Standard Chartered Bank Kenya has introduced a digital-only retail banking solution priced at Ksh 83.4 million, enabling customers to perform financial transactions remotely. The SC Mobile Digital Bank allows users to open accounts in under 15 minutes and access services such as savings, loans, investments, insurance, and cross-border transfers through a mobile application.
The platform provides over 68 functionalities, including account updates, card management, bill payments, cheque blocking, fixed deposit creation, and domestic/international fund transfers. Clients can access these features by downloading or updating the SC Mobile App from app stores, with availability for both existing and new customers.
Standard Chartered Bank Kenya Managing Director Kariuki Ngari emphasized the platform's role in meeting evolving consumer needs, stating it eliminates the necessity for physical branch visits. 'Clients can now manage finances without interrupting personal activities, as banking is accessible anytime and anywhere through their mobile devices,' he said.
The initiative aligns with the bank's 'Digital by Design' strategy, focusing on technological innovation to adapt to client lifestyles. Ngari noted continued investments in digital infrastructure to enhance user experiences and expand partnerships for lifestyle-centric banking solutions.
Kenya joins Cote d'Ivoire, Ghana, Tanzania, and Uganda as the fifth African market to adopt the digital-only retail banking model under Standard Chartered's regional network.
