influenced their behaviour and the world they live in.

“Creating this emotional connection is important in the overall design of the tool, which is important in determining whether our customers adopt new technologies and whether they will be successful or not.”

FNB’s nav›› service is expected to eventually include services across the company’s financial offering, including vehicle and small business finance navigation.