StanChart triples retail customers with 78% digital adoption rate

BUUMBA CHIMBULU writes@SunZambianSTANDARD Chartered Bank Zambia has tripled the number of new retail customers acquired in the last year, as over 88 percent of the Bank’s transactions are going through digital platforms.The Bank has attributed the increase the number of new retail customers acquired in the last year to easy account opening process on the […]

StanChart triples retail customers with 78% digital adoption rate
BUUMBA CHIMBULU writes@SunZambianSTANDARD Chartered Bank Zambia has tripled the number of new retail customers acquired in the last year, as over 88 percent of the Bank’s transactions are going through digital platforms.The Bank has attributed the increase the number of new retail customers acquired in the last year to easy account opening process on the SC Mobile app.According to the Bank, it has seen more clients opt for digital channels as it now boasts a 78 percent digital adoption rate.Standard Chartered Bank’s Head of Retail Banking, DeepPal Singh, said the institution had continued to enhance other channels for cus-tomers to have quick and easy banking, such as the new contactless visa debit and credit cards.Mr Singh explained in a statement that this not only saved time for customers transacting at point of sale machines, but was also a safer way to transact in the new normal.“We continue to innovate our client value proposition to meet the changing needs of our clients. Our clients do not need to physically visit the branch to pay their taxes – they can now use the E-tax feature on our digital platforms.“We have pioneered digital banking in Zambia, having introduced the only Banking app in the country that is not just an app but a bank in its own right,” he said.Mr Singh said the Bank remained committed to Zambia and would continue providing world class banking solutions for its customers.He further mentioned that even more enhancements would be made to the Bank’s digital platforms within the next few months.Launched in 2019, the Bank’s SC Mobile remains the only banking App in Zambia that allows clients to open a bank account, end-to-end, via smartphone in just 15 minutes.The Bank also announced that it has added the Zambia Revenue Authority E-Tax feature on its digital banking platforms. The Sun