Standard Bank South Africa enhances digital banking with transactional banking app
28 June 2012

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 services. 

"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. 

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