Standard Bank is streamlining its portfolio and enhancing the client experience through digital innovation and global accessibility.
Standard Bank provides banking advisers with real-time, accurate client information, enabling them to proactively deliver insights and recognise challenges and opportunities as they arise.
With a diverse regional presence spanning 88 offices across 17 countries, Standard Bank partners with Africa’s affluent and high-net-worth (HNW) individuals, helping them build, grow, manage and preserve generational wealth of their families.
Anchored on its 160 year legacy of driving Africa’s growth, the bank’s value proposition is designed to identify unique client requirements and offer tailored and integrated solutions that are delivered through a superior client experience. As a purpose-led, client-driven private bank, Standard Bank’s business model is structured to strategically address clients’ onshore and offshore banking requirements.
A team of experts focuses on developing intelligent relationships with clients by creating insight-led experiences that are tailored according to each individual and their family’s ambitions and financial motivations.
DIGITAL STRATEGY
Standard Bank’s international footprint, combined with innovative digital technology that facilitates engagement across multiple platforms, enables clients to leverage the expertise, tools and diversification required to create a globally effective wealth strategy.
A key strategy of their international citizenry is their next generation academic programme that supports African children to study in renowned global universities. Additionally, emigrants and non-residents have also been identified as key growth drivers, with outcomes designed to assist them even when outside the country.
Through the innovation and adoption of a suite of data-led, internal digital tools, Standard Bank has created a multi-channel engagement strategy that provides banking advisers with real-time, accurate client information, enabling them to proactively deliver insights and recognise challenges and opportunities as they arise.
WEALTH MANAGEMENT
Designed to meet the growing need for digital transformation across financial processes, Standard Bank’s wealth management onboarding tool (WMO) enables wealth managers and wealth administrators to efficiently create investment proposals and instructions incorporating client information obtained from various sources. This helps in streamlining the end-to-end processes and in reducing the turnaround time.
The bank’s wealth management app ‘My360’ allows advisers to view client information in real-time with access to their net value assets (NAV), asset allocation and liabilities. The application includes a function that enables a holistic view of clients’ assets including those held in trust and investment holding companies.
Additionally, the bank’s international investment and payments application ‘Shyft’ has been incorporated into the bank’s operations, enhancing client experience through global accessibility. The app has been developed for clients looking for a secure and self-driven offshore investment experience.
Standard Bank’s focus on client-centric solutions has helped it forge lifelong partnerships with clients and enabled positive results across its financial outcomes. Additionally, the bank has witnessed a 7 per cent growth in clients and an 8 per cent increase in assets under management (AUM).
Standard Bank South Africa has been recognised as the winner of the Outstanding Global Private Bank in Africa award at the PBI Global Wealth Awards 2023. It has also been Highly Commended for Best Family Office and Outstanding Wealth Management Technology Initiative-Back Office.