Financial Data
Updated 26 Feb 2020


Standard Bank introduces a first in SA: Smart watch banking

Standard Bank today announced plans to embrace wearable technology, with the forthcoming release of its Apple Watch banking app.


12 June 2015  Share  0 comments  Print


All the answers to your unique business lifestage questions

In another first for banking in South Africa, Standard Bank’s Apple Watch app is currently being tested with pilot users and will be available to the general public by the end of September 2015.

Related: Five things the Apple Watch has in common with modern offices

It follows Standard Bank’s recent launch of SA’s first biometric-enabled banking app – giving users access to smartphone banking using Apple’s Touch ID technology.

“We are continuously looking for ways to make our customers’ lives easier and to make banking a seamless part of their daily lives. With our smart watch app we are providing greater choice to customers about how they would like to stay in control of their finances,” says Magnus Taljaard, Head of Digital Customer Solutions at Standard Bank. 

Take a peek at your balance 

The first version of the Standard Bank’s Apple Watch app will contain aBalance Peekfeature – allowing users to check their latest account balances without having to log into internet banking or their smartphone app.

“Balance Peek on smart watches is perfect for those moments when you need to quickly and unobtrusively check your balance,” explains Taljaard. 

“The Apple Watch app will be followed by similar rollouts for Android Wear-enabled watches later in the year,” Taljaard adds.

Smart banking with smart watches 

As more users start embracing smart watches and other forms of wearable personal technology, Standard Bank will continue to work with customers to understand their requirements and develop a roadmap of banking features for wearables.

Already on the agenda are smart watch services that allow share trading clients to track indices and shares, see the biggest market movers and track changes in their share portfolios.

Related: Retail trends to watch for in 2015

Importantly, as with any new customer solution, privacy and security issues are high on the bank’s agenda. For this reason, users are able to de-link their Apple Watch from their iPhone, as well as to toggle the Balance Peek feature on or off from the main banking app. 

Rate It12345rating

Introducing the theft & fidelity protection for your business

Theft and fidelity cover are often confused with each other. Bryan Verpoort discusses the difference between the two and why your business should be putting measures in place for both of these risks.

Login to comment