In this podcast episode, “How to build a FinTech within a Bank”, Darren Franks chats with Arno Von Helden, Co-Founder and Head of Shyft.
Shyft, a FinTech within Standard Bank in South Africa, aims to simplify foreign exchange transactions and provide access to international financial services.
Digital Wallets Equals Convenience
Shyft allows customers to buy and hold foreign exchange in a digital wallet, providing a convenient and user-friendly experience.
The platform focuses on serving individuals who need to connect financially with the rest of the world, offering services such as sending money offshore, receiving funds from offshore, and investing in international stocks.
A FinTech Backed by a Bank
While Shyft is backed by Standard Bank, it operates as a separate fintech entity.
Trust is a key advantage of being associated with a renowned bank like Standard Bank, but Shyft also emphasizes its own brand and accessibility, serving any individual in the market regardless of their banking affiliation.
Prioritizing Customer Education
Shyft is currently prioritizing customer education and partnerships with experts to provide insights and guidance on investment strategies and offerings, targeting both higher net-worth individuals and emerging youth segments.
Shyft simplifies foreign exchange and international financial services through a digital wallet. They target individuals needing global financial connections, emphasizing accessibility regardless of banking affiliation. Backed by Standard Bank’s trust, Shyft maintains its distinct identity.
Their dedication to customer education and expert partnerships demonstrates a commitment to empowering high-net-worth individuals and emerging youth segments. Shyft represents the harmonious merger of innovation, accessibility, and trust in the evolving FinTech landscape. It signifies a partnership between traditional banking and FinTech, simplifying complexity and expanding financial horizons for all
