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Standard Bank introduces a first in SA: smart watch banking

11 June 2015 Magnus Taljaard, Standard Bank
Magnus Taljaard, Head of Digital Customer Solutions at Standard Bank.

Magnus Taljaard, Head of Digital Customer Solutions at Standard Bank.

Standard Bank today announced plans to embrace wearable technology, with the forthcoming release of its Apple Watch banking app.

In another first for banking in South Africa, Standard Bank’s Apple Watch app is currently being tested with pilot users and will be available to the general public by the end of September 2015. It follows Standard Bank’s recent launch of SA’s first biometric-enabled banking app – giving users access to smartphone banking using Apple’s Touch ID technology.

“We are continuously looking for ways to make our customers’ lives easier and to make banking a seamless part of their daily lives. With our smart watch app we are providing greater choice to customers about how they would like to stay in control of their finances,” says Magnus Taljaard, Head of Digital Customer Solutions at Standard Bank.

The first version of the Standard Bank’s Apple Watch app will contain a Balance Peek feature – allowing users to check their latest account balances without having to log into internet banking or their smartphone app.

“Balance Peek on smart watches is perfect for those moments when you need to quickly and unobtrusively check your balance,” explains Mr. Taljaard.

“The Apple Watch app will be followed by similar rollouts for Android Wear-enabled watches later in the year,” Mr. Taljaard adds.

As more users start embracing smart watches and other forms of wearable personal technology, Standard Bank will continue to work with customers to understand their requirements and develop a roadmap of banking features for wearables.

Already on the agenda are smart watch services that allow share trading clients to track indices and shares, see the biggest market movers and track changes in their share portfolios.

Importantly, as with any new customer solution, privacy and security issues are high on the bank’s agenda. For this reason, users are able to de-link their Apple Watch from their iPhone, as well as to toggle the Balance Peek feature on or off from the main banking app.

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