Standard Bank is taking banking to the people and making it more accessible. The South African banking giant is opening in-store branches in selected Pick n Pay retail stores in Cape Town, Western Cape and Johannesburg, Gauteng.
The bank said they will have a space for consultations, as well as a more private area for in-depth discussions, and will be manned by Standard Bank employees.
“Our philosophy is to create banking solutions that reach clients in the way that works for them,” said Standard Bank’s CEO of consumer and high net worth client segments, Funeka Montjane.
Standard Bank becomes the second bank to partner with a retail store after TymeBank. In 2019 the digital bank signed a partnership with Pick n Pay to house over 700 plus of its banking kiosks helping the bank to get traction in the market.
John Bradshaw, the head of Omnichannel at Pick n Pay, said, “Extending our service offering beyond traditional retail products and services is an opportunity we identified and acted on long before most others within the industry did. Customers are increasingly looking for accessibility and convenience, and we have worked hard to innovate in answer to this need.”
According to the bank they already opened its first instore Pick n Pay branch last month in Richmond, Western Cape. It is a 6m² branch and Standard Bank said it was very well received by customers.
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