Standard Bank wins big at the World’s Best Digital Banking Awards 2021

Wednesday, September 01, 2021

Company: Standard Bank of South Africa

Global Finance has announced the Round One winners for the 2021 World’s Best Digital Banks Awards in Africa, in which Standard Bank Group has been selected for multiple awards across seven categories: 

  • Best Consumer Digital Bank in South Africa.
  • Best Consumer Digital Bank in Africa for Online Product Offerings.
  • Best Consumer Digital Bank in Africa for Information Security and Fraud Management.
  • Best Corporate/Institutional Digital Bank in Africa for Trade Finance Services.
  • Best Corporate/Institutional Digital Bank in Africa for Online Treasury Services.
  • Best Corporate/Institutional Digital Bank in Africa for Social Media Marketing and Services.
  • Best Corporate/Institutional Digital Bank in Africa for SME Banking.

This is the 22nd year Global Finance has named the World’s Best Digital Banks. Winning banks were selected based on criteria including, strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality.

Standard Bank has a proud 160-year history of serving clients and supporting economic development across Africa as the largest financial services group on the continent. Over the past few years, Standard Bank has made significant structural changes to better serve clients.

These shifts have allowed the Group to realise a more seamless delivery of financial services to its diverse customer base, reduce time and costs, and allow the organisation to innovate more quickly and efficiently.

“We will continue leveraging our scale advantages and strengths to defend and grow our current position in the market, while accelerating toward our 2025 Ambition of becoming a client-centric, digitally-enabled platform business.” said Adrian Vermooten, Chief Innovation Officer at Standard Bank Group.

“We are creating new solutions and new partnerships to serve our clients better and grow our revenues across Africa, our home. By building out from our solid foundation in traditional financial services, Standard Bank will meet its clients where they are: on the digital platforms where they are shopping, socialising and doing business,” said Vermooten.

The Covid-19 pandemic has only served to accelerate the rate of this change. Despite the obvious challenges, this crisis has presented numerous opportunities to problem solve, be creative and be innovative.

“With the global pandemic forcing people to conduct their personal and professional banking activities from their phones, tablets and computers, digital banking took on an importance and prevalence far beyond anything that had come before,” said Joseph Giarraputo, publisher and editorial director of Global Finance. “Banks were forced to respond to this drastically altered landscape, and those that met the challenge most successfully are being honoured as Global Finance’s World’s Best Digital Banks 2021.”

Transforming Standard Bank Group from a traditional financial institution to one that is defined by modern innovation will enable it to deliver on the promises made to help Africa grow, develop and fulfil its potential.

“These awards are testament to the excellent leadership within the organisation and our incredibly committed employees who have been walking this digitisation journey with us. I extend my congratulations to all on this excellent achievement,” said Vermooten.

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