Standard Chartered to launch digital-only retail banks in Kenya, Uganda and Ghana
In response to the growing consumer demand for innovative banking services, Standard Chartered has announced that it will launch its digital solution in four key markets during the first quarter of 2019. The bank will first launch the services in Uganda in January, followed by Tanzania in February, with Ghana and Kenya to follow
Standard Chartered launched its first digital retail bank in Côte d’Ivoire last year. This second phase according to the bank builds on the original CDI platform that onboards clients in under 15 minutes and provides 70 of the most common service requests. The updated digital bank provides enhanced services including QR code and P2P payments, loan and overdraft facilities, and instant fixed deposits. Clients will be able to enjoy the convenience of banking on the go, anytime and anywhere, along with a consistent online experience
“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.” Sunil Kaushal, Regional CEO, Africa and Middle East said.
Africa’s banking market is the second-fastest-growing and second-most profitable globally. The retail banking sector is a locus of new business models which are emerging in response to low levels of banking penetration and heavy use of cash in the Sub-Saharan continent.
The Bank’s digital services are available by downloading the Standard Chartered mobile application via the Google play store or Apple store.
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