Investec, a leading South African financial services company, has launched Programmable Banking, a digital-led innovation that allows clients to code their own bank experience. This new service is available to both business and private banking clients, offering them access to their banking and transactional data and the power to craft individualised banking services. Programmable Banking is a first-of-its-kind service in the local industry and offers clients more control over their banking experience.
Through the Integrated Development Environment (IDE) on Investec Online, clients can deploy JavaScript code rules which execute before and after every card transaction. This feature allows clients to limit their fast-food spend, track their coffee intake on the fly or mitigate their company’s risk by limiting the merchants where their card will work. Programmable Banking is a significant step towards digital-led innovation, providing clients with greater control and flexibility over their banking experience.
Investec’s Programmable Banking is a game-changer for the banking industry, providing clients with the ability to customise their banking experience in the digital era. With this new service, Investec is leading the way in digital innovation, providing clients with greater control and flexibility over their banking experience. The launch of Programmable Banking is a clear indication of Investec’s commitment to meeting the changing needs of its clients in the digital age.
Understanding Programmable Banking
Investec’s Programmable Banking is a unique offering that allows clients to create customised digital experiences for their banking services. Programmable banking is a concept that enables banking clients to code their own banking experience by creating code that runs before or after each transaction. This feature is available for both business and private banking clients.
Investec’s Programmable Banking is a part of the broader fintech trend of open banking and APIs. It allows clients access to banking and transactional data, which can be used to craft individualised digital experiences. By opening up their API, Investec is enabling software developers to create innovative solutions that improve the banking experience for their clients.
Programmable banking has the potential to revolutionise the financial services industry. It allows banks to offer personalised banking experiences that meet the unique needs of their clients. This feature can help banks stay competitive in an increasingly crowded market by offering a unique value proposition.
Investec’s Programmable Banking is an example of how fintech is changing the face of finance. By offering clients the ability to customise their banking experience, Investec is demonstrating its commitment to innovation and customer-centricity. The future of banking is likely to be shaped by the continued development of open APIs and programmable banking.
In conclusion, Investec’s Programmable Banking is a unique offering that allows clients to create customised digital experiences for their banking services. It is an example of how fintech is changing the face of finance and has the potential to revolutionise the financial services industry. By opening up their API, Investec is enabling software developers to create innovative solutions that improve the banking experience for their clients.
Key Features of Investec Programmable Banking
Investec Programmable Banking offers a range of innovative features to its business and private banking clients. Here are some of the key features that make it stand out:
API Access
Investec Programmable Banking allows clients to access their banking and transactional data through an API. This means that clients can integrate their banking data into other software applications and create customised banking solutions that suit their specific needs.
Real-time Notifications
Clients can receive real-time notifications for specific transactions or events, such as when a payment is made or when a linked Visa card is used. This allows clients to stay on top of their finances and take action when necessary.
Individualised Banking Services
Investec Programmable Banking allows clients to craft individualised banking services that suit their specific needs. Clients can customise payment limits, set up bespoke notifications, and create transaction rules that apply to specific transactions.
Programmable Card Account
Investec Programmable Banking offers a programmable card account that allows clients to create customised payment limits for their linked Visa cards. Clients can set limits for specific merchants or categories of transactions, helping them stay in control of their spending.
Collaborative Development
Investec Programmable Banking is built in collaboration with OfferZen, a developer community that aims to create opportunities for IT professionals and software developers. This means that Investec is committed to encouraging the growth of software developer skills and taking technology in business banking to a whole new level.
Investec Programmable Banking is a cutting-edge banking solution that offers a range of features designed to help clients stay in control of their finances and create customised banking solutions that suit their specific needs.
Devina Maharaj
Devina Maharaj is the Program Head of Investec Business Online and API Banking SA, and she played a significant role in the development and implementation of Investec Programmable Banking. With her extensive experience in the banking industry, Devina has been instrumental in driving digital-led innovation and offering out-of-the-ordinary experiences to Investec’s business and private banking clients.
Devina joined Investec in 2002 as an Operational Risk Consultant after completing her accounting degree at the University of KwaZulu-Natal. She then moved to the Investec Digital team in 2012, where she was responsible for driving digital transformation across the business. With her expertise in digital banking and financial technology, Devina was the perfect fit to lead the Programmable Banking project.
