Stanbic IBTC’s Instant Account Opening Service In Open Beta

Stanbic IBTC announced last night that its instant account opening service is now in open beta. This is coming after Wema’s ALAT recently went into beta, and has been drawing positive reactions from first-time users, despite the occasional bug. Going by a basic understanding of cause and effect in competitive spaces, one thing seems inevitable from here on out: the mad rush by every other bank’s Product Head to rally a competent team and get its own ‘ALAT’ out, at which point it becomes less of a race for innovation and more of a tightly contested catch-up battle.

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