Global banking giant Standard Charted has announced what is being billed as a “multi-market” launch of new digitally-led retail banks on the African sub-continent. Following its digital offerings in Ivory Coast (2018 and January 2019, respectively) Ghana and Tanzania are next in the groups planned expansion of a ‘digital transformation’ across Africa.
The most recent roll-outs are designed to provide Tanzania and Ghana with access to the mobile-led digital bank platform, which Standard Chartered describes as having enhancements and benefits such as “instant account opening (available in local and US currencies), zero fee on bill payment, zero monthly ledger, no minimum balance, and free initial ATM cards.”
From start to end, the group explains the banking process from various client services to the customer on-boarding experience will run roughly under 15 minutes.
“Digitizing Africa continues to be an integral component of our strategic transformation, and we have been steadily expanding our footprint across the continent,” Sunil Kaushal, regional CEO for Standard Chartered in Africa and the Middle East said in an official statement. “We are constantly looking for ways to push the boundaries, by providing our customers innovative solutions and technologies.”
“Ultimately, it is about listening to what our clients want and meeting their banking needs by offering a digital platform to do their banking anytime and anywhere, through the channel they prefer.”
The banking giant’s digital bank roll-outs are aimed at increasing digital adoption with a primary focus on so-called young digital natives. To support the new initiatives and current country rollouts in Ghana and Tanzania, the Bank will run a targeted marketing campaign aimed at reaching younger banking consumers across the continent.
Photo: Africa Business Communities