Case Study: Standard Bank achieves rapid Shyft launch and $170M+ in FX and cross-border payments with Currencycloud

Supporting Standard Bank’s gear Shyft to launch digital banking app

Standard Bank, the largest African banking group, needed a faster, more convenient way for customers to manage forex and move money cross-border while responding to fast-growing fintech competition. To launch its digital banking app Shyft quickly and cost‑effectively, Standard Bank partnered with Currencycloud and leveraged Currencycloud’s payment platform, APIs and Currencycloud Account capabilities (holding EUR, USD, GBP and AUD and access to local payment schemes).

Currencycloud delivered a cloud‑based payments infrastructure that enabled Shyft’s beta in under three months and rapid roll‑out on AWS, improving speed to market, reducing costs and increasing operational efficiency. The results include over US$100m in foreign exchange purchases, more than US$70m in processed cross‑currency payments, nearly 10,000 virtual and physical cards deployed and 24,000+ users, and Standard Bank and Currencycloud are now exploring further feature and market expansion.

Standard Bank

Arno von Helden

Executive Head Forex Solutions