Despite the Apple watch not having been officially released in South Africa yet, Standard Bank have already announced that plans to build a banking app for the device are underway. This follows the bank’s recent launch of South Africa’s first biometric-enabled banking app, which gives user access to smartphone banking using Apple’s Touch ID technology.
“We are continuously looking for ways to make our customers’ lives easier and to make banking a seamless part of their daily lives. With our smart watch app we are providing greater choice to customers about how they would like to stay in control of their finances,” said Magnus Taljaard, head of digital customer solutions at Standard Bank.
Benefits of the app
Already on the agenda are smart watch services that will make allowance for share trading clients to track their shares, indices, market activity and their personal portfolios.
“The Share Trading on the Apple Watch and Android Wear smartwatches provides customers with the Share Trading smartphone app to link it to their smartwatch – for both Apple and Android. Customers can view portfolio overviews, and see the latest prices in their favourite indices (watchlists),” said Taljaard.
As with any customer solution, both privacy and security of the consumer are of top priority. The new app will be no different as, “users are able to de-link their Apple Watch from their iPhone, as well as to toggle the Balance Peek feature on or off from the main banking app,” revealed Taljaard.
The app also boasts a Balance Peek function that allows consumers to check their most recent account balances without having to log in to their smartphone apps or make use of internet banking.
“Balance Peek on smart watches is perfect for those moments when you need to quickly and unobtrusively check your balance,” highlighted Taljaard.
The app is free of charge to consumers with the watch.
How do consumers register?
-Ensure you have updated the Standard Bank smartphone app to the latest version.
-Go to the Standard Bank smartphone app and activate the Balance Peek feature.
-Swipe the screen from left to right, or select the menu icon on the top left of the screen.
-Select the ‘Settings’ option.
-Select the ‘Balance Peek’ option.
-Select the account for which you would like to activate Balance Peek.
-Go to the Apple Watch app (this comes standard with the latest iOS version).
-Select ‘Start pairing’ and follow the prompts.
-The Watch app will find all compatible smartphone apps (those apps that can be used on an Apple Watch).
-You can choose to install all available apps immediately, or choose to install them later.
-If you choose ‘later’ you can revisit the Apple Watch app from your smartphone, at any stage, and install the apps to your watch.
“As more users start embracing smart watches and other forms of wearable personal technology, Standard Bank will continue to work with customers to understand their requirements and develop a roadmap of banking features for wearables,” noted Taljaard.