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Standard Bank quietly launches mobile banking app

The mobile banking wars are hotting up. Just a day after Nedbank released a beta app to its staff, fellow South African banking giant Standard Bank quietly slipped out one of its own.

The app, which is currently available for iPhone, Android, and BlackBerry launched yesterday without any official announcement from Standard Bank.

The launch comes just under a year after First National Bank (FNB) launched the country’s first mobile banking app.

Like FNB’s effort, Standard Bank’s app comes with a number of the functions people would be familiar with from internet banking, including the ability to:

  • View your available and actual account balances in easily navigated categories.
  • Get graphs that compare the state of your accounts.
  • See net balances on all your accounts.
  • Search for specific transactions and view your provisional, 30-day, 60-day and 90-day statements.
  • Transfer funds between any of your linked accounts.
  • Pay beneficiaries that have been preloaded onto your banking profile. These are added on internet banking or by visiting your nearest branch.
  • Buy airtime from Vodacom, MTN, Cell C, Virgin and 8ta. Telkom Worldcall cards can also be topped up. Browse your device‚Äôs address book to easily buy prepaid.

The app also allows you to send cash to other Standard Bank users, using just their cellphone number and locate branches and ATMs (another feature it shares with the FNB app).

There’s an obvious question looming here: is Standard Bank going to innovate with its app or just copy others? At the moment, it’s difficult to see any real signs of innovation. If it’s going to use the app as a tool for attracting new customers it’ll have to find some way of differentiating itself and overcoming the handicap of coming to the market so long after FNB.

Author | Stuart Thomas

Stuart Thomas
Stuart is the editor-in-chief of Engage Me Online. After pursuing an MA in South African literature, he spent five years reporting on the global technology scene. Intrigued by the intersection of technology and work, he joined Engage Me as the editor-in-chief. He is a passionate runner, and recently ran... More

14 Comments

  1. Ito

    June 27, 2012 at 2:48 pm

    Luckily south Africa is not like in the US, so standard bank can get away with copy-cat. Otherwise they would be slept by a huge lawsuit. Lolest.

  2. Ky Beckx

    June 27, 2012 at 3:22 pm

    I dont think they are worried about innovation, Id think they launched this to slow the loss of customers to FNB. At least match them then try and beat them.

  3. ThinkItThrough

    June 27, 2012 at 5:09 pm

    Copy cat? is it copying if ALL banks offer the same services (Payments, transfers, prepaids, etc.) the app merely exposes these services to the client and there are so many ways to do it.
    Just because FNB did it first doesn’t mean everyone else is copying them.

  4. Pingback: Standard Bank quietly launches mobile banking app | memeburn | South Africa Bank Blog

  5. Darryl

    June 27, 2012 at 9:27 pm

    I own the domain bankingapp.co.za its for sale. Make an offer.

  6. InsanityFlea

    June 28, 2012 at 10:55 am

    Thanks Standard bank & FNB for making our banking easier. Nice of Standard Bank to upgrade the mobile banking they already have with a nice GUI App. All of the banking apps will have the same basic services. I see your point about innovation but will you use other features than what they have now? I’m an EX FNB client (14 years of hell), & VERY happy with Standard Bank.

  7. Pingback: Standard Bank Launches Mobile Banking Application | Data Management, Document Management, Workflow Management, SCAD

  8. Pingback: Standard Bank Mobile App Review

  9. panyaza

    July 11, 2012 at 3:40 pm

    Pretty much useless, well for me and other South African citizens I know not residin in SA because it non operational outside SA. Bear in mind SBSA is supoosed to be international but can’t cater for loyal customers.Those techinican should be do a bit more. On the plus side, it better than HSBC and Santander ONLY that they work internationaly.

  10. Pingback: Nedbank quietly launches Android app | memeburn

  11. ed

    September 11, 2012 at 7:25 am

    Is sbsa copied fnb that would mean the fnb app doesn’t work. I’ve downloaded this app 4 times with only a white screen pop up. Waste of time. I’m even thinking of switching to fnb. I know I sound like an ad, but its true.

  12. Pingback: Absa finally ready to launch banking app | memeburn

  13. Pingback: Investec pips Absa to the smartphone banking app post | memeburn

  14. Pingback: Absa launches its app, becoming the last big South African bank to do so | memeburn

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