Investec has launched a new business banking offering – Investec for your business – which provides a full portfolio of products, services and capabilities for established entrepreneurs and mid-sized businesses.
The offering is backed by a comprehensive transactional banking solution, which complements Investec’s existing business-focused finance, forex, cash management, and private banking services, the group said.
“While we are not known as a business bank, we now have a full end-to-end business proposition,” said Investec Bank chief executive, Richard Wainwright.
“With this launch, Investec now offers a suite of business solutions tailored to your specific requirements, whether you are a medium-sized enterprise, a professional practice or a multi-faceted business.”
Investec said that it managed to attract a significant number of business clients in the past year, despite the challenging conditions brought by the Covid-19 pandemic and lockdowns.
Private Business accounts increased by 9.9% between March 2020 and March 2021. The lending book for the Investec for Business division grew by 11.2% over the same period. Cash investments also reached and outperformed targets over the last year, it said.
Wainright said that, currently, the mid-sized business market in South Africa does not have access to a private client experience, and that Investec’s niche positioning in the market provides a unique space for this.
With the new product, Investec said businesses will get:
- Transactional capabilities;
- Access to secure online platforms via multiple digital channels;
- Tailor-made banking to suit unique business needs;
- Both digital and in-person support channels;
- Access to comprehensive offerings and expertise in complementary areas;
- Facilities to accommodate growth;
- In-house supply chain management expertise and services.
“Navigating the complexity inherent in the current business environment poses an unprecedented challenge for business owners. In fact, making sense of resilience in a shifting environment is a challenge at the best of times.”
“Businesses now have a banking partner in Investec for your business and we look forward to not only taking this strategy to market but working with this sector to explore untapped growth opportunities,” Wainwright said.