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 | Standard Bank wins International Award for Instant Debit Card Pack |  |  |
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4 June 2001
Standard Bank is changing the way it distributes its debit card to customers. This has greatly improved the customer experience, saved substantial costs and has won the bank a significant international award.
Standard Bank's instant debit card issue pack was selected as the winner of the prestigious Customer Facing Project of the Year for the Financial Times' Annual Banker Awards. Standard Bank received the award based on the high level of innovation in the customer experience reducing the time to receive the Debit Card.
A meaningful by-product of the bank's debit card re-engineering project was making transactional banking easier for customers and meeting a crucial requirement of the Finance Sector Charter: making banking and banking products more user friendly and accessible to the previously unbanked.
"Technologies of encryption, data transfer and end-to-end card encoding processes were revised to accommodate the new way that we distribute Debit Cards to customers," explained Peter Schlebusch, Deputy CEO, Personal and Business Banking at Standard Bank South Africa
"The manner in which the customer now receives his debit card has been designed to eliminate the inefficiencies in the previous model. The new process now enables a customer to obtain a complete debit card pack without the need for any additional processes relating to pin issues".
Schlebusch said that while Standard Bank was honoured to receive the award, it derived even greater satisfaction from the knowledge that its new instant debit card system was benefiting thousands of customers across South Africa on a daily basis.
The customer now receives a debit card pack which comprises a pre-encoded debit card, a stop card, a PIN under a secured peel label, a reference number and a mailer/carrier that contains pre-printed terms and conditions and promotional material.
"Greatly reduced customer waiting times are one of the major benefits of the new debit card issuing pack. The customer benefits are realised in improved customer experiences whereby greater customer attention can be given by account opening consultants on the customers needs without the hassle of attending to technical details," added Schlebusch.
Apart from the significant cost savings the project has delivered to the bank, it has also resulted in:
- Greater efficiencies - improved quality of encoded debit cards, reduced customer waiting times, and elimination of PIN issues.
- Greater cross sell opportunities - more time for cross-selling other products and expanded capabilities for mobile selling.
- Account opening - enables accounts to be opened more quickly.
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