1 December 2008
After 20 years of its successful deployment in South Africa and other African countries, Stanbic IBTC Bank last week launched the online banking channel, known as new Business Online into the Nigerian market.
New Business Online is an internet-based multi-currency, multi-country, multi-entity online banking channel, which enables clients to make payments to third parties (suppliers, vendors, staff etc), transfer funds between their own accounts and provides them with real-time access to their balances and statements for all accounts, across currencies, and even across countries. It is powered by state-of-the-art technology and adheres to the highest levels of user-friendliness.
At a press briefing in Lagos on Thursday, the Deputy Chief Executive Officer of Stanbic IBTC Bank, Mrs. Sola David-Borha , said "the deployment of this online banking channel is in line with the Bank's strategic focus of strengthening its universal banking franchise.
"It is secure and allows multiple signatory authorizations, and it allows clients to set up users and authorizers according to their own segregation of duties. It has a sophisticated built-in messaging and reporting tool and audit trails".
Head, Transactional Products and Services, Andrew Mashanda, further stated that "the major strength of our new online banking channel is the convenience and ease with which customers can transfer funds and view statements in the comfort of their offices or homes."
He also mentioned that this channel is one of the safest methods of transferring funds, as it eliminates the risk associated with carrying large sums of cash from place to place or the inconvenience of writing cheques and expecting confirmation of payments made.
The Standard Bank Group, which has a controlling stake of 50.1 per cent in Stanbic IBTC, has been in business for 146 years and is Africa's largest banking group ranked by assets and earnings. As at 30 June 2008, the group had total assets of over US$174 billion, employing over 48,000 people worldwide, a network in 18 African countries and 20 countries outside of Africa including the key financial centres of Europe, United States of America and Asia.
Be the first to Write a Comment!
Copyright © 2008 Vanguard. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
