First National Bank is introducing a new concept - franchise banks.
This does not mean that next time you visit an FNB branch you will be served fast food as you stand in a queue.
Franchising is an attempt to meet the needs of the bank's diverse customer base by segmenting the bank.
Unlike some banks, like Nedbank, which have dumped thousands of customers to concentrate on high-net-worth individuals, FNB is recreating itself as a number of different banks.
Viv Bartlett, FNB's chief executive, says that for individuals the bank is being divided into three segments. At the top end of the scale there will be FNB Private Bank, which will service high-net-worth individuals. At this level you will pay for the bank to come to you and it will do almost anything including "walk the dog" - but at a price.
Apart from full banking services, private bank customers will also have access to top-level investment advice, both local and offshore, through the bank's Henry Ansbacher subsidiary.
At the other end of the spectrum is the Bob Bank, currently being re-branded as First Express. This segment is for people who want low costs with a fast and low level of service, which is provided mainly through "high tech" ATM banking.
In between are the personal bank franchises.
Under this concept, staff will be offered performance incentives based on the profits generated by the branch. But Bartlett says that this does not mean your bank manager will rob you blind to make sure a fat profit is made.
"Our cornerstone is to develop sustainable, long-term relationships with our customers. We have been here for 170 years. We are not in banking for the short term and we do not intend to shed profitable market share."
Bartlett says not only will the franchise banks have to make a profit but they will have to offer quality service. They will be judged on an on-going basis on both issues.
Nor will your manager be able to put your money at risk by making rash decisions to generate better profits. Bartlett says lending, for example, is now almost entirely data based-controlled. Your spending patterns on all your facilities from credit card to home loan to cheque account, are constantly monitored with the result that the bank knows your financial habits and managers have to work within these profiles when lending you money.
Bartlett says franchising does not mean that the bank will merely hand over a branch and only draw a franchise royalty.
But franchising banking will enable the manager and staff to make decisions about issues such as trading hours and whether to serve you coffee and tea.
For customers franchise banking means that you no longer have to stand in one queue to cash a cheque and another to get a new cheque book.
Staff will be multi-skilled. When you walk into a franchise bank you will not be faced by a number of queues. Instead you will take a seat at a desk opposite a bank official, who will service all your needs.
Edna Oberholzer, who heads the franchise development project, says all staff will be trained to deal with all of your requests from opening an account, doing transactions, providing foreign currency, a bank balance, a statement, a bank guaranteed cheque, a cheque book and dealing with personal and home loan applications. They will assist with buying and selling of unit trust funds and even provide assistance with wills.
Other services such as life and short-term assurance will also be provided in time.
Franchise banks are currently being set up mainly in major shopping malls around the country. There are 13 on line, five under construction and nine more lined up for transformation.