Standard Bank has launched five new features on its mobile banking app allowing customers to perform even more banking functions online.
Photo: File
Standard Bank has launched five new features on its mobile banking app allowing customers to perform even more banking functions online. Photo: File

Check out Standard Bank's four new features to make banking easier

By Dhivana Rajgopaul Time of article published May 19, 2020

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DURBAN - Standard Bank has launched four new features on its mobile banking app allowing customers to perform even more banking functions online. 

The improvements on the app range across personal and business banking solutions and are immediately available.

Andrew van der Hoven, head of digital banking at Standard Bank said, "We are always looking for ways to improve our customer experiences and in today’s world that means developing digital solutions which empower them to bank wherever and whenever they want, with their mobile devices. Our latest upgrades seek to do this in a way that allows for seamless remote banking". 

Here's a look at the four new features: 

Stop payment

Customers can now load a stop payment instruction on a debit order via the banking app. You can stop a debit order for six months from the date on which we process your request. Customers will be charged a R30 fee for this service.

Home Services Tax Certificates

Customers that currently have their home loan account linked to their banking app, will have the ability to obtain their Tax Certificate directly from the app. The customer will have the option to retrieve the current tax year and up to four years of historical tax certificates.

Card Straight-through

Customers are now able to do an end-to-end application for a credit card and be able to do the following:

1. Adjust the credit card limit

2. Select Insurance

3. Select their preferred delivery method and set-up a debit order account

4. Sign and accept the cost of credit as well as T and Cs

Unsecured Business Lending – Overdraft

Business customers can now apply for an overdraft via their mobile phones and receive an immediate decision with an instant pay-out when the application is approved.

This is the second significant set up upgrades which Standard Bank has instituted on its app this year. 

"Part of our key objectives at Standard Bank is a digitisation journey as we look to match evolving consumer demands and industry trends. We continue to invest heavily in providing the real-time solutions that customers want, giving them the confidence to bank safely in the digital world," concluded van der Hoven.

Recently, Standard Bank announced that it was ready to receive applications for loans under the Covid-19 Loan Scheme for small and medium enterprises announced by President Cyril Ramaphosa in April.

The Treasury has provided a guarantee of R100 billion to the scheme with the option to increase it to R200 billion if it is necessary and the Scheme is successful.

"This guaranteed loan scheme will bolster efforts made in both the private sector and government to aid small business in South Africa. We have been in constant consultation with Government about the implementation of the Scheme and are now ready to receive applications," said Funeka Montjane, Country Executive, Personal and Business Banking South Africa.

BUSINESS REPORT ONLINE

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