Affordable and accessible digital services
We are committed to improving access to and the affordability of financial services, including through digital products and services that are accessible even without a bank account. We partner with fintech companies to provide safe and secure digital solutions. Our digital wallets and apps enable our customers to transact efficiently, safely and conveniently while Business Online provides convenient digital banking for small businesses.
The group has six guiding principles that guide how we deliver digital products and services to our clients
- Our services are consistently available, anywhere, anytime
- We use data to guide our decisions, create valuable insights and deliver personalised experiences
- We build enterprise assets that can be leveraged across the group
- We make it easy for our customers to interact with us through intuitive, easy to use, reliable interfaces
- We are proactive in understanding client needs and continually learning and improving
- We create an environment that encourages curiosity, digital thinking and continuous improvement
In 2019, we reported that 99% of Standard Bank client transactions in South Africa, and 92% in Africa Regions, were done using digital channels.
In 2020, digital transactions in South Africa increased by 13%, and in Africa Regions by 11%, compared to 2019. Physical transactions decreased by 26%. We now have 2.6 million digital active customers. By October, PBB Africa Regions had exceeded R2 billion in digital disbursements since the beginning of the year.
Other digital client solutions implemented or expanded in 2020
We rolled out our virtual card in several Africa Regions countries, making it easier and safer for customers to make purchases online.
We have partnered with MoneyGram, a leading international money transfer company, since 2005 to enable customers to send and receive cash worldwide
In Malawi we piloted Unayo (which means “you have it” in several Nguni languages). All that’s needed to use the Unayo global wallet account is a mobile phone and number, allowing subscribers to connect, trade and transact.
In Namibia, clients can use their phones to pay anyone, at any time with PayPulse. Customers can link up to three debit or credit cards from any bank to the service and can access the full transactional capability of each card using PayPulse.