28 June 2012
Standard Bank South Africa enhances digital banking with transactional banking app
Standard Bank South Africa has further enhanced its digital banking platform with
the launch of a new transactional banking application (app).
"In this increasingly digital age, Standard Bank is responding to the evolving needs
of our customers by providing yet another convenient channel of banking," says Itumeleng
Monale, Head of Self-Service Channels at Standard Bank South Africa. "Research indicates
that there are around 5 million smartphone users in South Africa, and an estimated
half a million tablet users, and this is set to grow."
In this context, Standard Bank South Africa believes the app will prove to be popular
among customers. The bank already has over a million customers active in online
banking, and close to 2 million cellphone banking customers. "We are now giving
our customers even more ways to bank with us using the technology at their disposal,
improving on simplicity and ultimately their convenience," says Ms Monale. "Customers
are empowered with the app to do their banking anywhere and at any time."
The new app is available for download to anyone using an iPhone, Blackberry or Android
device, with the tablet app scheduled for release shortly. The app is free to download
and using it carries no subscription costs; it will allow customers to conduct similar
transactions available through online and cellphone banking, but on mobile devices
and with a rich interface that makes full use of their specific device functionalities.
"Customers will be able to pay beneficiaries, transfer funds and buy airtime. Through
the app, customers can also send money to any other Standard Bank customer registered
for cellphone banking, by using just their cellphone number," says Ms Monale.
To ensure security, once a customer downloads the app, their phone is linked to
their electronic banking profile. This means their account can only be accessed
from their own phone. The app will also allow customers to access certain services
without needing to log on to their profile. These services include locating the
nearest Standard Bank South Africa branch, ATM, or AccessPoint, and seeing a map
of how to get there, calculating instalment payments for home or car loans, and
accessing numbers to report lost or stolen cards.
This transactional banking app comes post the development of Standard Bank Group's
research app, launched in October 2011, which provides research and information
"Standard Bank remains committed to providing customers with real banking value
and the tools to interact with us at their own convenience," says Ms. Monale.
To download the banking app, log on to your App store from your smartphone, and
search for Standard Bank.