Africa-Press – Zimbabwe. FINANCIAL services institution Stanbic Bank has fully digitised its international payments facility (iPay) as it moves to deliver seamless, accessible, and secure banking services.
This innovation underscores the bank’s commitment to leveraging digital solutions for improved customer experience.
Stanbic Bank chief executive Solomon Nyanhongo said the digitisation of iPay ensures universal access for clients, enabling faster, more efficient cross-border transactions.
“We are excited to advise that we have digitised international payments for all our Stanbic Bank Zimbabwe clients,” he said.
“Having first introduced self-service on international payments for corporate clients on our online banking channels, we have gone two steps further in ensuring the capability is available for enterprise and personal and private clients.”
The iPay solution allows all Stanbic Bank customers to submit their international payments digitally, anytime, anywhere on the online and enterprise online banking platforms.
It also allows clients to conveniently upload their payment supporting documents, as required by the Reserve Bank of Zimbabwe in the comfort of their homes or offices.
“In addition to the convenience of not having to visit a physical branch, to manually complete forms, our Stanbic Bank iPay cuts the processing time for international payments by over 50%,” Nyanhongo said.
He said the move is part of Stanbic Bank Zimbabwe’s digital transformation journey through which the Standard Bank Group subsidiary commits to provide reliable, affordable and effective banking solutions to all its clients.
Nyanhongo said iPay now joins other automated platforms such as internal transfers, RTGS and Zipit among others.
“We are driven by the mantra that “Zimbabwe is our home, we drive her growth” and to that end we take pride in ensuring that we have created a facility where our clients can now upload their payments without going to the branches,” Nyanhongo said.
He said the bank had a significant clientele base that would benefit from the digitisation of iPay drawn from mining, manufacturing, retail and distribution, non-governmental organisation, among other private and public sectors.
“Stanbic Bank is committed to a digital transformation journey aligned to financial inclusion and financial accessibility and we are determined to ensure that we are the centre of affordable but innovative service provision,” he said.
In 2018, Stanbic adopted digitisation as a means of keeping abreast of technological advancement in line with global trends
The digitisation journey has seen Stanbic launch contactless debit cards and POS machines, becoming the first financial services institution to introduce this technology onto the Zimbabwean retail market.
In addition to digital banking channel enhancements, Stanbic Bank Zimbabwe rolled out USD cash deposit machines across the country.
The machines allow anyone to deposit cash into a Stanbic Bank account at any time of the day, round the clock, whether it be a working day or a weekend including Sundays.
The bank additionally increased its automated teller machines from 37 to 48 across Zimbabwe over the past year.
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