Stanbic Bank zero-rates digital banking platform for clients

Stanbic Bank Zimbabwe has taken the cost of accessing some of its digital banking platforms charges from the customer to the bank. As a way of enabling their customers to enjoy the convenience of digital banking, the financial institution has taken on the internet data cost as they pursue a customer centricity approach to implementing their digital bank strategy.

In recognition of the escalating data bundles costs among others, the Standard Bank Group subsidiary has zero-rated the platforms for all their customers who are Econet subscribers.

Stanbic Bank Head of Personal and Business Banking, Patson Mahatchi said the move was meant to cushion the customers in line with the institution's thrust to put the interest of its customers first.

"Customer centricity is of utmost importance to our business and in keeping with this key pillar, we have seen it fit to ensure that our customers are able to access essential services on our digital banking platforms at no data costs. Therefore, we now subsidize the internet service", said Mahatchi.

Mahatchi added that the bank is still working with other mobile network service providers to make the same service available to Netone and Telecel subscribers.

"This move also demonstrates our dedication to becoming a digital bank and how we are focused on ensuring that our customers get the services as conveniently as possible, and we continue to encourage our customers to embrace digital banking platforms" said Mahatchi.

The platforms that have been zero-rated are - Stanbic Bank Zimbabwe website, Stanbic App, Online Banking and the SlydePay app.

SlydePay is a technologically advanced application which allows account holders to pay bills and make in-store purchases on their phone using QR code scanning technology.

Launched in July this year, the App is a platform which uses the wallet technology to connect one's bank account to the payment platform, allowing customers to click on an already listed biller and instantly process payments in real time.

This gesture by Stanbic Bank comes as the institution is celebrating multiple awards of being "The Best Bank in Zimbabwe" by The Banker and by Europe, Middle East and Africa Finance. Both are reputable global institutions who recognise top banks in Africa and Worldwide respectively. They commended Stanbic Bank's innovative approach to its operations and products especially under the difficult operating environment brought about by COVID 19.