STANBIC SHIFTS TO TECHNOLOGY
Stanbic Bank Botswana has launched a global forex, investment and payments app, dubbed Shyft. The application allows users to buy, sell and store forex, manage their international investments, do free peer-to-peer payments, and easily transact from the safety and convenience of their mobile phones.
“We have an opportunity to leverage this technology to transform people’s lives in a way that allows them to connect financially,” said Shyft Co-Founder and Head of Shyft, Arno von Helden.
Von Helden said the Shyft app is not exclusive to customers of Stanbic Bank, but it is accessible to everyone with a travel passport as a prerequisite.
“We are excited that Shyft has extended its footprint to Botswana as it will now enable more people to experience the solution.
Shyft was first launched seven years ago in South Africa and now has over 170 000 users. Through this App, the Standard Bank Group has become the largest foreign exchange bank in Africa.”
Stanbic Bank said Shyft is a key part of banking solutions designed for the modern customer, enhancing the Global Markets solutions.
“Stanbic Bank Botswana recognises the paradigm shift of today’s consumer towards being more tech savvy.
“We understand that in order to truly drive Botswana’s growth and deliver exceptional services to these very clients, we must be agile,” said Lebea Sephuma, Head of Global Markets at Stanbic Bank Botswana.
He said the bank is consistently looking to innovate and refine services to offer exceptional experiences that add value to their lives.
“We do this through innovative digital solutions catered to individual banking needs,” said Sephuma.
Shift allows one to purchase forex and conduct online transactions, store forex safely and securely in their Global Wallet for use now or in the future, buy and sell global shares and exchange traded funds on the NASDAQ and NYSE directly.
In addition, one can use UnionPay International or Mastercard physical or virtual cards for transactions.
On the pipeline for the bank, are plans to partner with remittance companies on the continent to expand its service offerings and further disrupt the market.