PowerPulse Qorus Banking Innovation Awards 2022

SBG brought various stakeholders together for an ideation session to brainstorm around some of the energy challenges in South Africa. Initially, the Decentralised “Energy Blitz” was made up of a cross-collaboration of over 60 clients, partners, and suppliers of renewable energy to explore the challenges and opportunities. South Africa’s power sector experiences an unstable electricity supply and a lack of predictability around the cost of electricity. At the same time, South Africa experiences an average of 2 500 hours of sun every year, presenting Solar Photovoltaic (PV) as a viable means of lowering electricity costs and obtaining energy security. After an iterative client discovery process, taking the time to deeply understand client pain points, PowerPulse was developed and launched by the Standard Bank Group (SBG). PowerPulse is an holistic, client-centric digital solution that offers solar PV feasibility assessments, and coordinates consultations and comparable proposals from credible solution providers. It is the first of its kind digital platform business from a financial institution in Africa that accelerates the adoption of renewable energy across the continent, by transforming the way clients access, consume, and deliver decentralised energy solutions. Clients who consider funding options can rely on PowerPulse to integrate the funding request into the relevant funding assessment departments of SBG. This assists clients in navigating the fragmented market of the power industry, which is layered with complex solutions, diverse suppliers, and an array of products. South African businesses have been experiencing extensive electricity supply challanges for the last few years and they also face multiple complexities when attempting to adopt renewable energy. PowerPulse is a solution that simplifies the complex regulatory environment and decision-making processes for Standard Bank clients seeking access to alternative energy sources. It helps clients navigate the fragmented market, layered with complex solutions, diverse suppliers, and dynamic products, thereby promoting the adoption of environmentally friendly energy solutions for commercial and industrial clients in South Africa. PowerPulse was co-created with clients, solution providers and other stakeholders who are committed to the fundamental principles of the Paris Climate Accords. It promotes the adoption of environmentally friendly energy solutions for Commercial and Industrial clients in South Africa.