Important notice: Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.who.int 
  • Who we are
    • Our group at a glance
    • Our Values and Code of Ethics
    • Corporate Governance
    • Our Leadership
    • Our Structure

    Standard Bank Group is a financial institution that offers banking and financial services to individuals, businesses, institutions and corporations in Africa and abroad.

    Find out about:

    • Our Strategy
    • Our financial results
    • Our global presence
    Contact us
    Contact Centre
    0860 109 075
    International
    +27 11 636 9111
    All our products and services are based on a set of values that uphold the empowerment of our customers. Both internally, and in daily engagement with the our clients we foster transparency, innovation, accountability and superior service.
    Contact us
    Contact Centre
    0860 109 075
    International
    +27 11 636 9111
    We ensure that all our services and products across borders are compliant with local legislation wherever we go. As we grow in Africa, we will continue to review our systems and processes according to the best possible compliance and risk management skills.
    Contact us
    Contact Centre
    0860 109 075
    International
    +27 11 636 9111

    Our board of directors aims to promote the group’s long-term success. It delegates day-to-day management of the business and implementation of strategy to the Group Chief Executive, who is supported by the Group Leadership Council.

    Find out about:

    • Our Board of Directors
    • Our Group Leadership Council
    Contact us
    Contact Centre
    0860 109 075
    International
    +27 11 636 9111

    We operate across the African continent through a number of subsidiaries, to provide solutions to all our clients.

    Find out about  our subsidiaries.

    Contact us
    Contact Centre
    0860 109 075
    International
    +27 11 636 9111
  • Why we matter
    • Our Sponsorships
    • Our Achievements
    • Milestone timeline
    • Reporting to society
    Our sponsorship initiatives promote community upliftment through the support of sporting, art and music events, teams, festivals and clinics. We strive to nurture growing talents and to aid local communities to grow in their chosen fields.
    We are proud to be a part of what’s happening in Africa. By fostering growth opportunities on the continent, we believe that hands across borders will continue to strengthen business in Africa.
    Standard Bank Group Milestones

    We drive sustainable and inclusive economic growth in Africa. To ensure our commitment to making a positive and lasting impact, we have developed a framework of initiatives and objectives towards long-term social, economic and environmental upliftment.

    • Our purpose
    • Social, Economic and Environmental framework
    • Our impact areas
    • Download reports
  • What we do
    • Our Business

    We are a financial services group, offering services and solutions for 158 years, to Consumer & High Net Worth Clients, Business & Commercial Clients and Wholesale Clients in and across Africa as well as key global locations.

     

  • Whats happening
    • Voices of Resilience
    • Newsroom
    • Covid-19
    • Campaigns
    • HeforShe
    • Our Financials
    Get local and international financial report, analysis, commentary, banking news and all the stories you want to know.
    Latest news
    Peoples health and lives come first - Sim
    We're here for you as we face this pandemic
    Our teams are ready to serve our individual, business and corporate clients as usual. While doing everything we can to keep our staff and clients safe, and to flatten the curve, we have also taken all the necessary steps to ensure that our essential services will be able to function.
    Latest news
    Peoples health and lives come first - Sim
    We're here for you as we face this pandemic
    Our teams are ready to serve our individual, business and corporate clients as usual. While doing everything we can to keep our staff and clients safe, and to flatten the curve, we have also taken all the necessary steps to ensure that our essential services will be able to function.
    A view of all the campaigns within our group.
    Campaigns
    Changing the present to reshape the future
    At Standard Bank our dream is that everyone's dreams can be. We can work together. We can find solutions. And we can prove that with the right help, It Can Be.

    Gender equity is a fundamental human right, and Standard Bank Group has committed to help create a gender-equal world.

Standard Bank Group
Sign in
Standard Bank Group
Who we are
Who we are
Our group at a glance
Our Values and Code of Ethics
Corporate Governance
Our Leadership
Our Structure
Why we matter
Why we matter
Investor Relations
Sponsorships
Digital 3 September 2021

Standard Bank’s Unayo platform set to disrupt mobile money status quo in Africa

A global digital platform that addresses the unsolved payment needs of communities, through innovation and accessibility.

Unayo also holds the potential to initiate a richer savings and investing culture in these ecosystems, as the receivers and holders of funds are able to create society and shared savings schemes. Unayo also allows for the management of funds and the participants of the collective funding in one place, from one profile, in a simple and understandable manner and without data restrictions.

Fisher says that the unique beauty of Unayo is its unlimited capacity to add features and services to the solution that are not determined by “us as Standard Bank, but by the users of the platform themselves.”

“It is not about us building services, but users adding services that can better connect their lives. This underlying technology means that users can be the custodians of their preferences and tailor the platform for their unique needs. Business owners or individuals can create savings pockets for specific goals like education by opening transactional or business accounts,” he adds.

 A key feature of Unayo is the self-onboarding process. Whether users want to access Unayo via USSD or the smart app, they will not be required to visit a physical banking branch. There are no geographical restrictions and no need to present documentation or undergo a paper-bound KYC process. On registration, users can also opt for additional identification features such as facial recognition. Fisher says that this has immense potential impact - particularly in an informal market.

“Unayo essentially solves for the higher and lower ends of the market value chain, by stimulating economic activity between the two ends, which will develop the economy.’’

“Anyone with a cell phone number, agnostic of the mobile network operator, and handset technology, can receive value through the use of the Unayo solution and become part of the financial world,” comments Wally Fisher, Head of Unayo of Standard Bank. “It is primarily supported by USSD, which extends its reach to users without smartphone access and where they are most comfortable and active: on their mobile devices. Customers with smart mobile devices can also use the solution by downloading the app from the Google Play, the iOS App Store or Hauwei Gallery and access more enhanced features of the banking system.”

The value that users can derive from Unayo is best illustrated by way of a practical example; “When users get the Unayo capability via USSD, they are presented with various options. They can receive money, let’s say $10 via another Unayo user. Should they wish to cash that $10 out, they can seek out someone in their community who has signed up as an Unayo merchant to do so. The Unayo merchant can then provide that person with their $10, earning a commission fee in the process. Alternatively, the person with the $10 could exchange it for basic goods through another person that has signed up as an Unayo merchant,” Fisher explains.

Through Unayo, Standard Bank will service four key payment ecosystems: salaried individuals, cross border payments, traders and donor organisations. It aims to create an ecosystem of users and merchants with the goal of stimulating entrepreneurial activity and driving financial inclusion on the continent.

Standard Bank has introduced a digital platform that combines the simplicity of mobile money with the sophistication of a bank account, aiming to connect Africa’s informal market to financial services in an easily accessible manner.  Unayo transactions are free or attract nominal charges.

Unayo, which means ‘You have it’ in some African languages, is a multi-faceted, interactive platform designed by Standard Bank to reach into, and across, all sectors and communities. As it is not dependent on smart phone technology it holds the unrivalled potential to unlock much-needed economic transactional activity and prosperity on the continent.

African communities are often underserved when it comes to catering to their financial needs. Much of that is linked to barriers associated with income, access to branch services and technology as well as the cost of transactions. Unayo overcomes these hurdles by enabling fully KYC compliant onboarding and activating mechanisms for external funding (via donors and producers) to be injected into the ecosystem, allowing people from anywhere and all walks of life to participate.  

Already operational in Botswana, Malawi, Lesotho and eSwatini with broader country deployments to follow, Standard Bank estimates that it will facilitate up to 90% of Africa’s payments through Unayo. In the first quarter of 2021. Unayo has already processed over 60 000 customer-initiated transactions.