Standard Bank has officially launched its OneHub platform – an online marketplace that gives corporates access to a range of digital solutions.
“OneHub is a single point of entry for Standard Bank’s corporate clients and partner organisations to connect and interact,” says Jonathan Lamb, Head of Platform Businesses at Standard Bank.
“The platform allows clients to discover and procure digital tools and services developed by the bank and its trusted network of partners.”
The platform is essentially a digital solutions marketplace that offers both web applications and application programming interfaces (APIs), which corporate clients can leverage to enhance efficiencies and streamline their own processes.
In early May, New York-headquartered Global Finance recognised OneHub as one of 10 ‘outstanding innovations in corporate finance’ as part of its annual ‘The Innovators’ programme.
Through OneHub, clients can access solutions from Standard Bank’s trusted technology partners, and new capabilities can be co-created with developers to address specific client needs. As it grows, the OneHub ecosystem will give clients access to an expanding range of service providers and capabilities. One of the solutions already on the platform – which is essentially a mall for digital solutions – is aimed at making the account-opening and KYC review process entirely digital and more efficient for businesses.
Corporates and Partners will also gain access to the OneDeveloper solution, which offers an API sandbox for the developer community, through this capability APIs can be discovered and securely accessed to build new solutions to complex business to business problems.
“By assisting corporates with their digital transformations, OneHub is aligned to Standard Bank’s strategy to develop ecosystems of partner organisations in order to satisfy a range of client needs, including non-financial needs. Over time, our ambition is for OneHub to become the go-to platform for business-to-business (B2B) solutions and APIs on the continent,” Lamb says.
The OneHub offering is part of Standard Bank Group’s efforts to accelerate the execution of its strategy to become future-ready.
The group is transforming itself into a client-centred platform business that delivers an expanded range of individualised, instantly available solutions and opportunities to its customers, often in collaboration with partner organisations that participate in its ecosystems.
Rather than being a ‘shop’ for financial services, Standard Bank Group is positioning itself as a ‘mall’ owner.
In this model, the group will increasingly provide its own products and services via its shop, while its partners will distribute their offerings through their outlets in the mall.