DIGITAL BANKING

Standard Chartered Bank expands its digital footprint in Africa

The digital expansion comes at a time when the continent has rising demand for wider access to digital services.

In Summary

• The digital expansion comes at a time when the continent has rising demand for wider access to digital services.

The Standard chartered bank on Kenyatta avenue. Photo/Monicah Mwangi
The Standard chartered bank on Kenyatta avenue. Photo/Monicah Mwangi

Top-tier lender, Standard Chartered has launched its digital banking for  in three more countries,Botswana, Zambia and Zimbabwe, as part of it's digital transformation strategy.

This after digital-only banks were launched in Uganda, Tanzania, Ghana and Kenya earlier this year and Côte d'Ivoire in 2018.

The digital expansion comes at a time when the continent has rising demand for wider access to digital services.

 

“The growing population of Africa is demanding faster and more convenient banking and we have witnessed increased acceptance and a growing demand for our digital products across the continent,” said Sunil Kaushal, Standard Chartered Regional CEO, Africa and Middle East.

By digitalising the entire banking experience, customers will be able to enjoy simple banking anytime, anywhere.

In under 15 months, the bank has launched its digital banks in eight markets across Sub-Saharan Africa.

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

In its continued efforts to meet the rising demands of Africa's digital-savvy population, Standard Chartered has also launched SC Keyboard, which allows customers to access a variety of financial services from within any social or messaging platform without having to open the Banking app.

According to the Hootsuite and We Are Social Global Digital Report 2019 in 2018 alone the African continent saw a 12 percent increase in active social media users and a 15 percent increase in active mobile social media users.