has transformed banking convenience and cost savings for its customers through strategic partnerships and customer-centric policies. From the past three years until June 30, 2024, the bank’s initiatives have delivered savings exceeding R670 million to clients using the Saswitch ATM network.In a significant move in 2021, Standard Bank abolished the Saswitch network fee, allowing customers to use ATMs from other banks without penalty fees.
The bank’s digital platforms have also seen substantial growth. The number of digitally active clients increased by 12% in 2022 and continued to rise by 8% in 2023. Particularly noteworthy, the Banking App recorded a 35% increase in transaction volumes, contributing to a 33% rise in overall digital transaction volumes during 2023.Head of Personal and Private Banking at Standard Bank South Africa, Kabelo Makeke, emphasises the bank’s dedication to meeting customers where they are.
“While we champion digital banking, we recognise the need for cash transactions and have thus expanded our banking footprint to integrate seamlessly into our customers’ daily routines. A large proportion of our customers also want to transact with cash or make payments and transfers. We brought banking to where our customers are, either while shopping, buying fuel, or walking to their next destination.