Awards for Excellence 2020
It’s hard to find a more comprehensive and cutting-edge offering in wealth management across Africa than that of Standard Bank, which is why the bank wins the award for best bank for wealth management in Africa once again.
One of its mottos is ‘banking on your terms’, which means giving clients a range of options in how they bank and transact. The latest option is a multi-currency digital wallet, Shyft. Each wallet contains up to five currencies and can be linked to a physical card.
“For clients who may have children studying abroad, for example, this means rather than sending money via Swift etc, parents can simply load the wallet with the relevant currency for their child’s residency, and those children can use the funds at point-of-sale terminals or draw the money they need from an ATM,” says Shaun Kotwal, head of Standard Bank wealth and investment South Africa.
It is one of many innovative tools for the bank’s high net-worth clients. Others include the My360 wealth management app, which provides an aggregated look at assets and liabilities, held locally and internationally, across 20,000 institutions.