Two key elements of Standard Bank Wealth and Investment’s offering stood out in this category. The first of these, My360, allows clients to visualise and control their financial assets. It offers them an aggregated view of their portfolio across asset classes, providing clients with a view of their net asset value in multiple currencies, and allowing them to delve deeper into different categories from a single dashboard.
It also allows clients to share the view with their relationship manager.
The service is engineered around five principles: aggregation, comprehensiveness, convenience, consolidation and financial education. Even people who are not Standard Bank clients can use the service to assess their financial status.
It is possible to use the app to view thousands of different local and global financial services, according to the bank. These can be viewed as on- or offshore only or combined, including a feature to view the historic trends over a six-month period. It gives access to details including on- and offshore percentage splits of assets, liabilities and life-insurance balances.
It is possible to use Standard Bank Wealth and Investment’s app to view thousands of different local and global financial services
Recent improvements to My360 include a feature to set financial goals and track progress towards them, including new funds and access to services such as behavioural finance-focused Discovery Bank. It registered a 25% growth in registered users in 2023, reaching almost 100,000.
Another example of Standard’s innovation for its wealth management clients is Shyft, allowing users access to digital foreign exchange services, international investing, cross-border payments and more. Recent improvements to Shyft include expanding its services to serve more people across Africa, leading to an increase in customers and flows.
Beside improvements to Standard’s wider wealth-management service in Nigeria and Kenya, it also launched the Next Best Action tool in Ghana, providing relationship managers with recommendations on which clients require products or solutions at a certain point in time.