In her role as Program Head, Devina oversees the development and implementation of the Programmable Banking platform, working closely with Investec’s software development team to ensure that the platform meets the needs of the bank’s clients. She is also responsible for driving adoption of the platform among Investec’s business and private banking clients.
Under Devina’s leadership, Investec Programmable Banking has become a game-changer in the banking industry, offering clients the power to craft individualised banking services. With the platform, clients can create customised banking experiences that meet their unique needs, using a range of APIs and other tools. This has helped Investec to stay ahead of the competition and has cemented the bank’s reputation as a leader in digital banking.
Overall, Devina Maharaj’s role in Investec Programmable Banking has been critical to the success of the platform. Her expertise and leadership have helped to drive digital-led innovation at Investec, and her vision for the future of banking has helped to shape the way that Investec serves its clients.
Investec Programmable Banking and Offerzen Collaboration
Investec has collaborated with Offerzen, a developer community, to offer a new level of technology in business banking. This partnership has resulted in Investec Programmable Banking, which allows clients to access their banking and transactional data and craft individualised banking services.
Through this collaboration, Investec has made its Private Bank Accounts programmable, allowing software developers to code their own bank experience. This innovative approach encourages the growth of software developer skills while providing clients with more control over their banking services.
The Offerzen developer community has played a significant role in the development of Investec Programmable Banking. They have worked closely with the Investec team to create new systems and features, such as save/publish code, that allow for more personalised banking experiences.
Offerzen’s community of over 100,000 developers has been instrumental in making open banking a reality in South Africa. They have provided valuable insights and expertise in the development of Investec Programmable Banking.
Investec Programmable Banking is a local industry first, offering business and private banking clients unparalleled access to their banking and transactional data. The collaboration between Investec and Offerzen has resulted in a niche developer banking solution that is built with the community’s needs in mind.
Overall, the Investec Programmable Banking and Offerzen collaboration represents a significant step forward in the development of banking technology in South Africa. By providing clients with more control over their banking services and encouraging the growth of software developer skills, Investec and Offerzen are shaping the future of banking in the country.
Investec Programmable Banking for IT Professionals
Investec Programmable Banking is a personalised offering that allows IT professionals to customise their banking services. This service is available to Investec business and private clients, and it is designed to solve problems and unlock new possibilities for software developers and engineers.
With Investec Programmable Banking, IT professionals can participate in additional benefits and features offered by Investec. This includes the opportunity to integrate and connect with the Investec Programmable Banking developer community in collaboration with Offerzen.
Investec Private Bank Accounts are programmable, which means that IT professionals can code their own bank experience. This is made possible through the collaboration with Offerzen, a niche developer banking community built with the community.
IT professionals can leverage their skills and expertise to create customised banking solutions that meet their specific needs. This includes the ability to automate transactions, track expenses, and manage their finances more efficiently.
Investec Programmable Banking provides IT professionals with a unique opportunity to take control of their banking services and tailor them to their individual needs. With this service, they can unlock new possibilities and achieve their financial goals with greater ease and convenience.
Investec is committed to providing its clients with innovative and personalised banking solutions that meet their evolving needs. With Investec Programmable Banking, IT professionals can enjoy a banking experience that is tailored to their unique requirements and preferences.
Investec Programmable Banking is a new client initiative in South Africa that offers business and private banking clients access to their banking and transactional data. This innovative service allows customers to craft the banking experience they want by creating novel services or improving existing processes.
Through the Integrated Development Environment on Investec Online, clients can deploy JavaScript code rules which execute before and after every card transaction. This allows them to limit their fast-food spending, track their coffee intake on the fly, or mitigate their company’s risk by limiting the merchants where their card will work.
Investec Programmable Banking is a local industry first, giving clients more control over their banking and transactional data. The ability to access core banking systems allows customers to customize their banking experience, making it more personalized and efficient.
This new service is a part of Investec’s commitment to providing innovative and cutting-edge financial solutions to its clients. With Programmable Banking, Investec is at the forefront of the financial services industry in South Africa.
In conclusion, Investec Programmable Banking is an innovative service that provides clients with more control over their banking and transactional data. Through the use of JavaScript code rules, clients can customize their banking experience, making it more efficient and personalized. Investec is committed to providing innovative financial solutions to its clients and Programmable Banking is a testament to that commitment.
