South Africa: Standard Bank’s mobile customers hit 3 million

Money Transfer


Standard Bank says its mobile banking customers have swelled to 3 million representing a 58% increase from the same period last year.

Standard Bank says its mobile banking customers as at July 2013 have swelled to 3 million, representing a 58% increase from the same period last year.

The group has reported a 10% rise in headline earnings per share in the half-year to June period to 506 cents, and a dividend per share of 233 cents was declared.

“Sharply increased activity occurred through the mobile banking channels in South Africa offset by slightly lower activity through the group’s ATM network,” it said in its results presentation.

Vuyo Mpako, head of channel design and development at Standard Bank, said that at June 2013 the group had just under 170,000 unique registered users of its app, with the total value of transactions on the app at approximately R11 billion in the year to date.

Having launched its app in July 2011, First National Bank (FNB) announced last month that its banking app for smartphones had surpassed 520,000 active clients.

“We are elevating our investment on our smartphone banking app, our fully integrated Instant Money send money offerings, as well on our Automated Note Acceptor (ANA) machines. We are also upgrading our current network infrastructure to ensure that all points of representation are modern, fresh and appealing,” Mpako said.