Standard Bank Launches New Innovation Lab

Standard Bank has launched its innovation lab, “the PlayRoom”, targeting start up businesses. The move is in line with their strategy as a customer-centric and innovative institution. Situated in Rosebank Johannesburg, the PlayRoom is a 1,927square meter creative hub.

This will enable the bank to research and test in a controlled environment before releasing new solutions into the market. The head of innovation and channel design at Standard Bank, Mr. Vuyo Mpako said it’s the biggest step they have taken to be closer to their customers. “The vision is that the PlayRoom will form an integral part of our ongoing efforts to find innovative solutions that solve real customer needs and challenges.

In 2014, Standard Bank launched SnapScan and partnered with MasterCard to bring MasterPass to the South African market. The PlayRoom has already been put to test with Standard Bank’s new generation Internet Banking Site, launching soon. “The concept, redesign, beta testing and extensive group testing sessions all took place at the PlayRoom”, the bank said.

“The center will be at the forefront of solutions testing to make the customers banking experience simpler and more seamless. The ultimate aim will be enabling convenient, 24hour banking from any location” Mpako said.