Standard Chartered bank launches digital roll out in 8 African countries
In an extensive digital roll out billed as one of its kind in Tanzania, Standard Chartered Bank has launched a mobile and online banking which also embraces the fingerprint technology.
The roll out in Tanzania is also happening across 7 other African countries and is targeting an estimated one million customers. “Supported by the Bank’s global-standard technology, clients will enjoy a consistent online experience across laptops, tablets or mobile phones, and the convenience of banking from the location of their choice,” said the bank in a statement
In Tanzania, customers are already downloading the new mobile application which is available to both Apple and Android users. The Bank’s Head of Retail Clients, Michael Shio, said with the new mobile application, customers could have a single view of their banking portfolio covering accounts, loans and debit cards. “They can also perform real time funds transfer processing and access direct communication from the bank in their mailboxes.
The Application is fast, efficient and secure,” he said. With the Mobile Application, the Bank’s customers can also set up beneficiaries to make transfers to and moreover, they can personalize their accounts by adding account nicknames or icons. The rollout has taken place in Tanzania, Botswana, Ghana, Kenya, Nigeria, Uganda, Zambia and Zimbabwe in the first half of 2016 and later in the year the Bank will launch fingerprint recognition technology in these markets, giving clients a more secure and convenient way to log in to their accounts.
“We’re bringing the best in mobile banking to Africa – consumers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be,” said Karen Fawcett, Standard Chartered’s CEO for Retail Banking. “Africa is important to Standard Chartered and this launch is another demonstration of that.” “We are committed to making banking easier, faster and safer for our more than 1 million retail clients across Africa,” commented Jaydeep Gupta, Standard Chartered’s regional head of Retail Banking for Africa and the Middle East.
“This multi-country rollout is in line with our promise to bring world-class products and functionality to Africa, consistent with the trends and progress we are making in our international markets in Asia and the Middle East. By early next year, we expect at least 35 per cent of all client transactions to be done through online channels; significantly advancing the transformation of banking in Africa.”
The launch is central to Standard Chartered’s strategy of using digital technology to deliver the future of banking to clients in Africa. The Bank last year announced it will invest $1.5bn in technology globally over three years. With Africa’s mobile penetration estimated to be around 67 per cent the launch brings Standard Chartered’s mobile banking application to Tanzania, Botswana, Kenya, Uganda, Zambia and Zimbabwe for the first time.
In Nigeria and Ghana, mobile banking clients will move to the Bank’s standard global platform. Through Standard Chartered Mobile, clients can check balances and transfer money securely, all through their smart phones. Standard Chartered is also upgrading its online banking platform in these eight markets, so clients will benefit from improved navigation and userfriendly interfaces on the Bank’s websites, the statement further said.
