Western Cape Business 2017 edition

INTERVIEW
reason, many of our customers are looking outside
of South Africa’s border. Cross-border financing is
more complex and so their banking requirements
have changed in some cases. Volatility and currency
fluctuations have meant that forex hedging and
forward-buying have become more important.
These days, customers also have a greater choice
when it comes to international products and are not
compelled to use local banks for each transaction.
Increasingly, executives are complaining about
the difficultly they have in recruiting appropriately
skilled people.
Has Standard Bank introduced any new
products or services recently?
In the last year we introduced a reward programme
for our small enterprise (SE) clients – UCount:
Businesses with an annual turnover of up to
R20-million stand to benefit from these rewards.
Payment solutions: BluMobi is another innovation
we’ve introduced; it functions as a fully mobile
point-of-sale solution. SnapScan and Tap to Pay are
other payment solutions that are making it far more
convenient for business clients to collect payment
and for individuals to make payments. SE clients also
benefit from Banker Chat 24/7.
Online banking: We are in the process of enhancing
our online banking services, particularly for businesses.
Customers are already able to view balances,
check statements and make payments on their
business accounts.
We have spent time aligning the look and feel
of our applications across various digital platforms,
which means that irrespective of whether customers
choose to use a mobile phone, a tablet or a
computer, they will have the same online experience.
Tradesmen and medical professionals: Two new
areas of focus in the SE segment include specific
value propositions for tradesmen and the medical
profession. The Tradesmen offer packages a number
of banking services at a very affordable rate. The
Medical proposition provides solutions that will
assist medical professionals in both their personal
capacity and business capacity.
Instant Money: Another product that has been extended
to our business customers is Instant Money,
“THE WESTERN CAPE
COMMERCIAL PROPERTY
FINANCE MARKET HAS
CONTINUED TO SHOW STRONG
GROWTH, OUT- PERFORMING
MANY OF ITS PEERS IN THE
COUNTRY.”
a payment solution that allows you to send money
to anyone in South Africa by using their cellphone
number. This solution will allow businesses to make
payments in a cost-effective and secure manner.
Always On: As far as our personal customers are concerned,
they benefit from Always On – 24/7 banking
anywhere, anytime. Customers can now conduct
their banking through email, WeChat, Facebook, a
call to their personal banker or by simply using our
banking app and new internet banking functionality.
Shari’ah offering: Many of our Western Cape customers
will be pleased to hear about an improved
Shari’ah offering relating to fixed deposits for personal
and business purposes as well as forward exchange
contracts.
Kidz Banking: We have also aunched a Kidz Banking
app that teaches children how to manage money
from a young age.
Having mentioned all of these innovations and
new products, I still believe, however, that the real
differentiator will be in the way that we execute
our intentions. Great thinking and effective marketing
messaging are important, but we intend to ensure
that Standard Bank Western Cape implements
excellent service and that we do what matters most
to customers.
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