By BR Correspondent
JOHANNESBURG - Standard Bank Group has been awarded the 2020 Innovation in Digital Banking Award (Africa), by The Banker publication.
The Banker’s Innovation in Digital Banking Awards recognises excellence and innovation in financial technology. Standard Bank was recognised by the publication for its Quantum Leap programme, a future-looking Transaction Banking business model that collaborates with clients on their journey for growth.
“At Standard Bank we believe in partnering our clients in co-creating digital solutions that will help them manage and grow their business. We launched the Quantum Leap programme in 2019 to fundamentally re-imagine transactional banking solutions that are client-led and digitally enabled,” said Hasan Khan, Global Head of Transactional Products and Services for Standard Bank Group.
He added, “We are pleased that our role in bringing about rapid and tangible innovation in digital banking has received this accolade from The Banker, as this further serves to confirm our focus on future-proofing our client offering.”
The mandate of Quantum Leap is to ‘start from scratch’, ‘tear up the script’ and design from first principles the Transaction Bank of the future. These solutions still need to bring Standard Bank’s long-standing product expertise, deep Africa experience and obsession with creating strong and trusting relationships with our clients in a rapid and highly digitally manner. In 2019, Standard Bank successfully reimagined, assembled and deployed both the Quantum Leap platform and its first digital Trade solutions in Uganda, within a mere 14 weeks. We have reduced turnaround times on these products from hours to minutes, have increased transparency and removed all paper from the process.
As the largest lender by assets in Africa, Standard Bank remains committed to partnering with clients.
He said, “Clients are not only ‘wowed’ by this new offering, the solution itself and the speed with which we went from design to the market, but they have also thoroughly enjoyed the collaboration process to date with Quantum Leap".
“We aim to continue to build on the momentum. We have already made ‘quantum’ strides in our journey of building the Transactional Bank of the future for, in and across Africa,” concluded Khan.
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