Standard Bank Namibia has opened its first in-store banking branches in the country that will operate outside normal working hours as the financial institution seeks to offer convenience to customers.
Standard Bank Acting Head of Consumer and High Net Worth (CHNW), Karen van der Merwe, said the listed banking concern will initially operate two in-store branches and only expand the service in line with demand.
“With the in-store branches, we are aiming to broaden access to banking and creating convenience for our customers who would otherwise find it difficult to visit a normal branch during a normal working day. The in-store branches offer great convenience as they enable customers to do banking while they shop. The added benefit is that they are open longer than the normal branches,” Van der Merwe said.
“Our solution is to tailor banking solutions to suit our customers’ needs and to make these accessible or reachable in ways that are convenient for them. These in-store branches are the latest of many innovations that we have introduced over the past couple of years as we continue to put the customer at the centre of everything we do.”
The instore branches will offer services like opening accounts, changing banking limits, changing PINs and getting bank confirmation letters among other services.
The launch of the Namibia in-store branches came as Standard Bank South Africa in July partnered with Pick n Pay to open branches within retail stores.
Standard Bank and other incumbents in South Africa are seeking to improve distribution and lower the cost of their services in the face of increased competition from new entrants including Tyme Bank, Discovery Bank and Bank Zero.
