The offering includes the AccessAccount, a transactional banking account based on SAP Mobile Platform. SAP Mobile Platform integrates SAP and third-party back-end systems, which allows users to create mobile applications to extend the information from enterprise systems onto mobile devices.
With the app, sales agents can sign-up via a portable mobile device and open a bank account for customers. Once customers have the AccessAccount, they are able to perform transactions such as person-to-person transfers and purchasing of electricity and airtime through their mobile phones at any time. Customers can also perform transactions such as cash-in, cash-out and money transfers at Standard Bank AccessPoints, which operate through partnerships with informal traders already running businesses in their communities.
In recent news, Standard Bank has launched a contactless card payment technology, issuing its credit and cheque cards with a tap-and-go payment method.
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