Wearable technology is a growing phenomenon worldwide. The South African banking industry is catching up and has created a number of channels to facilitate simpler banking solutions for this technology.
Standard Bank, the biggest bank in the country has revealed its plans to make an Apple Watch app available to consumers by the end of September 2015. The bank is currently testing the app.
Head of digital Customer Solutions at Standard Bank, Magnus Taljaard said: “With our smart watch app we are providing greater choice to customers about how they would like to stay on control of their finances.”
The Standard Bank app will feature “Balance Peek”. This will allow users to check their latest account balances without having to log into internet banking or their smartphone app.
The big banks in the country are trying to encourage their customers to become more comfortable with banking using various platforms as opposed to traditional banking methods. It’s hoped that technology will make banking more secure for South Africans.
This app technology by Standard Bank will give consumers a simpler way of banking.
As an added security feature, the app will have a built-in kill switch so that you can de-link your account from the device should it get stolen.
Privacy and security issues are high on the bank’s agenda, so consumers can be assured that Standard Bank will work hard to ensure the safety of their details.
Although the Apple Watch hasn’t officially launched in South Africa, Standard Bank is racing to become the first local bank to have technology aligned with the wearable for South African consumers. The bank is prioritising the Apple Watch app. It will then consider application development for Android-based watches that are already officially available for sale in the country.