Currently, the bank that wants to launch the app by September, is testing it with pilot users.
The app’s first version will feature a balance peek option that will let users check their balance from their watches.
The bank said in a statement: "Balance peek on smartwatches is perfect for those moments when you need to quickly and unobtrusively check your balance. As more users start embracing smart watches and other forms of wearable personal technology, Standard Bank will continue to work with customers to understand their requirements and develop a roadmap of banking features for wearables."
While the Apple watch has not yet been released in the country, it is expected to reach South Africa in the next few months.
IOL quoted Standard Bank head of digital customer solutions Magnus Taljaard as saying: "We are continuously looking for ways to make our customers’ lives easier and to make banking a seamless part of their daily lives.
"With our smart watch app we are providing greater choice to customers about how they would like to stay in control of their finances."
Currently, the bank is also considering the development of other smartwatch-based apps that would enable users to check share prices and indices and track portfolios.
