While nearly all local banks have adopted an online platform where their clients can get access to services from their smart devices without ever making a visit to a banking hall, only a handful of those institutions have successfully made truly robust systems. Equity, for instance, paved the way for the rest having launched Eazzy Banking App and complementary services a couple of years ago.
This is the same approach Standard Charted Bank is taking after it announced SC Mobile Digital Banking, a platform that will allow its clients to perform a variety of services in a timely manner, including opening a Stanchart account in under a quarter an hour, as well as saving, borrowing, investing and protecting funds online without making a physical appearance at any of the institution’s branches.
The digital platform is reported to have cost the bank KES 83 million to create. Its accompanying app weighs a healthy 65 MB on the Android platform, but Stanchart says it has packed it to the brim with over 68 services including activating and stopping your Card, stopping or blocking cheques, transferring funds locally and internationally, to mention a few. The app is also available for iOS devices.
It should, however, be noted that most of these services are mostly similar to what your basic banking or fintech app offers, with a recent leaning to the lucrative mobile loans segment that most banks offer right now.
“In response to growing consumer demand for innovative banking services, our clients will be able to enjoy the convenience of banking on the go, anytime and anywhere, along with a consistent online experience. In a nutshell, our clients do not need to stop doing what they love doing, for example spending time with their loved ones, teeing off, taking a spot-kick, relaxing, or even taking time off work, to do banking; the Bank is now available at the palm of their hands; anywhere, anytime, anyhow,” says Mr. Kariuki Ngari, MD Standard Charted Bank Kenya.
The platform has been available in Uganda, Tanzania, Ivory Coast, and Ghana, making Kenya launch its fifth market.
