UK multinational banking firm Standard Chartered has announced the launch of second wave of digital-only retail banks in four African nations.
Image: Standard Chartered’s head office in London. Photo: courtesy of Standard Chartered.
To meet growing consumer demand for advanced banking services on the continent, Standard Chartered is set to introduce its digital solution in four markets such as Uganda, Tanzania, Ghana and Kenya during the first quarter of this year.
The bank has launched the digital-only retail bank in Uganda in January, while in Tanzania this month, as well as Ghana and Kenya in the coming months.
Standard Chartered launched the first digital retail bank in Côte d’Ivoire (CDI) in the last year. The second phase is based on the original CDI platform, which onboards clients in under 15 minutes and offers 70 of the most common service requests.
The updated digital bank is said to offer optimized services such as QR code and P2P payments, loan and overdraft facilities and instant fixed deposits.
Standard Chartered is also planning to form strategic local alliances to create a better banking proposition to provide clients offers across shopping, travel and dining.
Standard Chartered has collaborated with Ugandan entertainer and comedian Anne Kansiim in Uganda to promote the new digital bank in the market
The customers can use bank’s digital services by downloading the Standard Chartered mobile application through the Google play store or Apple store.
Standard Chartered Africa and Middle East regional CEO Sunil Kaushal said: “We are thrilled to launch the second phase of our digital-only retail banks across other African markets.
“The Bank continues to make strategic and sustainable investments in technology – this complements our innovation agenda, as well as enhance our digital offerings and client experiences. Digitising Africa and facilitating access to financial services remains at the heart of our business strategy for the region.”
With operations in more than 60 countries across the globe, Standard Chartered offers various banking products and services for the companies of all sizes ranging from small start-ups to major multinational corporations and institutions.