Standard Chartered launches digital only retail banking

Standard Chartered Bank Botswana Limited on Tuesday launched an end-to-end digital only retail bank solution through an innovative app. This forms the basis of the first steps towards a truly digital experience from account opening and activation, to funding and transacting.

It offers customers an onboarding process of approximately 15 minutes, including registration and data input, KYC (Know Your Customer) document upload and post-activation so that the debit card can be delivered to customers at a location of their choosing within 24 hours of the account being opened.

Mpho Masupe

“Today was not about gauging the reaction to a new launch; it was about proudly inviting Batswana to make the step up to a new way of banking – shifting mindsets of what banking was to what it should be – and for Standard Chartered Bank, what it is now. 

It is about demonstrating that we have a live platform that enables banking to fit into your lifestyle, not take away from it, not slow it down but instead keep you going – securely, affordably and conveniently,” said Mpho Masupe, Standard Chartered Bank Botswana Chief Executive Officer.

The platform provides over 70 of the most common transactional service requests, including balance check, statements, peer-to-peer payments, QR payments, loan and overdraft facilities and instant fixed deposits, among others. Existing and potential customers can join the digital only retail bank world by downloading the dedicated Standard Chartered mobile app via the Google Play Store or the Apple Store.  The app is compatible with both IOS and android devices. Customers will need to complete all registration details including relevant document uploads and KYC compliance requirements, confirm submission and location in order for a Standard Chartered agent to activate the account and to be able to start transacting.

“We live in a digital ecosystem with real-time needs and a demand for agile facilities and platforms that support our lifestyles rather than hinder them. It is with this in mind, that we are always looking to offer our customers innovative and convenient solutions,” said Letso Gaborekwe, Acting Head of Retail Banking of Standard Chartered Bank Botswana.

Source: thetswanatimes.co.bw

2 weeks ago

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