Standard Bank has invested R1 billion to enhance its online banking platform, strengthening digital banking experience for Business and Commercial Banking (BCB) clients.
Launched in October 2024, the upgraded online banking platform forms part of a phased client migration journey, with enhancements introduced progressively as part of the bank’s broader digital modernisation programme. All new clients are automatically onboarded, while existing clients are upgraded in phases and notified in advance. This approach ensures continuity, stability and security for clients as improvements are implemented over time.
With over 140,000 businesses already onboarded onto the new system, the online banking platform supports business banking anytime, anywhere, and across devices. It enables companies of all sizes to manage transactions, payroll, and working capital with greater control and real-time visibility.
Since migration began, platform usage has grown, reflecting increased adoption and engagement as clients transition to the new digital environment. The online banking platform currently processes billions of rands in transactions per month, underscoring its growing role in supporting day-to-day business banking activity across South Africa.
While digital capability is critical, Standard Bank’s business banking model remains human-led and digitally enabled, combining advanced online banking with dedicated relationship managers providing personalised support, sector expertise, and advice on managing and growing their businesses.
“Running a business is demanding and managing finances should not add to that pressure,” says Bill Blackie, Chief Executive of Business and Commercial Banking at Standard Bank Group. “Our continued investment in our online business banking capability focuses on improving reliability, usability and security, giving business owners and their finance managers tools that are convenient and timesaving. When our clients have more clarity and control, they can focus on what really matters – running and growing their businesses.”
The new online banking platform directly advances BCB’s strategic priorities as part of Standard Bank’s broader digital banking modernisation, with investments in scalability, payments infrastructure, security, and system integrations. It is designed to evolve over time, with further enhancements introduced as migration progresses, rather than as a once-off implementation.
Key strategic benefits include:
· Enhanced client experience: Seamless, personalised digital journeys that strengthen relationships
· Digital adoption and efficiency: Digitised processes reduce friction and operational dependency
· Stronger security and compliance: Automated controls and audit trails minimise risk
· Scalable growth: Supports expansion across segments and geographies
· Innovation foundation: Enables new features such as immediate payments via PayShap and direct integration with accounting software providers for simplified financial management. It also supports bulk payments and file uploads for employee salary payments, while giving business owners peace of mind through user roles and permission controls to help them manage their businesses effectively.
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