Cross Border Letter Requests via the SBG Mobile SmartPhone app Standard Bank
Digital request for cross border letter requests using our Mobile Banking platform
Launch date: 2016
Keywords: Operational Excellence/Cost Efficiency
Concept and objectives: Enabling Standard Bank Vehicle and Asset (SBVAF) customers to request cross border letter on financed vehicles via a safe, secure and digital platform. Enabling a request process that is easy, convenient, paperless and allows for great customer experience. Customer validation is performed via the app, as the customer logs on via a secure environment. Therefore, the customer does not have to provide the Bank with a copy of their ID or drivers’ licence. The only supporting document required from the customer is proof of insurance, which the customer can email to a dedicated cross border letter request mailbox. Customers’ expectations are managed as they know upfront what documents are required and how long it will take to obtain their cross border letter.
Reasons behind: The current cross border letter request process is paper based and requires the requestor to capture information the bank already possess, i.e. customer and asset information. Customers found the process time consuming and unsure of what is expected from them to obtain their cross border letter.
State of competition: Launched to the market on 8 June 2016
Sources of inspiration: SBVAF customer insights derived from customer conversations on what matters to customers when travelling with their financed vehicle across South Africa’s (SA) borders.
Departments involved: PBB Retail Strategy Enablement, VAF Retail Product, Digital Banking: SBG Mobile
Main results so far: Total number of requests from launch to 31 August 2016 = 143. Key note – 36% of the requests were made during the June/July winter school holiday.