• Introduction
    • OVERVIEW
    • INTRODUCTION TO THE STANDARD BANK GROUP
    • OUR REPORTING SUITE
    • A LETTER FROM OUR CEO
    • STAKEHOLDER ENGAGEMENT
    • ASSURANCE STATEMENT
     
     
     
     
     
     
  • SEE impact areas
    • OVERVIEW
    • IMPACT REPORTING
    • 1.
      FINANCIAL INCLUSION
    • 2.
      JOB CREATION AND ENTERPRISE DEVELOPMENT
    • 3.
      INFRASTRUCTURE
    • 4.
      AFRICA TRADE AND INVESTMENT
    • 5.
      EDUCATION AND SKILLS DEVELOPMENT
    • 6.
      EMPLOYEE DEVELOPMENT AND TRAINING
     
     
  • ESG
    • OVERVIEW
    • ABOUT THIS REPORT
    • MANAGING E&S RISKS AND OPPORTUNITIES
    • OUR DIRECT ENVIRONMENTAL PERFORMANCE
    • VALUING OUR PEOPLE
    • INVESTING IN COMMUNITIES
    • PROMOTING SOUND GOVERNANCE AND INTEGRITY
    • ESG METRICS AND POLICIES
     
     
  • Transformation
    • OVERVIEW
    • INTRODUCTION
    • A LETTER FROM SBSA CE: LUNGISA FUZILE
    • STANDARD BANK’S BEE SCORECARD
    • WHERE TO FIND MORE INFORMATION
     
     
     
     
     
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Financial inclusion

SEE IMPACT AREA ONE
Financial inclusion - SEE IMPACT AREA ONE
Summary

In 2018, we helped 4 958 South African affordable housing customers purchase a home. We work closely with the Department of Human Settlements to enable access to finance, and access to information to support responsible debt management.

We’re committed to partnering with our customers during difficult times, and endeavour to work with our customers to develop workable solutions when they find themselves struggling to repay their debt. Options include a debt moratorium, extended loan terms or reduced repayment. Currently 7% of our affordable housing customers are making use of such facilities.

Accessible and convenient digital channels are essential to broaden and deepen financial inclusion across the continent. Standard Bank products such as Instant Money, which issued more than two million vouchers in South Africa, and Slydepay, SnapScan and Shyft offer users greater convenience and cheaper transaction rates than branch or ATM options and are safe and secure. Cardless cash deposits, available in most of our countries of operation, allow customers to deposit cash at an ATM, without using an ATM card. We’ve also developed targeted remittance products which enable affordable transfers across national borders.

We’re keenly aware of our responsibility to ensure that our customers have a clear understanding of our products and services, and how to use them cost-effectively. We run consumer education programmes in several of our countries of operation, including South Africa, Nigeria and Ghana.

SDG 8.10

Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

MATERIAL ISSUE

Deepen financial inclusion across Africa with appropriate digital offerings

SDG 8.10

Work with our customers to mitigate over-indebtedness (including sales-in-execution)

Enabling home ownership to improve financial inclusion

Helping people buy a home is one of the most important roles we play in society. A home provides shelter and dignity for families and provides an opportunity to build inter-generational wealth. Standard Bank is a major provider of home loans in South Africa, with a 34.2% market share.

Since 2013, we have helped over103 000 women register R73.2 billion in home loans, of which R13 billion were registered in 2018, an 11.1% increase on the prior year
Total number of home loans on our books: 538 195 accounts to the value of R306  billion
Since 2013, we have helped over 189 000 historically disadvantaged customers register R108  billion in home loans
In 2018, we registered R20.5  billion in loans for historically disadvantaged customers, an increase of 16% on the prior year
In 2018 2 054   
home loans were restructured to keep families in their homes
Digital solutions to improve access and affordability

Standard Bank is keeping pace with rapid technological change by partnering with fintech companies to introduce safe and secure financial solutions in a responsible manner.

We’ve developed a sourcing and scouting model to identify fintech companies which have the potential to provide solutions to better serve customers and business supported by an engagement framework with clear guidelines and principles for business to execute. We have an internal fintech working group, with shared capabilities to identify the most suitable fintech partners. Our fintech investment portfolio includes utility providers, enhanced payment capabilities, lending businesses and technology providers.

Cutting waiting times in branches to serve our customers better

We recognise that while digital channels offer ease of access and more cost-effective solutions for customers, many people still prefer to visit a branch and talk to a bank representative face to face.

Helping customers make informed financial decisions through consumer education

A 2018 study conducted by the World Bank on behalf of South Africa’s National Treasury highlighted the extent to which bank customers may find it difficult to access information about different products and fee structures, making it difficult for them to know whether they’re getting value for money and to identify the most appropriate solution for their particular needs.

Helping our customers save, invest and plan for the future

We work closely with our customers to develop financial solutions that enable them to save, invest, grow their assets and plan for the future. This is important in maintaining generational wealth, as well as growing new wealth and planning for the unexpected.

Bimbo Ladele
HEAD OF MICRO-PENSION AND AGENCY DEPARTMENT, STANBIC IBTC PENSION MANAGERS LIMITED
“As the largest pension fund administrator in Nigeria, Stanbic IBTC sees our micro-pension scheme as a great opportunity to deepen financial inclusion in the country. My primary role is to champion the inclusion of every self-employed and hard-working Nigerian within the informal sector market to save for future retirement.”
Our diverse transactional channels provide multiple ways to bank

In 2018, we provided personal credit card accounts for 1.2 million customers and over 60 000 corporate credit accounts.

ways-to-bank Mobile Banking 80% Internet Banking 73%