11 Dec 2022

Stanbic Bank Botswana has  shortened the process of purchasing foreign currencies by introducing the Shyft App. The Shyft App allows users to buy, sell, store forex, managed international payments, make peer to peer payments, and easily transact from their mobile phones.

 Speaking during the App’s launch   in Gaborone on Thursday, Head of Global Marketing, Mr Lebea Sephuma said as technology was advancing at a high pace, they recognised the need to adapt and shift to technological infused solutions to meet the needs of clients.

Mr Sephuma said though COVID-19 has had many adverse effects on businesses and personal lives, it had also led to the inevitable surge in the usage of digital technologies compelling individuals and businesses to shift to technological tractions.

He said this has propelled them to adapt and be agile in their service offering, cognisant of the fact that their customers were technologically savvy.

“Customer centricity is at the centre of what we do at Stanbic Bank, thus we are constantly looking to innovate and refine our services. 

We also do this by offering our clients exceptional services that adds value to their lives and turn their dreams into long lasting realities,” Mr Sephuma said.

He added that the Shyft App had won three ‘New Generation Awards – gold for Best Customer Experience of the year; silver for Most Innovative App Developed by a Corporate; and silver Best Use of Technological innovation at the Finnovex Southern Africa Awards 2022.

He said the awards were further illustrative of the App’s potential and capabilities to connect customers to growing markets and making them active players in the global economic development.

Mr Sephuma reiterated that the App made buying, sending and spending in major currencies easy and instant; a true game changer for users who wants to engage in financial activities at the click of a button.

Meanwhile, Founder and Head of Shyft, Mr Arno – von Helden said if one was to purchase foreign currency, they would likely have experienced the inconvenience that comes with currency fluctuations especially in today’s turbulent landscape.

However, he said Shyft solved this in a number of ways which firstly allowed one to view and compare live exchange rates, so they can buy their currency of choice on the App (currently USD, GBP, EUR and AUD) when it’s a rate favourable to them. Mr von Helden said secondly because Shyft offered forex at the cheapest rate, one enjoyed savings and could get more value for their Pula (BWP).

Thirdly, Shyft allowed one to store forex on the App indefinitely, so one would never be under pressure to utilise the funds, which was a means to protect one against currency fluctuations.

The Shyft App can be accessed through IOS and Google Playstore for android users.  ENDS