Launch of Banking app
By Our Reporter
Stanbic Bank has launched its ground-breaking new banking app to the Ugandan market. It offers greater flexibility for customers and introduces exciting new functionalities. The app gives customers a single-view platform for all interaction with the services offered by the bank. Customers can access their business and personal accounts as well as insurance, wealth management and stockbroking activities in one go. Functionality includes comprehensive beneficiary management, payments to phone contacts, cash withdrawal services without a card, future-dated and recurring payments among others.
“This app will transform mobile banking and customer experience. It is all about allowing the customer to dictate functionality and customize according to their needs, rather than the app dictating to the customer what should be prioritized,” said Kevin Wingfield, the bank’s Head of personal and Business Banking.
He explained the bank has been observing the ways in which perennially connected smart mobile devices were changing customer behavior. The app was therefore developed to meet increasing demands for mobile banking by 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 us to occupy a pivotal place in that world,” he added.
Josephine Kabaga, Stanbic Bank’s Head of Priority Banking said, “In line with our overall strategy we started with the customer in mind, taking an outside-in approach. We acknowledged that every customer’s needs are different and we took care in designing a look and feel that customers could easily identify and interact with. The key is about creating an intuitive, user-friendly and interactive experience.”
George Mukasa, the bank’s Head of Risk said, “In addition to enhanced functionalities, new security features have also been added. The privacy and security of our customers is of the utmost importance to us and we have carried out extensive testing and incorporated advanced security features similar to those found in internet banking.”
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 a Priority pass which is a new value added service that allows private bank account holders to access VIP airport lounges across the globe.
“The pass will allow customers to access the 850 lounges in 120 countries across the world regardless of their class of travel. It will also enable them to use 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,” said Kabaga.