Customer Story

Standard Bank Mozambique

Lasernet helps Standard Bank Mozambique become more efficient and cost-effective by switching from paper-based to electronic statement delivery.
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Standard Bank Customer Card

"Standard Bank were able to achieve exceptional results, converting nearly 80% of their customer base to electronic statement delivery."


Industry
Retail Banking, Commercial Banking, Corporate Banking

Location
Maputo, Mozambique

Standard Bank Mozambique goes digital with lasernet

Standard Bank Mozambique is part of the largest African banking group with total assets of USD 183 billion, employing over 50,000 people and operating in 17 high-growth markets in Africa and 16 emerging markets worldwide.

As part of a company wide initiative, Standard Bank Mozambique took the decision to move away from their paper based system to a highly efficient and cost effective online banking solution with the help of Lasernet.

Utilising Lasernet, Standard Bank was able to approach three challenges:

  • Move away from paper and labour intensive banking to more efficient online processing.

  • Deliver PDF statements to customers that would be accepted as trusted tax & legal records.

  • Provide a more convenient and timely method of delivering statements to customers.

The first step - switching off paper statements

Standard Bank recognised that one of the most effective cost-cutting exercises would be to encourage customers to accept electronic, rather than printed and posted, statements. Hard copy statements cost hundreds of thousands of dollars to send each year, not to mention the environmental concerns over paper usage.

However, whilst most customers agree in principle to receiving electronic statements, banks worldwide report a high level of customer inertia when it comes to actually making the switch; a factor which Standard Bank were well aware of.

Three people carrying bundles of sticks on a sandy beach near fishing boats.
invoice-duotone

Email statements

Email statement delivery dramatically reduces costs whilst improving customer service
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Automated processing

There is no manual intervention for processing and delivering of the messages to clients
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Smaller queues

With statements no longer collected in-branch, queues have reduced dramatically

How Standard Bank gained customer support to switch to electronic statements

Standard Bank knew that their customers liked paper statements due to the perceived security, legality and legibility it was felt they provided. These critical characteristics would have to be retained if electronic documents were ever going to be seen as equivalent replacements.

By using Temenos Transact with Lasernet, Standard Bank were able to achieve exceptional results, converting nearly 80% of their customer base to electronic statement delivery.

How it works

  • Lasernet creates e-statements as precise PDF replicas of the paper version, including all the bank’s logos, branding and layout. This means that the PDFs qualify as valid tax and legal records.

  • Email delivery can include customers who don’t use the online banking service.

  • E-statements can be augmented with a number of security features: encryption, digital signatures and access passwords making them as secure, if not more secure than posted hard copies.

  • Customers value the convenience associated with email delivery, particularly as Mozambique's limited postal service means that many customers have to collect their statements from their local branch.

Smiling man holding a smartphone and credit card for an online transaction.

Enhancing with Lasernet

Take a closer look at what an important part Lasernet plays in optimising customer communications and enhancing banking operations:

Pre-configured with Temenos Transact and can be set up and running in 5 days.

Lasernet provides additional output management facilities with centralised management for all banking operations. Email delivery is fully automated and is run in parallel to print distribution.

Email delivery can be complemented with self-service download from a secure portal on Standard Bank’s website.

Simple to use document formatting tools. Standard Bank’s own in-house IT team provides ‘first level’ support, reducing the costs and delays associated with referring to external consultants.

Not just restricted to statements. The same Lasernet software is also optimising the generation and e-delivery of SWIFT and 'Letter of Credit' communications as well as credit card statements.

Not just an email solution. Partnered with Lasernet Keep (formerly  Autoform DM), it allows banking staff to instantly retrieve and email statement copies on request.

Accelerate digital banking with secure, automated document delivery

Move away from paper-based processes and deliver compliant, customer-ready documents instantly. See how Lasernet can help you reduce costs, improve efficiency and enhance the customer experience at scale.
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