Standard Bank recently broadened its reach by launching a new global banking app specifically for Ugandan citizens. Experts say that the speed in which the app has been approved for use in Uganda shows Standard Bank’s interest in enterprise technology within the country.
“This is one of the first mobile banking interfaces in Africa that allows our bank customers access to their accounts across multiple countries within the Standard Bank Group,” says Adrian Vermooten, Head of Customer Channels Africa for Standard Bank.
Apart from Uganda, other people from countries such as Nambia, Botswana, and Ghana will also be able to access the app. By the end of the year, Standard Bank hopes to roll out the app in Kenya, Zambia, Zimbabwe, and Nigeria.
Standard Bank’s mobile banking app takes advantage of several smartphone features such as accessing security and social networks for sharing and forwarding information.
According to the financial service company, being able to open an account online is a feature that app users will be able to look forward to in the future.
The integration of services to mobile app is a trend that is happening not only in banks but other industries heavily influenced by digital.
That’s because a lot of consumers, especially millennials, now prefer to use mobile devices to access content, according to research by Nielson.
Proof of this shift in the market can be seen through established companies such as international mobile development firm Gaming Realms who have changed their focus to mobile, even though they had significant success with the reintroduction of Slingo to the world in the mid 90s. The company asserts that consumers have changed their digital consumption habits, and, as a result, only 20% of their customers are still using traditional computing devices.
Standard Bank saw a similar change in consumption habits of their customers, which is why it is aggressively pushing its products and services to mobile.
“The introduction of this app is a further step in Standard Bank’s drive to build a universal bank for its customers across the continent,” added Vermooten.