In Africa, companies in sectors and markets have a sharp need for payments without friction. Continuous challenges in the displacement of goods, the management of import cycles and the distribution of products with certainty have made effective payments, working funds and commercial financing solutions a priority.
Companies need speed, flexibility, visibility and control of their payment flows. In response, the ONEHUB sales platform from Standard Bank operates artificial intelligence (AI), Automatic learning, Cloud-based IT and Application Programming Interfaces (API) to integrate payment features for customer applications, systems and architecture.
“Take advantage of our deep information and our knowledge of our customers and the sectors and industries in which they operate, we spend a lot of time innovating for tailor -made payments, the working fund and the commercial financing solutions,” said Crosby.
Give customers what they need
The Business OneHub platform provides more than the standard bank can offer alone. Not only does it allow access to all the solutions of the bank and to the solutions of the partners of the bank, but it also offers important features which help customers with their working and payment fund cycles.
“We are associated with fintechs and other organizations to provide holistic solutions and the best in class,” said Crosby. “We find that it works very well to stay ahead and be competitive.
This approach reflects its point of view according to which in such a competitive landscape, the bank’s strategy should be shaped by customer engagement and customer knowledge, which are key elements of innovation.
Standard Bank is well positioned for this, with an imprint on many continent markets. “We understand the risk very well. We include logistics and various mechanisms of underlying working capital cycles. And we play an important role in funding, ”said Crosby.
Fast and smooth
Digital innovation has become the key to completing this physical presence. For example, he helped Standard Bank to provide tailor -made payment solutions for the Ghana health care industry to Kenya port authorities and through East Africa.
More specifically, the architecture and the technological systems that the bank uses, play an essential role in the creation of friction -free payment solutions which are fast, effective, reliable and secure – essential for the transaction bank.
“We take advantage of the cloud because hyperscalers give us a significant computing power as well as other cautious solutions. When they are appropriately deployed, it is a strategy that reduces operating costs, requiring only the purchase of cloud capacity. ”
Crosby MkhwanaziHead of the Transactions Bank at Standard Bank
The modular services have also proven to be effective in maintaining the dynamics of technological architecture, so that the bank can innovate quickly and provide the right solutions.
In addition, MKHWANAZI points to connectivity via APIs and automation – both in the forehead and at the rear – like other basic components for friction payments. This applies either by pre-popular information for effective web payments or by integrating directly into the customer’s system. “This allows customers to reduce costs and obtain almost real time payments, as far as possible within the limits of applicable regulations.”
New partners, new solutions
Understanding what customers also need the future digital transformation program of the standard bank in the transactions bank, which stimulates its innovation cycle.
Consequently, the solutions for telecommunications companies are on the horizon, for example. “We are working with telecommunications operators on access to bank infrastructure to provide payments to allow better access to areas where perhaps, as banks, we have not previously reached,” said Crosby.
Shipments of funds quickly became the cornerstone of foreign currency entries for many African nations. For Standard Bank, this represents a central opportunity in: Reimagining the Witharance Experience, Standard Bank aims to empower communities and stimulate broad economic inclusion through the continent. “Not only is it about improving accessibility and expanding distribution, but also ensuring the availability of foreign exchange and reducing the overall cost of sending money.” Crosby explained.
Such an ambition is strengthening the wider objective of the standard bank: being a trusted partner in a continent where it has been changing changes for more than 160 years, manufacturing agile, relevant and advanced customer products and services, adapted to the growth and success of customers.
