Standard Bank has officially begun constructing in-store branches in select Pick n Pay stores in South Africa as part of a new partnership between the two companies. Pick n Pay said that the branches will initially only be available in select stores across the Western Cape and Gauteng provinces.
A variety of banking services will be offered including assistance required with PINs, bank confirmation letters, account activations, debit order disputes, and limits management amongst others.
The in-store branches will also provide space for consultations, as well as a private area behind a slatted screen for in-depth consultations with customers. These branches will be manned by Standard Bank staff.
Standard Bank has already opened the first in-house 6m² branch at Pick n Pay’s Richmond store in the Western Cape.
Customers will now be able to enjoy the benefit of services beyond traditional banking hours with Standard Bank in-store branches operating according to Pick n Pay’s trading hours, which are usually considerably longer.
“Extending our service offering beyond traditional retail products and services is an opportunity we identified and acted on long before most others within the industry did, said John Bradshaw, head of omnichannel at Pick n Pay.
“Customers are increasingly looking for accessibility and convenience, and we have worked hard to innovate in answer to this need”.
Standard Bank said that the move into Pick n Pay stores is part of its commitment – ensuring that all South Africans have access to quality financial services and to conveniently bank where they shop.
“Our philosophy is to create banking solutions that reach clients in the way that works for them,” says Funeka Montjane chief executive of consumer and High Net Worth Clients at Standard Bank Group.
Montjane says the in-store branches allow the bank to access a wider range of clients who are able to access banking services where it is more convenient and accessible for them.
“Branches have undergone a major shift in form and function over the last decade.
“This allows Standard Bank to increase its footprint while still offering the human touch. In the digital age, there is still a real need for face-to-face banking. Here we are making it easier, convenient, and bringing a branch to where our clients are,” said Montjane.