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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