As the world’s leading monthly journal for the banking industry, The Banker’s awards programme recognises industry wide excellence within the global banking community. Standard Bank has been announced as this year’s Bank of the Year for both South Africa and Malawi.
After receiving over 1000 applications from banking institutions across the world, the judging panel reviewed the entries based on strict criteria, that include strong management, a sound business model, prudent risk approach, and creating customer value. From this competitive pool of 120 countries, one bank is selected for the world’s longest running international banking title: Bank of the Year.
A strong performance and innovative platform solutions
It was the ability to navigate through challenging circumstances brought on by the COVID-19 pandemic with a nimbleness and innovation-led spirit that convinced the panel to announce Standard Bank as the winner of the 2022 Bank of the Year award. This accolade applies to the Group’s entities in both South Africa, Tanzania and Malawi.
Additional reasons given by the judging panel for their choice were that over and above the bank’s strong financial performance, a wide range of ground-breaking initiatives, platform solutions, and digital partnerships were successfully launched, such as:
- Salesforce: A single client engagement platform to offer highly responsive, personalised, and world-class digital customer services to its clients.
- Shyft: A global money smartphone app that allows anyone to buy, send, and store forex instantly anytime, anywhere at the best rates.
- Thrive: A digital platform that aims to empower independent traders and brands to grow their businesses.
- OneHub: A business-to-business online marketplace to assist corporate clients with their digital transformation.
Realising the 2025 Ambition
This award is further evidence that Standard Bank’s 2025 Ambition is rapidly becoming a reality. By delivering integrated and seamless financial services to clients, reducing the time and cost to serve, and to innovating more quickly and efficiently, the bank is honoured for receiving this sought-after industry accolade for the transformation journey it embarked on to become a platform business.