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Digital 21 May 2021

Standard Bank has over 1.4m add store users after three months

Johannesburg,  May, 2021 – More than 1.4 million Standard Bank customers have downloaded add-ons from the mobile banking app since the Add-on Store launch in February.

The Add-On Store  gives customers the ability to download a host of banking products and services, in the form of widgets, called add-ons, within the app. 

The Add-on Store works in a similar way to the Apple App Store or Google Play Store, allowing a user to browse and decide if they want to add an add-on onto their banking app.  It also provides customers with detailed descriptions of each add-on, plus the ability to rate and review, re-order and remove any add-on at any time.  

“This is a tremendous growth rate and has exceeded our expectations,” says Andrew van der Hoven, Head Digital and eCommerce for Consumer High Net Worth at Standard Bank Group.  “It is really encouraging as it shows what is top of mind for our customers at present. The highest enabled add-ons were UCount and Virtual Card followed by insurance. The insurance add-on is particularly powerful and allows our customers to digitally claim for home and vehicle insurance. More than 5 500 customers have used it to date.”

Customers  are also able to rate add-ons and give comments. The most reviewed add-on is UCount and the highest rated add-on is Future Payments – this has a rating of 4.73 out of 5. The Future Payments add-on helps customers understand what their upcoming payments will be and plan appropriately.

“There will be future enhancement coming to the Add-on Store and some very exciting services linked to this that can save customers real money and financial costs. We will continue to increase the add-ons based on our customers’ demand. We also hope to increase the diversity of solutions offered,” Van der Hoven said.