Standard Bank has rolled out major changes to its smartphone banking app in an effort to keep customers out of its branches.
“The updated version of the app will allow customers to perform even more banking functions online as opposed to having to go into a branch to do so,” the bank said in a statement.
The changes apply to both retail and business banking clients, said Andrew van der Hoven, head of digital banking at Standard Bank.
There are several new functions in the app:
- Stop payment: Customers can now load a stop payment instruction on a debit order via the banking app. They can stop a debit order for six months from the date on which bank processes a request. Customers will be charged a R30 fee for this service.
- Home services tax certificates: Customers that currently have their home loan account linked to their banking app will have the ability to obtain their tax certificate directly from the app. The customer will have the option to retrieve the current tax year and up to four years of historical tax certificates.
- Card straight-through: Customers are now able to do an end-to-end application for a credit card and can adjust the credit card limit; select insurance; select their preferred delivery method and set-up a debit order account; and sign and accept the cost of credit as well as terms and conditions.
- Unsecured business lending — overdraft: Business customers can now apply for an overdraft via their mobile phones and receive an immediate decision with an instant pay-out when the application is approved. — (c) 2020 NewsCentral Media