IT, main driver of Stanbic Bank operations
In its quest to ensure full compliance of banking ethics and ensure full compliance Stanbic Bank, has and continues to ensure the training of its staff while building a compliance culture in the bank.
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It also noted that information technology drives more than 90 per cent of the bank’s operations and products because “Technology has revolutionized banking.”
The IT systems are robust and assure a high level of reliability in the day to day operations of the bank. Information Technology has represented a turn around change in the banking culture among staff and customers in doing things in new ways.
The bank also prides in the fact that IT has also enabled the bank’s customers to benefit from its array of products especially in the provision of service like online banking, Internet banking among others, through the acquisition of programmes and websites.
Payments platforms such as nBOL enabled multi-national corporate to have a view of their transaction across the world.
Information technology as has been mentioned, is an essential basis for planning, organizing, managing administering and controlling the key operations and activities within the bank.
IT enables messaging through; e-mails, Blackberry, telephony, video conference facility, PC to PC meeting and conference calls.
The e-banking platform has enabled products such as internet banking, ATM, Mobile Banking and Top-Ups
The IT platform has enabled the bank to join the National payment switch, national clearing systems, and the e-zwitch platforms of the central bank.
Information technology provides capacity to generate process and manipulate masses of continuous information quickly and economically to ensure that it can be accessed rapidly.
MIS and Archiving systems also provide a repository for quick information for management decisions and reporting.
There is also an IT Disaster recovery site and plan in place which assures the bank of continuity in the event of a disaster at its primary site.
It offers convenience to customers as they are not required to go to the bank's premises. There is very low incidence of errors.
The bank ensures that its customers can obtain funds at any time from ATM machines. The debit cards enable the Customers to obtain discounts from retail outlets.
Also, the customer can easily transfer the funds from one place to another place electronically. Customers can check their bank balances at any time. Customers get alerts on transaction hitting their accounts.
E-mails and Blackberry platforms enable customers to interact with bank staff at any time.
According to the bank, it performed quite creditably in the year under review. “Thus we expect to be ranked as overall best seeing where we are coming from and especially with regard to our current position in the market and how we are driving the growth in our books”.
Over the years the bank has not been convinced of how the awards were run. When the categories were mentioned the guidelines and parameters were never clear.
However, moving forward competitors must be made aware of what they are competing for with universal, clear and acceptable criteria. This would bring much credibility to the awards.
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