Wealth Management
Investec’s Programmable Banking is a powerful tool for wealth management. It allows clients to monitor their spending and identify areas where they can save money. The solution also enables clients to set up customised alerts and notifications for any transactions that exceed a specified amount. This feature helps clients stay informed about their financial activity and take action when necessary.
For private banking clients, Programmable Banking provides access to a range of exclusive services and benefits. These include personalised investment advice, access to Investec’s global network of experts, and tailored wealth management solutions. Clients can also use the solution to manage their investments and monitor the performance of their portfolio in real-time.
Investec’s Programmable Banking is available to both business and private banking clients. The solution is designed to be easy to use and provides clients with a high level of control over their finances. With Programmable Banking, clients can create customised banking services that meet their unique needs and preferences.
Digital Innovation
Investec Programmable Banking is a game-changer for businesses, as it enables them to craft individualised banking services that meet their specific needs. By accessing core banking systems, businesses can create novel services or improve existing processes, thereby uplifting economies.
Investec Programmable Banking is also beneficial for consumers, as it allows them to limit their fast-food spend, track their coffee intake on the fly, or mitigate their company’s risk by limiting the merchants where their card will work.
Investec’s Programmable Banking is a clear example of how digital-led innovation is transforming the banking industry. By providing clients with the power to customise their banking experience, Investec is setting a new standard for customer service and satisfaction.
Overall, Investec Programmable Banking is a positive development that is likely to have a significant impact on the financial services industry. It is a clear indication that banks are embracing digital transformation and are willing to invest in technologies that make banking more accessible, convenient, and secure.
Financial Services Sector
Investec’s Programmable Banking is a significant step forward in the finance sector, as it is designed to provide its clients with a more personalised banking experience. This service allows clients to write their own code and create customised banking solutions that meet their unique needs. Programmable Banking is a clear indication of the technological advancements that are being made in the financial services sector.
Investec’s Programmable Banking is a game-changer in the financial services sector, as it provides a new level of customisation and flexibility to its clients. This service is an excellent example of how technology can be used to enhance the customer experience and streamline banking processes.
Investec’s Programmable Banking is a significant development in the financial services sector, as it provides clients with a more personalised and customisable banking experience. This service is a clear indication of the technological advancements that are being made in the financial services sector, and it is a testament to Investec’s commitment to innovation and customer-centric solutions.
Personal Finance
This level of personalisation and control is unprecedented in the banking industry, and Investec is leading the way with this innovative new service. Customers can now save money and take charge of their finances in a way that was never before possible.
Investec Programmable Banking is particularly useful for those who are looking to save money on their daily expenses. By setting limits on fast-food spend and tracking their coffee intake, customers can identify areas where they are overspending and make adjustments accordingly. This level of insight is invaluable for those who are looking to save money and live within their means.
Investec Programmable Banking is also an excellent tool for businesses looking to manage risk. By limiting the merchants where their card will work, businesses can reduce the risk of fraud and unauthorised transactions. This level of control is particularly important for businesses that deal with large sums of money and need to ensure that their finances are secure.
Overall, Investec Programmable Banking is a game-changer in the world of personal finance. With its innovative features and unparalleled level of control, customers can now take charge of their finances in a way that was never before possible.
Business Accounts
Investec’s business accounts are tailored to meet the specific needs of different businesses, whether they are self-employed, small or medium enterprises, professional practices, or multifaceted businesses. The business account solutions are personalised to meet the business requirements of each client.
Investec’s Programmable Banking feature can be used to enhance the business experience for clients. For example, a client can use the feature to create customised rules that prevent employees from making unauthorised purchases, or to receive real-time notifications when a transaction is made on their account.
In collaboration with the OfferZen community, Investec has also made its private bank accounts programmable, allowing software developers to code their own bank experience. This niche developer banking is built with the community, providing a unique opportunity for developers to create customised banking solutions that meet their specific needs.
Overall, Investec’s Programmable Banking and business accounts provide clients with more control and flexibility over their banking experience. By tailoring banking solutions to meet the unique needs of different businesses, Investec has established itself as a leader in providing innovative and personalised banking services.
Internal Systems Integration
Investec Programmable Banking offers a unique opportunity for businesses and private banking clients to personalize their banking experience by leveraging their own programming skills. In addition to this, Investec Programmable Banking also allows for seamless integration with internal systems, including accounting systems such as Xero, messaging apps like WhatsApp, email, and Slack.
