The Standard Chartered Pakistan announced the launch of its digital banking solution to elevate client experience, a statement said on Monday.
The solution is aimed at elevating client experience of its existing and potential client-base by offering enhanced convenience, agility and customised offerings, it added.
The solution has been developed in-house leveraging global expertise and best practices and partnering with local service providers under the Digital drive of the State Bank of Pakistan.
Using the newly launched platform, clients can open their accounts, perform transactions, seek a host of services and subscribe for products, without the need of visiting the branch or using other customer servicing channels.
The digital solution involves straight–through processing with automated work-flows including the integration of core banking and due-diligence systems to offer minimal turn-around-time.
The State Bank of Pakistan (SBP) has played a leading role in creating an environment to push the frontiers in this space. Standard Chartered is also the first bank in Pakistan to join hands with Nadra to offer real-time biometric verification for account opening through the Standard Chartered Mobile App.
“Our App is prepared to set new benchmarks for innovation in financial services, with a primary purpose of making banking simple and convenient for everyone. This is a key milestone in our aspiration to lift participation and drive financial inclusion across Pakistan,” Standard Chartered Pakistan Limited (SCBPL) chief executive officer, Rehan Shaikh said. “It also signifies our commitment to not only investing in and growing the market, and also fuelling innovation through strategic collaborations and partnerships to advance an integrated digital banking ecosystem.”
“We will continue to build on this launch and strengthen our award-winning digital capabilities by continuously incorporating client feedback in product development and aligning with different partners to solve for client needs,” he added.
With the Bank’s SC Mobile app, millions of formerly unbanked Pakistanis will be able to enroll for and utilise round-the-clock secure banking facilities with the touch of their fingers through mobile applications now.
The traditional legacy banking model status is already being challenged by consumer bias towards digital solutions coupled with the enhanced cyber security measures.
The technologically driven, artificial intelligence and analytics based, client due diligence and risk profiling tools integrated with digital platforms is resulting in better client experience.