Stanbic continues with digital banking agenda

HARARE - 30 NOVEMBER 2020 Stanbic Bank continues to implement its digitization strategy as it seeks to remain in sync with the futuristic need for technological advancement as well as the dictates of the new normal brought about by COVID-19.

 In line with this digitization journey, Stanbic Bank is set to discontinue its physical operations at Hwange and Westgate branches with effect from December 31, 2020. The bank advised of this development in a statement which also assured their customers that they would continue accessing all services on the bank's various digital banking platforms.

Stanbic Bank's digitization exercise kicked off in earnest last year with the closure of Chitungwiza and Beitbridge branches and the two pending closures will leave the Standard bank Group subsidiary with 15 branches countrywide down from 19 last year.

Stanbic Bank Head of Personal and Business Banking, Patson Mahatchi, said the branch closures will not affecting the banking needs of existing and potential clients as they will be adequately catered for at other branches and the various digital platforms available.

Mahatchi said accounts currently maintained at Hwange and Westgate branches will be automatically transferred to Victoria Falls and Belgravia branches respectively.

"Our customers can still access self-service digital channels and in-branch services at any of our remaining 15 branches country-wide. We always have our clients' needs at heart and this digitization exercise will benefit them significantly," said Mahatchi.

 He said the digitization drive was already work in progress but was accelerated by the "new normal" brought in by the Covid-19, whereby clients needed to stay safe, often times even working from home, but still enjoy innovative banking solutions.

"Our digitization drive is not only ideal and relevant during the prevailing operating environment in which customers need to stay safe from COVID-19 but is a hallmark of the dictates of new technological advancement. As a bank we have to keep our finger on the pulse of innovation and technological advancement," said Mahatchi.

He reiterated that Stanbic Bank's digitization exercise is in line with world-wide technological advancement trends within the financial and non-financial institutions aimed at enhancing ease of banking to its customers.

As part of its digitization strategy Stanbic Bank launched contactless debit cards and POS machines becoming the first financial services institution to introduce this highly secure innovative technology onto the Zimbabwean market.

Apart from the "contactless" debit cards and point of sale machines, Stanbic bank, stepped up functionality of FCAs on its digital banking platforms in addition to launching a technologically advanced application which allows account holders to pay bills and make in-store purchases on their phone using QR code scanning technology called SlydePay.

All these products are part of a well thought out digitization strategy which offers convenience to customers and ensures that clients are beneficiaries of quality banking technologies.