Standard Chartered hastens digital drive strategy across Africa

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Standard Chartered has announced its launch of social banking solution for Africa in Kenya, Uganda, Ghana and Tanzania.

The bank is expected to continue its digital expansion in African markets with another launch planned for September for Nigeria.

By digitalising the entire banking experience, customers will be able to enjoy simple, secure, affordable and interruptive banking anytime, anywhere. Active customers of the digital bank will also be eligible to receive loyalty benefits and promotions.

In just under 15 months, Standard Chartered has launched its digital banks in eight markets across Sub-Saharan Africa with impressive results.

In Côte d’Ivoire the digital bank has exceeded initial expectations with 18,000 new account openings, in Uganda the Bank has seen an eight-fold increase in new account openings, whilst in Tanzania the Bank has signed up more new customers since launching in March this year than in the whole of 2018.

The bank has also announced yet another multi-market launch of its digital bank in Botswana, Zambia and Zimbabwe as part of its digital transformation strategy in Africa. The next wave of digital-only bank follows launches in Uganda, Tanzania, Ghana and Kenya in the first quarter of the year and Côte d’Ivoire in 2018.

The expansion in Africa comes at a time when the continent, with a growing economy and population, is demanding wider access to digital services. The digital banking solution provides Standard Chartered customers across the eight markets with affordable, convenient, fast and easily accessible banking services. The first-of-its-kind digital bank in Botswana and Zambia offers a truly end-to-end digital account opening experience which has been developed following client feedback to offer a convenient platform to service all their banking needs.

According to Sunil Kaushal, Regional CEO, Africa and Middle East said: “This is a significant achievement for the … Read More...