By integrating with internal systems, Investec Programmable Banking enables businesses to streamline their banking processes and save time. For example, businesses can set up automated notifications to alert them when a payment is received or when a transaction exceeds a certain amount. This can be achieved by integrating with messaging apps like WhatsApp or Slack.
Investec Programmable Banking also allows for integration with accounting systems like Xero. This means that businesses can easily reconcile their bank transactions with their accounting records, eliminating the need for manual data entry and reducing the risk of errors.
Furthermore, Investec Programmable Banking allows for the creation of custom rules that can be applied to transactions. For example, businesses can set up rules to automatically categorize transactions and apply specific tax codes. This can be particularly useful for businesses that deal with a large volume of transactions.
Overall, Investec Programmable Banking and internal systems integration provide businesses with greater control over their banking processes and can help to streamline operations. By leveraging the power of programming and integrating with internal systems, businesses can save time, reduce the risk of errors, and improve their overall efficiency.
Visa Card
Investec has introduced a new banking experience for its clients with the launch of its Programmable Banking service. The service allows Investec’s private banking and business clients to create customised banking experiences using code that runs before or after each transaction.
The Programmable Banking service is available for Investec’s Visa cardholders. The Visa card is a credit card with full transactional functionality, allowing clients to make purchases, withdraw cash, and transfer funds. With the Programmable Banking service, clients can use code to set up rules that determine how their card works.
For example, a client could create a rule that rounds up each transaction to the nearest pound and transfers the difference to a savings account. Another client could set up a rule that blocks transactions from certain merchants or countries. The possibilities are endless, and clients can create rules that suit their specific needs and preferences.
Investec has partnered with OfferZen to make its Private Bank Accounts programmable. OfferZen is a platform that connects software developers with companies looking to hire them. This partnership allows developers to use their skills to create customised banking experiences for Investec’s clients.
Overall, Investec’s Programmable Banking service offers a unique and customisable banking experience for its clients. With the ability to create customised rules using code, clients can tailor their banking experience to suit their specific needs and preferences.
Sage
One of the most significant benefits of this service is the ability to integrate with Sage One accounting software. This integration makes it easier for businesses to manage their finances and streamline their accounting processes.
By integrating Investec Programmable Banking with Sage One, businesses can enjoy a range of benefits, including:
- Accurate and up-to-date financial information: With automatic syncing of transactions from Investec to Sage One, businesses can ensure that their financial information is always accurate and up-to-date.
- Streamlined accounting processes: By eliminating the need for manual data entry, businesses can reduce the risk of errors and save time on accounting tasks.
- Better financial management: With real-time access to financial data, businesses can make better-informed decisions and manage their finances more effectively.
Overall, the integration of Investec Programmable Banking with Sage One provides businesses with a powerful tool for managing their finances and streamlining their accounting processes.
Frequently Asked Questions
What are the benefits of using Investec’s programmable banking services?
Investec’s programmable banking services offer clients access to their banking and transactional data, as well as the ability to create personalised banking services. This allows for greater control and flexibility in managing finances, and enables clients to build innovative solutions that meet their unique needs.
How can I open a new account with Investec?
To open a new account with Investec, clients can visit their website or contact their customer service team for assistance. The process typically involves providing personal and financial information, as well as meeting certain eligibility requirements.
What are the requirements for qualifying for Investec’s private banking services?
To qualify for Investec’s private banking services, clients typically need to meet certain financial criteria, such as having a high net worth or significant investment portfolio. Other factors, such as credit history and financial stability, may also be considered.
What is the Investec Platinum card and what are the requirements for obtaining one?
The Investec Platinum card is a premium credit card offered by Investec. It offers a range of benefits, including travel insurance, airport lounge access, and cashback rewards. To obtain an Investec Platinum card, clients typically need to meet certain eligibility requirements, such as having a high credit score and income.
Who owns Investec Bank plc?
Investec Bank plc is owned by Investec Group, a global financial services company based in South Africa. The company operates in a range of markets, including the UK, Australia, and the US.
What is the Investec Enigma and how does it relate to programmable banking?
The Investec Enigma is a secure messaging platform used by Investec’s private banking clients. It allows clients to communicate with their relationship managers and access their account information in a secure and convenient manner. While not directly related to programmable banking, the Enigma platform is part of Investec’s broader suite of digital services aimed at enhancing the client experience.