Stanchart in Mobile Banking Venture

STANDARD Chartered Bank is launching its newest mobile and online banking platform to one million clients across eight African markets, including Zimbabwe, the most extensive digital rollout of its kind in Africa by an international bank. 

Supported by the bank's global-standard technology, clients will enjoy a consistent online experience across electronic devices such laptops, tablets or mobile phones, and the convenience of banking from the location of their choice.

After the rollout to Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe in the first half of 2016, the Stanchat will launch fingerprint recognition technology in these markets later this year, giving clients a more secure and convenient way to transact.

"We're bringing the best in mobile banking to Africa - consumers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be," said Karen Fawcett, Standard Chartered's chief executive for retail banking. "Africa is important to Standard Chartered and this launch is another demonstration of that."

Stanchart in Mobile Banking Venture

The launch is in line with Stanchat's strategy of using digital technology to deliver the future of banking to clients in Africa.

Last year, the bank announced it will invest $1,5 billion in technology over three years.

With Africa's mobile penetration estimated to be around 67 percent, the launch brings Standard Chartered Mobile, the bank's mobile banking application to Botswana, Kenya, Uganda, Tanzania, Zambia and Zimbabwe for the first time.

In Nigeria and Ghana, mobile banking clients will move to the Bank's standard global platform.

Through Standard Chartered Mobile, clients can check balances, transfer money and pay bills securely, all through their smartphones.

Standard Chartered is also upgrading its online banking platform in these markets to navigation and user-friendly interfaces on the bank's websites.

Clients will also be able to use a new self-service option for wealth management that enable them to set up their investment profiles online and find out products that are most suitable by answering questions on their financial position, investment objectives and risk tolerance.

Bringing the future of banking to Africa-The online and mobile banking platform puts Standard Chartered at the forefront of digital banking technology in Africa and the first international bank to extend a brand-new global platform to eight countries in one rollout.

"We are committed to making banking easier, faster and safer for our more than one million retail clients across Africa," said Jaydeep Gupta, Standard Chartered regional head of retail banking for Africa and the Middle East.

"This multi-country roll-out is in line with our promise to bring world-class products and functionality to Africa, consistent with the trends and progress we are making in our international markets in Asia and the Middle East.

"By early next year, we expect at least 35 percent of all client transactions to be done through online channels; significantly advancing the transformation of banking in Africa."