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We have been awarded 2018 Bank of the Year in Africa, South Africa, Namibia, Zambia and Botswana by The Banker Magazine.
Standard Bank Group was recently awarded ‘Bank of the Year in Africa’ by The Banker Magazine. Standard Bank was also named ‘Bank of the Year’ in South Africa and Namibia, with Stanbic Bank being named ‘Bank of the Year’ in Zambia and Botswana.
The Banker Magazine’s annual Bank of the Year awards recognise banks that succeed in winning strategic advantage despite challenging market conditions. The awards honour the achievements of companies and individuals who have contributed significantly to the modernisation and expansion of the continent's banking and financial system, driving sustained and inclusive growth.
Specifically, The Banker recognised Standard Bank Group for its ability to adapt to shifting operating conditions, implementing strategic investments to meet changing client needs by delivering leading digital banking solutions.
When asked to define the ingredients of Standard Bank’s success, Sim Tshabalala, CEO of Standard Bank Group said: “First, we were guided by our purpose: ‘Africa is our home, we drive her growth’. This reminds us to think long-term while being fiercely competitive today. Second, our unique network across Africa and in key centres of global capital enables us to link Africans to each other – and the world. Third, our commitment to creating consistently excellent customer experiences.”
Standard Bank’s Instant Money solution, which provides a simple, safe and reliable way to send money to anyone with a basic cellphone regardless of whether they have a bank account, was one of the specific solutions that The Banker identified as driving sustained and inclusive growth in Africa. In 2017, Standard Bank expanded its Instant Money offering from a person-to person money transfer and bulk payments platform to also include a mobile wallet capability. This allows recipients to store, send and receive money using their mobile phones. Users are also able to buy high volume items, like prepaid electricity, airtime and data, as well as withdraw cash, even if they don’t have a bank account.
While developed and initially launched in South Africa, Instant Money has been rolled out and is now available on ATMs in Namibia, Uganda, Botswana, Lesotho, Swaziland and Zambia. Instant Money was expanded to Tanzania, Ghana, Zimbabwe and Malawi in 2018, with other African markets to follow in 2019 and beyond.
Finally, we acknowledge that these prestigious awards are not ours alone but belong to each and every one of our clients and employees who have joined us on our 2018 journey.
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