Standard Bank’s OneHub is billed as a digital marketplace for corporates

In recent years we have seen a number of financial institutions launch one-stop shops for customers to access digital tools and services, with the latest now being Standard Bank with OneHub.

Aimed specifically at corporate clients, Standard Bank explains OneHub as being a digital solutions marketplace where web-based applications and APIs can be easily accessed and implemented.

“OneHub is a single point of entry for Standard Bank’s corporate clients and partner organisations to connect and interact. The platform allows clients to discover and procure digital tools and services developed by the bank and its trusted network of partners,” notes Jonathan Lamb, head of Platform Businesses at Standard Bank.

This is not the first time that OneHub has seen the light of day, as it was recognised in May New York-headquartered Global Finance as one of 10 “outstanding innovations in corporate finance” as part of its annual Innovators programme.

Now that functionality will be made available to the financial institution’s corporate clients. There are also plans to expand the range of offerings and service providers on the platform.

“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,” highlights Standard Bank.

“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,” adds Lamb.

With Nedbank offering something quite similar to its customers in the form of the Avo platform launched last year, it will be interesting to see how this digital marketplaces evolve and how many more local institutions go the same route.

To see some of the features that OneHub delivers, hit play on the video after the break.

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