The new offering gives customers the ability to choose from a host of banking products and services, in the form of widgets, called add-ons, which are now available for download within the app.
The Add-on Store works in a similar way to the Apple App Store or Google Play Store, allowing a user to browse and decide if they want to add an add-on onto their banking app. It also provides customers with detailed descriptions of each add-on, plus the ability to rate and review, re-order and remove any add-on at any time.
“We are bringing a greater awareness to customers about our Standard Bank and “Powered By” products, within one trusted area, our banking app. Now customers will be able to tailor-make their mobile banking experience thanks to the array of add-ons which are being made available,” says Andrew van der Hoven, Head Digital, eCommerce and Voice at Standard Bank South Africa.
The add-ons give customers access to various products and services that are not normally available on the app and they can arrange their add-ons in order of frequency of use or preference and still access the product even if they choose to remove an add-on later.
Some of the widgets which are on offer include the Virtual Card, UCount as well as the Recent Transactions add-on, which displays the three most recent transactions on a customer’s account in a quick look view, and the Future Payments add-on which displays potential payments that may be coming off a customer’s accounts.
“The Future Payments widget uses our knowledge of our customers individual behaviour to really help ensure that they don’t miss payments and manage their cashflow – it’s a small but meaningful service,” says van der Hoven.
Including one of the add-ons to your banking experience is simple. Customers merely need to go to the home screen and select the Add-on Store icon on the app.
The Add-on Store will elevate their convenient banking experience which already includes the ability to make payments and transfers, check their balances, get stamped bank statements, change their payment, and card limits, stop and order cards, and open new savings accounts. They can also manage their personal, car and home loans, get a single view of all their accounts, and even create a Virtual Card for online or in-app purchases.
“We will constantly increase the number of widgets and services to the Add-on Store based on our customers’ needs and what we believe will save them time, money and improve their financial wellbeing. This is why we ask for your feedback on the current set of add-ons – let us know what is working and what isn’t. We believe this will allow us to co-create with our customers and reimagine their digital service experience,” van der Hoven says.
This first iteration of the Add-On Store is the beginning of Standard Bank realising the acceleration of its existing strategy to become future-ready and to ensure that it remains competitive, relevant, and sustainable over the long term. In the future, third party developers and fintechs could have their own add-ons in the store.
“Using digital innovation to improve the customer experience is a key tenet of our approach to financial services. The Add-on Store allows us to continue meeting our promise of providing a more personalised service to our customers, an idea which will continue to shape how we do business today and, in the future. Our group CEO Sim Tshabalala is on record as saying; We don’t only want to be the shop; we want to be the mall. The add-ons now available for download are the first building blocks of us becoming that mall,” van der Hoven says.
The Standard Bank app provides customers with easy and secure banking on their smartphone or tablet. The app is safe and secure as all data transfers are encrypted, and customers can safely sign in with their biometrics including fingerprint or password. There are no monthly subscription or sign-up fees for the app and the Add-on Store is free of charge from standard network rates and fees. DM