Standard Bank eyes digital space in 2015

By Gregory Gondwe, Blantyre, Malawi 

Standard Bank Malawi will intensify provision of digital and internet banking services as a part of its 2015 growth strategy, Chief Executive Officer Andrew Mashanda has said.

Speaking at an interaction with journalists in Blantyre, Mashanda said the bank’s digital ambitions aim to add value to its current business offerings while enriching the customer’s experience.

“2015 will see us occupying the digital banking space more emphatically and with the necessary pace. We will introduce a number of new services and products that are supported by our improved internet and digital banking platforms,” he said.

Mashanda said the current strategy is backed by a platform of continuous improvement and development of Standard Bank’s internal operating capabilities and its leverage to capital markets in key financial centres of the world.

He said during the 2013/14 financial year, Standard Bank invested towards refurbishing its branch network as well as expanding its market presence.

“Our focus is to now create a platform where customers reap the benefit of the value we have been creating over the years,” he said.

Mashanda said the bank will also build on its track record and momentum of winning banking excellence awards. In 2014, Standard Bank won the EMEA Finance ‘Deal of Year’ for facilitating the restructuring of a R79 million loan that Escom owed the Development Bank of South Africa (DBSA). The DBSA loan was secured by a Zero Coupon Note issued by Investec in favour of ESCOM with a maturity value equal to the loan principal.

On sponsorships, Mashanda said Standard Bank will continue to sponsor the Knock-Out Cup as well as Joy of Jazz which he said will return in 2015 after a year’s break to re-focus. On corporate social responsibility, the CEO said the bank will continue to provide assistance in the pillars of health, education and sport.

During the media interaction, Mashanda introduced his new head of Marketing and Communications Thoko Unyolo, who joins the bank from Airtel Kenya. Prior to Airtel, Unyolo worked at Carlsberg.


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