Standard Chartered launches second wave of digital retail banks

6231374933 5102448cb7 zStandard Chartered has announced the start of the second phase of its digital retail bank across Africa, aimed at driving digital adoption among new and existing customers focusing on young digital natives

The bank has stated that it will launch the digital solution in four vital markets in the Q1 2019, starting in Uganda in January, Tanzania in February, followed by Ghana and Kenya.

Following the successful launch of Standard Chartered’s first digital retail bank in Côte d'Ivoire last year, the second phase builds on the original CDI platform that provides customers with less than 15 minutes onboard and 70 of the most common service requests, the bank added.

The updated digital bank provides enhanced services including QR code and P2P payments, loan and overdraft facilities and instant fixed deposits. Customers can enjoy the convenience of banking on the go, anytime and anywhere, along with a consistent online experience, it further added.

The bank will engage in strategic local alliances to create an attractive lifestyle banking proposal to offer customers shopping, travel and dining opportunities.

Sunil Kaushal, the regional CEO of Africa and the Middle East, said, “We are thrilled to launch the second phase of our digital-only retail banks across other African markets. Digitising Africa and facilitating access to financial services remains at the heart of our business strategy for the region.”

Emmanuel Mutebile, Central Bank Governor, commented, “I congratulate Standard Chartered Bank on unveiling this revolutionary digital initiative as I believe that with such innovations, we are making significant progress in embracing technological changes and digitisation to help us achieve stable and long-term growth.”

The Bank will also launch a marketing campaign called ‘BEUNSTOPPABLE’, Bank on the go! The campaign will run across traditional and social media to remind consumers that banking should not stop them from doing what they like to do and when they want to do it.

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