Online Reporter
Online Reporter
Leading financial services institution Stanbic Bank has digitised its international payments facility for all clients, reaffirming its commitment to providing seamless, accessible, convenient, and secure banking services to its valued customers.
Stanbic Bank’s Chief Executive (CE), Solomon Nyanhongo, said the digitisation of international payments (iPay) marks a milestone, now enabling all clients – Corporate, Business, Personal, and Private – to access the facility.
Nyanhongo explained that the facility was initially introduced for Corporate Clients but has since been extended to all clients.
“We are excited to announce that we have digitised international payments for all our Stanbic Bank Zimbabwe clients. Having first introduced self-service international payments for Corporate Clients via our online banking channels, we have taken two further steps to ensure the capability is available for Enterprise, Personal, and Private Clients,” said Nyanhongo.
He added that the iPay solution allows all Stanbic Bank customers to submit international payments digitally, anytime and anywhere, through the Online and Enterprise Online Banking platforms.
The facility enables clients to conveniently upload payment supporting documents, as required by the Reserve Bank of Zimbabwe (RBZ), from the comfort of their homes or offices.
“Beyond the convenience of avoiding branch visits and manual form submissions, our Stanbic Bank iPay reduces processing time for international payments by over 50%,” said Nyanhongo.
He emphasised that this initiative is part of Stanbic Bank Zimbabwe’s digital transformation journey, through which the Standard Bank Group subsidiary aims to deliver reliable, affordable, and effective banking solutions to all clients.
Nyanhongo noted that iPay now joins other automated platforms, including internal transfers, RTGS, and Zipit.
“We are driven by the mantra, ‘Zimbabwe is our home; we drive her growth.’ To that end, we take pride in creating a facility where clients can upload payments without visiting branches,” he said.
Stanbic Bank serves a significant clientele base across mining, manufacturing, retail, distribution, NGOs, and other private and public sectors, all of whom stand to benefit from iPay’s digitisation.
“Stanbic Bank is committed to a digital transformation journey aligned with financial inclusion and accessibility. We are determined to be at the forefront of affordable yet innovative service provision,” he said.
In 2018, Stanbic embraced digitisation to keep pace with technological advancements in line with global trends.
The bank’s digitisation journey has included the launch of contactless debit cards and POS machines, making it the first financial services institution to introduce this technology to Zimbabwe’s retail market.
Accepted in 78 countries worldwide, Stanbic’s contactless debit cards and point-of-sale machines reflect its customer-centric approach. It is estimated that all point-of-sale terminals in Europe will soon be contactless-enabled.
In addition to enhancing digital banking channels, Stanbic Bank Zimbabwe has rolled out USD cash deposit machines nationwide. These machines allow anyone to deposit cash into a Stanbic Bank account at any time, including weekends and public holidays.
Over the past year, Stanbic Bank has also expanded its ATM network from 37 to 48 across Zimbabwe, reinforcing its commitment to improving cash access in historically underserved markets. The new ATMs, located in areas such as Kadoma, Kariba, Ruwa, Chiredzi, Masvingo, Charter House (Bulawayo), and Bindura, are available to all Stanbic clients as well as foreign Visa and Mastercard holders.
