Standard Bank and Robin Hood partner to reunite billions in unclaimed assets

Many people in South Africa have unclaimed assets worth an estimated R90 billion that they are unaware of. Robin Hood, in partnership with Standard Bank’s OneHub, introduces a revolutionary solution to this widespread problem. The Robin Hood digital platform powered by Standard Bank is set to transform the way unclaimed assets are identified, claimed, and returned to their rightful owners. 

The Financial Sector Conduct Authority (FSCA) issued a discussion paper to engage with the financial services industry and gather insights into the challenges that the industry faces. We believe that through the use of technology, such as the Robin Hood solution, aligns with the FSCA’s goals of streamlining the industry and will ultimately accelerate the release of billions of rands to South Africans while unlocking millions of rands of untouched tax revenue for the benefit of economic growth. 

In an industry rife with scams and fraud, Robin Hood’s collaboration with Standard Bank’s OneHub ensures security, trustworthiness and credibility. “The Robin Hood platform, with its ability to consolidate unclaimed benefits data, is a game-changer. We are delighted to have the support of Standard Bank in delivering a robust and reliable solution that fundamentally enhances asset holders’ client service.” said Rowan Gordon, CEO of Robin Hood. 

This groundbreaking platform, available to all asset holders and the broader banking community, is designed to address the complex issue of unclaimed benefits head-on. By aggregating data from multiple sources into a single database, Robin Hood will return your lost funds. Robin Hood’s efficient and cost-effective platform allows asset holders to trace, verify, and process payments at an unprecedented scale, this technology-driven initiative streamlines the cumbersome process of claiming benefits.

“We believe that through partnership we can solve big industry problems faster, bringing the agility of a fintech together with the reach of Standard Bank puts us into a unique position to succeed in solving societal challenges” said Jonathan Lamb, Head of Channel & Partnerships at CIB Digital Standard Bank. 

Our ambition to co-create solutions by bringing partners together has been realised by incorporating the iiDENTIFii biometric identity capability into the Robin Hood solution through the OneHub API marketplace. We look forward to working with Robin Hood in tackling Liberty’s unclaimed pension book in this pilot phase of this exciting initiative.

Main Image: Standard Bank