Stanbic Bank ponders the future of Foreign Exchange in a Digital World
The 4th Industrial Revolution is here and the Fintech environment is also gearing to meet the disruptions that the 4IR brings along. Most financial institutions in Botswana are alive to the fact that if they don’t change and move with the times, they will stand to lose as clients pack their bags and move to tech savvy institutions.
Stanbic Bank Botswana recently held a Global Markets Breakfast session at Masa Square Hotel, with a theme that was hinged on technology in the financial space. The engagement offered critical knowledge exchange and excellent networking opportunities between clients, investors, operators and suppliers accessing domestic, regional and international market.
Speaking at the session, Keynote speaker, Standard Bank Group Head of Foreign Exchange, Richard De Roos said, “Digitisation is shaping the present and future of economic activities as it brings about higher productivity, efficiencies and quicker inclusion of lagging economic and social groups. The Digitisation of business services has seen us as Stanbic Bank Botswana and Standard Bank Group, roll out Real Time banking on a number of platforms, including eMarket Trader and Business Online (BOL). This has allowed our clients to always remain confident in the fact that we deliver heritage and experience, matched with nuanced and innovative solutions that add true meaning and value to their businesses.
The engagement was yet another example of how the Bank continues to live its purpose, Botswana is our home, we drive her growth. Through such initiatives the Bank hopes to further engage with Batswana and impart valuable knowledge as they reaffirm their responsibility to extend themselves as a financial partner beyond just banking. They do this by adding value, providing exposure, information and their expertise to their clients to foster an environment that facilitates their growth and success.
E-commerce, mobile and digital solutions are contributing to facilitating greater financial inclusion while other digital applications are being leveraged to promote entrepreneurship. This includes the empowerment of women as entrepreneurs, and digital solutions which are sought to improve access to learning resources in an easier and less expensive way.
Also speaking at the event, Stanbic Bank Botswana Head of Global Markets Lesego Osman said,” We seek to constantly be on the pulse for our clients, providing expert advice to manage the complexities, regulations and risks of managing transactions in the a Corporate & Investment Banking ecosystem. Foreign exchange becomes that much simpler with our eMarket Trader. This is just one of a number of solutions we have developed in the Corporate & Investment Banking space to add value and meaning for our clients, because their story is our story.”