Recent persistent power cuts in South Africa have seen many households and businesses turn to alternate energy sources, including solar energy, as a means of power continuity.
Data gleaned from Standard Bank’s Escrow platform has seen an increase in renewable energy transactions. The bank’s digital escrow solution is bridging the trust gap in this high value sector, giving customers the peace of mind that their funds are secure while waiting to receive their products – and suppliers benefit from guaranteed sales with zero friction.
The ability to release payments in milestones are enabled by the South African fintech, TradeSafe. TradeSafe is a strategic equity partner of Standard Bank and critical to the enablement of the Standard Bank Escrow platform. Standard Bank LookSee an integrated platform for homeowners, also leverages TradeSafe’s technology to ensure that online transactions are executed in a seamless and secure manner.