For the most part, your bank doesn’t suck... really, I mean that. Our banks have stepped into the 21st century and are attempting to make our banking experience as pleasant as possible. While I might be young I’m not young enough to forget a time when any banking had to be done by going in to a branch and dealing with a human. I’m only really a fan of dealing with other humans if they’re making me laugh or throwing chocolate at me… neither of which they do in banks.
One of the big changes in the banking sector is a change in attitude. Because of security risks, banks were inherently dubious to look at technology outside the realm of what they were developing in-house. If new technology outside the bank was financed there was a “MINE” type attitude that came with it. That has changed and the likes of SnapScan is a perfect example of this. While Standard Bank may have supplied funding to the app, it wasn’t exclusively for their clients. Any customer or merchant could use the technology.
With that same idea of collaboration to benefit everyone, Standard Bank partnered up with the 2014 Matchi Global Fintech Innovation Challenge. This is a competition for Fintech firms worldwide who submit innovative solutions in a host of banking categories including Mobile Payments & Customer Service, Lending, Personal Financial Management & Investment, Banking & SMEs as well as Security & Fraud Reduction.