Standard Bank unveils Sh83m mobile banking platform

NAIROBI,KENYA: Standard Chartered Bank on Monday launched a mobile digital bank for its retail customers with enhanced features at Sh83.4 million.

The platform will now allow clients to open an account in less than 15 minutes, transact, save, borrow, invest, insure and protect their wealth online without having to visit a branch.

The digital bank platform will provide users with over 68 services on their phone including; updating account information, activating or stopping their card and making bill payments;

It will also allow users to stop or block a cheque, create and terminate fixed deposit creation and transfer funds locally and internationally among others.

Standard Chartered Bank Kenya Managing Director and CEO Kariuki Ngari said the full end to end digital solution can be accessed by downloading or upgrading the SC mobile App via Google play store or Apple store. It is available for both existing and new clients to open a Standard Chartered Digital Life Account anywhere, anytime.

“In response to growing consumer demand for innovative banking services, our clients will be able to enjoy the convenience of banking on the go, anytime and anywhere, along with a consistent online experience. In a nutshell, our clients do not need to stop doing what they love doing, for example spending time with their loved ones, teeing off, taking a spot-kick, relaxing, or even taking time off work, to do banking; the Bank is now available at the palm of their hands; anywhere, anytime, anyhow,” Ngari said.

Ngari said the Bank would continue to make strategic and sustainable investments in technology that will complement its innovation agenda, as well as enhance its digital offerings and client experiences. Additionally, the rollout will also see the Bank engage in strategic local alliances to create an appealing lifestyle banking proposition.

“At Standard Chartered we have responded to new trends and the evolving needs of Kenyans with a strategic intent of being Digital by Design through innovation and technology. Digitalization to us means a disruption from traditional and conventional ways of banking to transforming banking business to conform to the lifestyles of our clients,” Mr. Ngari said.

Kenya is the fifth market in Africa within the Standard Chartered network to launch the digital-only retail bank alongside Cote D'Ivoire, Ghana, Tanzania and Uganda.