Standard Bank hits 50,000 app users

Standard Bank says its banking application has reached 50,000 registered users since it launched on 27 June 2012.

“At this stage, statistics indicate that, since the app was launched, there are just over 50,000 registered users. Over R500 million in transactions has been processed through this platform,” said Itumeleng Monale, head of self-service and payment innovation at Standard Bank South Africa.

On Wednesday 15 August, First National Bank (FNB), the first to launch a banking application, said it had reached a quarter of a million active customers, with monthly FNB app activations reaching 40,000.

Banking rival, Nedbank announced the launch of its digital banking app in-house in June (although it started in March), giving staff beta access to the App Suite ahead of the planned public release.

Standard Bank Mobile Banking enables users to access a number of Standard Bank’s services, even if you are not an account holder. Users will only be allowed to access accounts from linked devices.

The app makes provision for up to 10 devices to be linked to an account.

The app is free, and has no subscription fees attached – but Standard Bank does point out that “there are transaction fees on certain transactions.”

Related article:

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FNB banking app hits transactions landmark

Nedbank App closer to launch

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Standard Bank hits 50,000 app users