So a full 12 month after the initial FNB app, Standard Bank has finally launched their own Mobile App. Welcome to the party.
Not sure why the app was launched so quietly as it is available across the popular South Africa devices namely:
- iOS – Operating System version 4.3 or higher
- Blackberry – Operating System version 6 or higher
- Andoid – Operating System version 2.2
The app is simple to use, is quick and responsive. After the initial 4 step registration which can all be done on the phone, you are able to log into your banking profile as it is on the Internet.
I must say I am pretty impressed with the functionality built into the app. When you are on the road, there are certain task that you want from a banking app – and this app delivers on these. My main tasks are to view all my accounts, see the transactions, view statement for the past 30, 60, 90 days and make payment to beneficiaries from any of my accounts (very important) and I can transfer money from account to account.
There are other cool stuff like: purchase prepaid airtime and send money to another Standard Bank customer.
The interface is simple, clean and taken into consideration “fat fingers” so everything is clickable without making any mistakes. The statements and transactions are laid out in so that you can easily tell what you are looking it as the page is divided into dates and information is neatly displayed. This is particularly handy when trying to read a screen that has lots of numbers on it.
I would add TWO items to the app:
1. Help icon on each screen – there are items that require a bit of explanation eg. When sending money to someone you can either enter their account number or their cell phone with the comment “Recipients can only be registered Standard Bank cell phone banking customers” – what does that mean ? how do I know if I am sending someone money that they are or are not “registered” ?
2. Timer icon – you know the “hourglass” icon would be nice when doing a search. It tells the user if the search failed or still searching. currently the page just goes blank.
- Locate your nearest Standard Bank ATM, branch on a map so you know how to get there.
- View financial indicators for commodities, foreign exchange rates and shares. Not sure why this is always included in these apps as people who really care usually have Trading apps but ok.
- Calculators are cool to easily calculate vehicle repayments, home loan repayments and home loan affordability. Nice.
- Contact the Bank – Important numbers such as reporting lost or stolen cards are available to quickly make contact without looking up numbers.
So in summary:
You obviously need to be a Standard Bank customers to use the app and there is no subscription for use of this app.
According to Standard Bank :”There are transaction fees on certain transactions.” however they don’t define which transactions and what the fee is. Maybe its in the Terms and Conditions…
The obvious comment that is being thrown around is that Standard Bank are not innovating but simply copying what FNB did.
In my opinion, whether they are or they are not, is not the question. Standard Bank, like every other bank, has no choice but to be in the App game. Fish where the fish are – Bank where the customer wants to. In this case, the customers want to be mobile and still have access to their bank.
Once the app is in the market, then its far simpler to add new functions onto it and keep pushing features out as the customers demand it.
Still confused as to why the front page of the Standard Bank website doesn’t mention this app and nor why any of the Standard Bank customers I spoke to have NO idea that this app is available.
Its a great app and I look forward to seeing how it will develop over time.