Standard Chartered Invests $3bn In Digital Banking

Standard Chartered says it is committed to driving digital banking with innovation and technology and has invested about $3bn in technology in recent years.

The Head of Retail Banking, Standard Chartered Bank Nigeria, David Idoru, said in a report on the rise of Nigeria’s invisible bank that this would automatically mean that people would have more choices and banking would be more convenient.

In this regard, he stated that digitalisation would no longer be seen as a destination but as the path to the superior client experience.

He said, “In the last three to five years, Standard Chartered has invested over $3bn in technology.

“We have also taken a ‘capturing the digital initiative’ approach that ensures that about 70 per cent of the most common service requests can be handled by our digital bank with distinct benefits such as zero charge on all interbank transactions, zero charge on SMS notifications and free delivery of cards to customers regardless of location.

“For us, our sense and definition of a digital bank would resonate more with one that serves its clients without them ever needing to come to the branch if they don’t want to, not even to open an account. It means giving people the choice to do everything digitally from their mobile phones.”

He stated that in a world of digital banking and with innovation and technology positioning itself as the future of payments, there were several opportunities for organisations to solve some of the world’s biggest challenges and enhance large scale productivity.