by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – STANDARD Bank branch transactions decreased by 13 percent in the first half of 2024 to around 2,5 million, as clients shifted to digital channels.
Over the same period, online transactions increased by 30 percent to 1,5 billion with Standard Bank clients performing an average of 10 400 digital transactions per month, compared to 0,017 transactions in branches.
Transactions through automated teller machine (ATM) have also increased by 8 percent to 104 million.
“Our customers’ preferences are changing rapidly, and we are committed to meeting their needs in the most efficient and effective ways possible,” said Kabelo Makeke, Head of Personal and Private Banking at Standard Bank South Africa.
The bank has reduced its branch square meters by 4 percent to 239 000 square meters in the last year.
The number of points of representation in South Africa now stands at 654.
Makeke said the goal was to provide customers with the best possible banking experience, whether they chose to engage digitally or in person.
“By adapting our branch network and enhancing our digital capabilities, we are ensuring that we remain responsive to our customers’ needs and preferences.”
– CAJ News