Our clients are at the centre of everything we do. We strive to meet their individual needs by seamlessly delivering relevant and complete solutions using their preferred channel.
MEASURING OUR STRATEGIC PROGRESS
What success looks like
How we measure our progress
To understand how satisfied our clients are with our service and to improve on areas of specific concern, internally facilitated client surveys, appropriate for each business line, are conducted throughout the year.
HOW WE PERFORMED
Net promoter score (NPS) for PBB and Wealth
NPS indicates the likelihood of a client recommending Standard Bank to their friends, family and others as a provider of products and services. It is calculated by subtracting detractors from promoters. This value can range from -100 (if every client is a detractor) to +100 (if every client is a promoter). Any score above zero means there are more promoters than detractors.
Client satisfaction index (CSI) for CIB
CSI is a measure of the extent to which our clients are satisfied with the service CIB provides. This is calculated using a ten-point rating scale.
2019 KEY PRIORITIES
- Interact with our clients to deepen our understanding of their evolving needs and preferred ways of accessing our services, so we can deliver exceptional experiences.
- Offer clients access to relevant products across channels of their choice, taking into consideration the substantial adoption by many of our clients of digital platforms and channels.
- Improve the quality of our digital offerings by improving the stability of our platforms, increasing adoption.
- Leverage data and analytics to proactively deliver personalised offerings to our clients.
- Extend our direct offering capability into small businesses and middle market clients within South Africa.
- Mature our value chain (ecosystem) approach across all markets.
- Continue to review our distribution capabilities given the growing preference for digital transactional services, while also responding to client demand for digital services that extend beyond purely transactional services.
- Continue to offer redesigned physical channels to serve the needs of clients who prefer this means of access.
- ‘Always on and always secure’ services require greater investment in infrastructure, which leads to higher running costs.
- Innovative and secure digital development is critical to respond to changing client needs and demand for instant fulfilment, leading to reduced branch visits, reduction in traditional revenue streams and active prioritisation of IT spend.
- The fundamental review and development of new capabilities and skillsets, to deepen our understanding of our clients and serve their needs better, temporarily impacts the working environment and productivity of our people, and may affect client experience as the required changes are made.
- Introducing innovative products in response to client demand and competitor activity leads to improved client retention, albeit at the cost of traditionally higher yielding revenue streams.
- Branch reconfigurations and branch closures resulting from changing client behaviour, require headcount reductions that impact on staff morale, and temporarily escalate costs to accommodate a strategically aligned and more cost-effective outcome for the longer term.
RECOGNITION FOR OUR ACHIEVEMENTS
We received a number of industry awards in recognition of our client-centric approach.
Global Finance Magazine 2019
- Safest Bank in Africa
- Best Bank in Africa
- Best Bank in Botswana, South Africa and Uganda
- Best Payments Innovation – VirtualCard
- Most Innovative Bank in Africa
- Best Bank in Botswana, Uganda and Zambia
- Best Foreign Bank in Ghana
- Best Local Bank in South Africa
- Overall Winner – Innovation in Dispute Resolution
- Bank of the Year in Angola, Lesotho, South Africa, Zambia and Zimbabwe
Global Finance Magazine 2019
- Best Investment Bank in Africa, Angola and South Africa
- Best Trade Finance Provider in Angola, Kenya and South Africa
- Best FX Provider in Africa, Kenya, Nigeria and Uganda
- Africa’s Best Investment Bank
- Best Investment Bank in Angola, Malawi, South Africa and Zambia
- Best Investment Bank in Angola, Kenya, Mozambique, Namibia and Uganda
- Best Local Investment Bank in Ghana
- Best Foreign Investment Bank in Ghana and Nigeria
- Best Bond House in Ghana
- Best Debt House in Nigeria
- Best Equity House in Nigeria
- Best Loan House in Nigeria
- Best Cash Management Services – Africa
- Best FX Services – Africa
- Best Trade Finance Services – Africa
- Most Innovative Investment Bank for Equity Raising
- Best Transaction Bank in Africa
Morningstar Awards 2019
- Melville Douglas awarded Best Global Equity Fund in South Africa
- Africa’s Best Bank for Wealth Management
- Excellence in International Private Banking
- Outstanding Global Private Bank – Africa
- Best Next Generation Offering
- Best Private Bank in Kenya and Nigeria
- Best Private Bank for Customer Service in Africa
- Best Private Bank in Wealth and Society – Nigeria
- Best Asset/Fund Management Company in Wealth and Society – Nigeria
- Company of the year
- Best Private Bank in Africa
OUR BUSINESS LINES DELIVER ON THE GROUP STRATEGY ACCORDING TO OUR THREE KEY FOCUS AREAS OF CLIENT CENTRICITY, DIGITISATION AND INTEGRATION.
We are transforming our capabilities in banking and other financial services to ensure a singular focus on our clients: to deeply understand their needs and gain and keep their trust by partnering with them to fulfil their individual and business aspirations.
We enable clients to take control of all their financial needs, including transacting, saving, borrowing or planning by using our products, either through face-to-face interaction or digitally enabled, according to their preference.
Our fit-for-purpose presence in 15 countries across Africa, combined with our committed people and digital platforms, support the banking and other financial services needs of our large, diverse client base of individuals and SMEs in South Africa, Africa Regions and the Channel Islands.
We serve the banking, finance, trading, transactional, investment and advisory needs of a wide range of multinational companies, local and regional businesses, financial institutions, governments and parastatals.
We combine our market knowledge and stakeholder relationships, gained through our on-the-ground presence in 20 sub-Saharan countries, with a deep understanding of our clients’ businesses and sectors to serve their growth strategies. Our footprint, networks and sector diversity enable us to respond appropriately to changes in our operating context by allocating resources to opportunities that drive revenue growth, within the parameters of carefully considered risk-taking. This allows us to support the financial wellbeing of the businesses and institutions that drive real economic activity within and across Africa.
Wealth continues to transform the group’s capabilities in insurance, investments and advisory capabilities into a value proposition that enhances our service offerings to our clients and drives additional share in our target markets.
We are trusted advisors to high net worth, retail, business and commercial, and corporate clients, leveraging the group’s footprint in 15 sub-Saharan African countries, and with an international service offering facilitated through our offices in London, Jersey, Isle of Man and Mauritius.
We are well-entrenched in our markets, and are a leader in Africa, while our generational wealth offering is globally recognised. Our markets outside South Africa now exceed 50% of our headline earnings, and we are scaling and further diversifying our operations to capitalise on significant growth opportunities across our African footprint.
Our strategy, purpose and story have been further refined with clear focus and accountabilities, and are clustered within the framework of ‘Advise, Insure, Invest’.