Standard Bank is increasing its branches alongside new partner, Pick n Pay, with an aim to make banking more accessible.
According to IOL, Standard Bank has started constructing in-store branches in Pick n Pay stores in the Western Cape and Gauteng regions.
Funeka Montjane, Chief Executive, Consumer & High Net worth clients of the Standard Bank Group, said, “Branches have undergone a major shift in form and function over the last decade. This allows Standard Bank to increase its footprint while still offering the human touch. In the digital age, there is still a real need for face-to-face banking. Here we are making it easier, convenient, and bringing a branch to where our clients are.”
A number of services will be offered at branches, reports BusinessTech, including:
- Assistance with PINs
- Bank confirmation letters
- Account activations
- Debit order disputes
- Limits management
The in-store branches will provide space for any consultations and private areas behind slatted screens for more in-depth consultations – all assisted by Standard Bank personnel.
Sim Tshabalala, Standard Bank’s chief executive says, “The first six months of 2021 were another exceptionally difficult period for many of our clients, staff, and stakeholders but we are now hopeful that the worst phase of the pandemic is behind us.”
Standard Bank has already opened its first in-store 6 square meter branch at Pick n Pay’s Richmond branch in the Western Cape.
“Notwithstanding these continuing strains, some early signs of recovery are evident in the Standard Bank Group’s (SBG or the group) financial results for the first half of 2021 (1H21). Our underlying business has strong momentum and, relative to this time last year, we have seen a recovery in client activity, an improved outlook, and lower impairment charges,” Tshabalala concluded.
This will also allow many customers to bank beyond the usual banking hours, and all in-store branches will operate during Pick n Pay’s trading hours.
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