17 July 2018
Register today

Standard Chartered revamps mobile and online channels for African push

31 May 2016  |  5407 views  |  0 Standard Chartered branch sign

Standard Chartered is rolling out a new mobile and online banking service to serve one million clients across eight African markets as part of a three-year $1.5 billion commitment to a digital future.

The rollout - which will give customers a consistent online experience across laptops, tablets or mobile phones - begins in Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016.

At a time when other banks are pulling back from expansion in African markets, Standard Chartered sees a bright future for banks that deploy digital technology to reach clients across the region, which has a 67% mobile penetration.

As part of the upgrade, the bank is introducing a rudimentary robo-advisory service for wealth management, enabling clients to set up their investment profiles online and find out which products are most suitable by answering a series of questions on their financial position, investment objectives and risk tolerance.

“Consumers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be,” says Karen Fawcett, Standard Chartered’s CEO for retail banking. “Africa is important to Standard Chartered and this launch is another demonstration of that.”

By early next year, the bank expects 35% of all client transactions to be done through online channels.

Fawcett says 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.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Standard Chartered opens Singapore innovation lab

Standard Chartered opens Singapore innovation lab

23 March 2016  |  13352 views  |  0 comments | 12 tweets | 17 linkedin
Standard Chartered PE arm and Goldman Sachs invest $28m in Vietnamese mobile money firm

Standard Chartered PE arm and Goldman Sachs invest $28m in Vietnamese mobile money firm

17 March 2016  |  7135 views  |  0 comments | 9 tweets | 2 linkedin
Standard Chartered goes global with 'bank on an iPad'

Standard Chartered goes global with 'bank on an iPad'

08 March 2016  |  12431 views  |  1 comments | 14 tweets | 29 linkedin
Standard Chartered hires Capital One's James Dolphin as retail CIO

Standard Chartered hires Capital One's James Dolphin as retail CIO

16 February 2016  |  9001 views  |  0 comments | 1 tweets
Standard Chartered partners with Baidu to 'SuperCharge' fintech innovation

Standard Chartered partners with Baidu to 'SuperCharge' fintech innovation

12 January 2016  |  9473 views  |  0 comments | 25 tweets | 11 linkedin
Standard Chartered to axe 15,000 jobs, move more business online

Standard Chartered to axe 15,000 jobs, move more business online

03 November 2015  |  7764 views  |  0 comments | 9 tweets | 10 linkedin
Standard Chartered appoints non-banker Gorriz as group CIO

Standard Chartered appoints non-banker Gorriz as group CIO

25 March 2015  |  6151 views  |  0 comments | 7 tweets | 3 linkedin

Related company news

 

Related company information

Standard Chartered Bank

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10247 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9159 views comments | 5 tweets | 14 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8624 views comments | 3 tweets | 1 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8534 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7623 views comments | 1 tweets | 5 linkedin

Featured job

Find your next job