About Standard Bank
Standard Bank is a financial services powerhouse with deep roots in Africa. Established in 1862, the company boasts a rich history of supporting individuals, businesses, and institutions across the continent. Their core business revolves around providing a comprehensive suite of banking, insurance, and asset management solutions. This allows them to serve a wide range of clientele, from personal account holders to corporations looking for investment opportunities.
Standard Bank goes beyond simply offering these services. They position themselves as a true partner for their clients, leveraging their extensive local knowledge and global reach to navigate the complexities of African markets. By bridging the gap between international capital and African businesses, Standard Bank plays a crucial role in driving growth and development across the continent.
Above and beyond expectations
In 2018, Standard Bank set its sights on becoming the leader in the African vehicle and asset financing market, having identified this as a missing key part from its automotive and commercial value chain. To succeed in this field, the bank decided it needed to invest in wholesale finance and subsequently introduced a dealer floorplan system.
Standard Bank required a system to help its clients grow their businesses across the continent through a flexible way of financing their assets. This had to span across the entire automotive and commercial ecosystem to fulfill its vision of offering automotive manufacturers, distributors and their dealer networks a single partner, providing comprehensive vehicle and asset finance capabilities across the African continent.
“We selected Apak Group because of its proven track record of delivery over the past 40 years, which has largely contributed to its status as a global leader in Wholesale SaaS solutions. As well as Apak’s global footprint, its extensive market knowledge and expertise within the South African region was very appealing, and the flexibility offered by the WFS platform allowed for a quick delivery, which met, and exceeded, the core requirements needed for the project to be delivered successfully.”
Dean Morsner, Head of Wholesale Finance IT at Standard Bank South Africa
