Old Mutual Launches Mobile Virtual Network Operator Ahead of 2025 Bank Launch

Old Mutual has introduced its Mobile Virtual Network Operator (MVNO) service, Old Mutual Connect, as part of its preparation for the launch of its bank in early 2025. This move positions the insurance giant to offer competitive mobile services tailored to the needs of a fast-paced, connected world.

Targeting the lower-income segment, Old Mutual Connect will offer customers “unparalleled value in data packages,” the company said in a statement. The MVNO launch is part of Old Mutual’s Integrated Financial Services (IFS) strategy, which aims to deliver added value to its customers through affordable digital services.

Clarence Nethengwe, CEO designate of OM Bank and managing director of Old Mutual’s Mass Foundation cluster, emphasized the importance of affordable data and reliable connectivity for mass-market customers. “Connectivity is essential for our customers to fully participate in the economy and access our other services digitally,” he said. “With Old Mutual Connect, we are leveraging a multi-operator core network to provide reliable, high-speed mobile services.”

Old Mutual Connect’s offerings are built on the company’s deep understanding of the mass market. The MVNO aims to meet core customer needs by offering:

• Affordable SIM Cards and Data: Customers can purchase a SIM card for just R5 at any Old Mutual branch, with data and airtime available through branches, partners, and digital channels.
• Personalized Data Bundles: A range of customizable data bundles that deliver exceptional value for individual users.
• Hassle-Free Onboarding: Customers can easily RICA their SIM or port their number at any Old Mutual branch with straightforward assistance.
• Reliable Network Coverage: The service promises solid LTE network coverage across the country, supported by Old Mutual Connect’s infrastructure partners.

To further entice customers, Old Mutual Connect is offering several promotions:

• Free Data on Sign-Up: Activate your SIM and receive 1 GB of free data.
• Double-Up Promotion: Purchase any data bundle and get an additional bundle of the same value for free.

Nethengwe emphasized Old Mutual’s long-standing commitment to enhancing customers’ lives through innovative products. “The launch of Old Mutual Connect is a testament to how far we are willing to go to meet our customers’ evolving needs.”

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