Standard Bank's forex wallet app wins at Efma

Standard Banks' new foreign exchange mobile wallet, 'Shyft'-ing money was awarded a Bronze international award in the Most Disruptive Innovation category, at the 2016 Efma-Accenture Distribution & Marketing Innovation Awards held in Barcelona this week.

Through the app, customers can buy a number of different currencies at a live rate, store the funds in eWallets and then make purchases using either the physical or virtual cards capability, or make international transfers using the cross border payments capability.

Shyft is not just the digitisation of forex; it also provides an element of control over when and where an individual buys foreign exchange.