Stanbic To Leverage On Technology

Staff Writer | Monday May 21, 2018 14:33

According to the Bank’s acting chief executive (CE), Sam Minta they plan to improve the existing electronic platforms to ensure they have an efficient way of growing their relationship with their customers.

“Our goal is to not only do the basics brilliantly, but also to lead the technology agenda in the market. The world is transcending to a place where the ‘big data’ component of how we drive our plans and how we mine it becomes ever more important,” he said. The CE said deepening relationships and using technology to partner with their clients the way in which they deliver the full experience would be more memorable.

He said that the sector is facing increasing competition from technology companies that span across companies like Fintechs even more recently Blockchain which is being tested across several products.

“This is not likely to stop but more so expected to increase over time. Since we are aware of these developments, our approach is to partner with the new entrants and find ways of collaborating with the common goal of providing financial services to communities,” he said. In addition Minta said regulatory requirements are constantly increasing and they learn, adapt and change with the regulations to make sure they are compliant and have a clean bill of health from their regulators in terms of the laws that govern how they do business.

He said that the business of banking is centred on trust and integrity and that they would uphold these to the highest standards whilst communicating openly.

Locally the bank is optimistic about the infrastructure, wastewater and clean energy projects that have the potential to create capital spend and a multiplier effect that would really transform the economy and support other thriving sectors.