Standard Bank Plc upscales digital banking: Introduces Business Online Platform (BOL) to mobile wallets

As a way of enhancing digital banking, Standard Bank has introduced Business Online Platform (BOL) to mobile wallets.

Speaking during the launch of the platform in Lilongwe on Friday evening, the bank’s Head of Corporate and Investment Banking, Frank Chantaya said the integration aims to provide convenience and ease of payments for corporate customers.

“The integration features of the bank’s BOL have been designed to deepen financial inclusion and break barriers in accessing financial services by unbanked communities and others that do business with Standard Bank’s corporate clients,” he said.

Chantaya said the platform will enable customers to make payments directly to TNM Mpamba or Airtel Money from their corporate account.

He said: ” This means that the platform has now become a fundamental tool that will help our corporate customers conveniently perform various payments such as disbursing funds to social cash transfer beneficiaries, disburse allowances, wages and pay individuals in a hard to reach areas.”

One of the customers of the bank, Chigomezgo Ndlovu who works as a Head of Finance at Plan Malawi International said the platform is a great solution that gives them power to push to e-wallets for the beneficiaries.

“This is a great achievement and success for the bank,” he said.

Ndlovu said as an organization working with the rural communities it is a great advantage that makes easy to transact for different activities.

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