Mercantile Bank has introduced a new online banking platform which it says will bring more convenience to the way entrepreneurs bank online.
The bank says the new online banking platform ensures secure access to the system via unstructured supplementary service data (USSD) technology which makes use of a cellphone number for authentication of identity, instead of digipasses.
"In engaging with entrepreneurs to find out what they need from an online banking experience, security was a key concern. Entrepreneurs work hard to build their businesses; loss of money through cyber crime would be devastating, says Karl Kumbier, chief executive officer at Mercantile Bank.
"That's why we have done away with the old system of using digipasses, and replaced it with USSD technology."
The platform also gives clients the convenience of being able to make payments directly to The South African Revenue Service (Sars) via Sars e-Filing, it adds.
Entrepreneurs have demanding schedules and the growth of their businesses is a lifelong project and a top priority, says Kumbier. "The right technology can help ensure that they are able to spend more time on those things that are key to their business success."
According to Kumbier, one of the most useful tools you can give an entrepreneur is a mechanism that saves them time. "Entrepreneurs are jugglers, with multiple demands on their attention, so ease-of-use and speed is paramount."
Kumbier notes Mercantile's new Internet banking platform is designed to be simpler and more intuitive, backed by new improved functionality.
Users can now transfer funds to and from their credit cards on their online banking profile and the batch payment function has been improved and simplified.
"These are just some of the features of the new platform. We have made several other tweaks and upgrades to the overall online client experience.
Our sole purpose is to grow entrepreneurs, so we continue to keep our ear to the ground to stay on top of what more we can do to improve the way entrepreneurs do banking."
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