DURBAN - Standard Bank has launched a platform that is aimed at the youth market that combines banking, lifestyle and social functions.
The Sorted digital lifestyle platform is the first of its kind to be launched in South Africa, it is linked to a prepaid debit card and is designed to bring lifestyle requirements under one ‘roof’ enabling young Standard Bank customers to keep their fingers on the pulse of their busy lives through a range of specifically-designed tools.
"The Sorted platform is unique in several aspects. It is a platform which supports the young, constantly moving and innovative lifestyles of the new generation of customers. Sorted, enables the user to access multiple lifestyle services including social media products under a single digital platform," Lincoln Mali, head of Card and Emerging Payments at Standard Bank.
The banking aspects of the digital platform run in the background and are ready to support the user whenever financial capability is required. What makes it stand out as a new generation banking product is that it is customisable. Partners, at this stage mainly tertiary institutions and schools, are able to brand the linked Sorted debit card, which enables the financial services and issues it to students who can exclusively access and use ‘institution-specific’ offerings that are part of the Sorted platform.
According to Mali, they had to change the perception of banking held by the younger market and set out to achieve this by showing that banking can be innovative. Our approach was to work towards concentrating on delivering a ‘Customer Power of One’ experience by designing a platform that was customisable to individual needs.