Published: January 14, 2013
The new offering will allow African expats to invest in their home economies.
Standard Bank has launched its Heartland Banking service in the United Kingdom. The offering will allow Africans living abroad to invest in their home economies, providing a platform for an eventual move home. It is currently operational in Kenya, Ghana and Nigeria.
As well as offering standard remittance transfer services, Heartland Banking allows customers to open savings and current accounts, and take out mortgages in local or foreign currency. Any account opened can also be used by Africa-based family members. The service is believed to be the first of its kind.