Standard Bank launches new app for offshore customers
Published: November 23, 2015
Standard Bank Group has enhanced its banking app to allow Offshore Group customers access to their offshore accounts while they are on the move. The app allows account holders to view balances and transaction history on a smartphone, and also make cross-currency payments between their Standard Bank accounts. New features released in the future will include worldwide payments on any device or browser.
According to research by Global Web Index, 80% of internet users own a smartphone and this figure is constantly rising. In 2014 internet access on a mobile device overtook desktop computers for the first time - a huge shift in this digital age. Research by the British Bankers Association reveals that UK customers alone had downloaded banking apps on 22.9 million occasions by the end of March 2015 - a rise of 8.2 million in just one year.
Standard Bank’s Greg Barclay said: “We are launching the app to our Offshore Group customers in response to a growing preference to use mobile technology for their banking needs. We want to strengthen our relationship with our customers by harnessing technology to provide a seamless experience. It means clients will be able to keep up with their accounts and make payments anytime, anywhere in the world and is part of our continuing efforts to ensure we allow our customers to manage their money in a way that suits their changing needs.
“Today, more than 70% of our customers bank online so by giving our clients a mobile banking app we are making it easier to access their accounts on the move, with a particular focus on security and fraud prevention.”
The development of the offshore functionality for the app was managed by a Jersey-based team led by Senior Project Manager Tim Dargie, who explained further: “The app is being launched in two phases. The first phase is complete and allows view-only and inter-account transfers, so clients can see their account balances and transactions, transfer funds between their Standard Bank accounts and use the Explore feature. Phase two will see the app become fully transactional, allowing clients to pay third parties, plus we’re planning some exciting new features for 2016. To make it easier for customers to log on and to prevent fraud, the app also makes use of Touch ID, the fingerprint recognition feature available on the latest Apple devices.”
The app is currently available on both the Apple Store and the Google Play Store for iOS and Android phones.