StanChart Deepens Investments in Digital Banking

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Standard Chartered recently reiterated its commitment to improving the overall banking experience of its clients’ through digitisation and technology.

With a renewed focus on strengthening its digital banking platforms to provide clients with multiple and convenient alternate banking channels, the bank disclosed in a statement that it would be optimising its digital banking solutions and its branch network to cater to the evolving needs of its client.

Speaking on this commitment, the Head of Retail Banking, Standard Chartered Bank Nigeria Limited, Ebehijie Momoh, noted that the bank seeks to provide convenient and accessible banking for its clients everywhere and at any time without time restrictions, physical limitations and dependence on branches. She added that the plan also aligns with the financial inclusion and cashless policy strategy of the Central Bank of Nigeria (CBN).

She said: “We have observed a significant increase in the use of our digital platforms by our clients compared to the use of our physical branches.

“This is in sync with observable behaviours in the digital age with customers embracing technology and digital channels to conduct transactions. Therefore, to ensure we are optimising all existing service platforms for the benefit of our clients, we continue to invest in upgrading our digital banking solutions and branch

network.

“Our clients want flexibility, accessibility and efficiency in the solutions and services we provide and with our ongoing optimisation drive, they will be able enjoy these benefits from the comfort of their homes, offices or on the go.’’

Earlier this year, the bank launched its first and fully digital retail bank in West Africa as an important milestone in its path towards innovation in its customer service value proposition.

Building on the successes in Cote D’ivoire and Ghana, the bank plans to roll this out in Nigeria shortly.

In addition, as part of efforts to remain a client centred business, the bank would also strategically merge some of its branches across the country.

In all, 14 branches would be merged while maintaining a network of 21 large branches strategically located for the convenience of clients.

These mergers enable the bank to further reassign resources to other functions and locations that require more support with client interfacing.

“Some of the services available to new and existing clients on its digital platforms include Instant local transfers to other banks; foreign telegraphic transfers; airtime top-up and utility bill payments to 100’s of billers; confirmation of transactions; loan repayments; credit card payments; opening of additional bank accounts and free cash withdrawal on other banks’ ATM.

“Additional services such as cardless cash withdrawal, Visa Mobile QR Payment, Debit/Credit Card Activation, Debit/Credit Card PIN Change and Reset are available on its digital banking channels,” the statement added.