Stanbic’s App raises the stakes in Internet banking

September 29, 2016 in Business, Companies, Technology & Telecoms by Editor

KAMPALA, SEPTEMBER 29 – Stanbic’s Ugandan unit has waded deeper into online banking with the launch yesterday of the StanbicBank App which offers greater flexibility and introduces exciting new functionalities.

Through the Stanbic Bank App customers will have a single-view platform for all interaction with the bank’s services. Customers can access their business and personal accounts as well as insurance, wealth management and stockbroking activities from a single point. New functionality includes comprehensive beneficiary management, payments to phone contacts, cash withdrawal services without a card, future-dated and recurring payments among others.

“The Stanbic Bank’s app for smartphones and tablets will transform mobile banking and the way that customers experience banking. It is all about allowing the customer to dictate functionality and customise according to their needs, rather than the app dictating to the customer what should be prioritized,” said Kevin Wingfield, Stanbic Uganda’s Head of personal and Business Banking during the launch in Kampala.

“We looked at the ways that perennially connected smart mobile devices were changing customer behavior. The app was therefore developed to meet increasing demands for mobile banking by our customers”. “The nature of how customers are engaging with banks is changing significantly as mobile devices have become ubiquitous. These tools are an extension of people’s lifestyles, and as banking is a part of everyday life, it is imperative for Stanbic Bank to occupy a pivotal place in that world,” he added

In addition to enhanced functionalities, new security features have also been added similar to those found in internet banking have been added says George Mukasa, Stanbic Uganda’s head of Risk. For transactions that require greater security – like creating a beneficiary – an additional One Time Password will be sent to the customer’s phone.

At the same function Stanbic also launched it’s the Stanbic Priority pass a new value added service that allows Stanbic private account holders to access VIP airport lounges across the globe.

“In addition to being able to access the 850 lounges in 120 countries across the world regardless of their class of travel, our priority pass holders will be able to use the business facilities, enjoy complimentary refreshments   and use conferencing facilities without a need to make cash payments as the fees are billed to their accounts later,” Stanbic’s Josephine Kagada revealed.