The Standard Bank of South Africa (Standard Bank), in partnership with MTN Swaziland, a mobile telecommunications firm and subsidiary of the MTN Group, has rolled out a new banking product, Standard Bank Mobile Banking.

The Standard Bank Mobile Banking is a self service channel that allows customers to make self fund transfers, check account balances and send airtime to their mobile phones.

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The service is compatible with any model or type of phone, claims the lender.

Speaking at the product launch ceremony, Standard Bank CEO Phil Mnisi said mobile banking was essentially banking through the mobile phone.

"This channel moves with you 24/7- 365 days and is fast, easy and reliable. It is also worth mentioning that as we are launching mobile banking at this moment, there is a team working on enhancements that will introduce additional functions such as pre-paid electricity and other bill payments," Mnisi added.

MTN Swaziland CEO Ambrose Dlamini said the product introduction was a huge achievement for Swaziland and confirms the company’s continued efforts in ensuring that customers access and use products and services of the same standards with regional, continental and international markets.

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"The appetite for Information, Communications and Telecommunication (ICT) solutions that are relevant and more effective is growing among industries, including the banking sector, and it is for this reason that we are launching the cellphone banking solution for Standard Bank Swaziland," Dlamini added.