Standard Bank launched with stocks for retail investors, before broadening into multi-asset services beyond its initial scope, either directly or through an introducing broker structure. Our partnership has progressed naturally in terms of product, platform and client segment. By partnering with Saxo, it managed to successfully establish and run a new business vertical with only a small team and limited overhead. Standard Bank was able to quickly bring both local and global market access to its local retail and institutional clients. Results: First South African bank to provide an expanded, global product rangeĪfter engaging with us, Standard Bank successfully became the first South African bank to offer an offshore trading and investment platform to its clientele. We lent the bank our go-to-market expertise, sales training, tutorials, and product and marketing libraries, enabling it to master and sell its new offering as efficiently as possible. If Standard Bank had opted to build its own solution, it could have taken upwards of two years for the firm to get to market: our solution enabled them to reduce that to less than six months.īut more importantly, rather than just providing the firm with an off-the-shelf solution, we entered into a collaboration with Standard Bank to create a local solution. Saxo’s open banking solutions provided Standard Bank with the one-stop trading and investment solution it was looking for. Solution: Partner with a leading outsourcing provider If Standard Bank was to offer a new, international product, it would also need to quickly come to terms with how best to distribute the offering. It needed a partner who could provide a true end-to-end solution, to enable more efficient sales and onboarding, and facilitate true global market access. However, due to working restrictions limiting the number of employees a firm can have performing certain tasks, Standard Bank was limited by how many new clients it could onboard. Standard Bank sought to challenge the norm. To invest in offshore markets, South Africans would traditionally have required to go through either a financial advisor or an investment bank. The company already had a dedicated platform for domestic investment and sought to enable its clients to access global capital markets.Ĭhallenge: Overcome bottlenecks and scale
However, it also operates as the country’s largest online stockbroker. Provide offshore investment access to local clientsįollowing South Africa’s 2008 relaxation of its offshore investment restrictions, the Standard Bank of South Africa Limited saw an opportunity to expand its business.Īs South Africa’s largest bank, naturally, traditional banking forms the core of Standard Bank’s business.
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