Africa’s best bank for wealth management 2021: Standard Bank
Standard Bank is once again a worthy winner of the award for Africa’s best bank for wealth management. It offers wealth management services in southern, eastern and parts of western Africa – 15 countries in all, including South Africa, Nigeria and Kenya.
Technology and people are at the heart of its offering. Its Challenger portal, a platform for peer-to-peer learning, was a major asset in 2020, as the bank helped high net-worth clients to navigate Covid-related turbulence.
A tie-up with Salesforce, announced last year by group chief executive Sim Tshabalala, and PowerBI, an internal reporting tool, helped Standard Bank to deliver clear portfolio insights to its relationship managers. Its Elite Wealth system gives clients a holistic view of their entire portfolio, encompassing investment performance and fees.
A three-tier system allows clients to choose from one of three risk profiles and its offering is enhanced by a planning tool called My360 that gives customers greater control over their private wealth journey.