The bank was recognised for their digital innovations, significant income growth, and enhanced customer satisfaction.
Standard Chartered Bank - Hong Kong received the International Retail Bank of the Year and Digital Banking Initiative of the Year Awards for Hong Kong in the Retail Banking Awards 2020, presented by Asian Banking and Finance magazine.
Always striving for excellence and keeping clients at the heart of their organisation, the multinational banking and financial services company concentrated on incorporating digital transformation to their operations and streamlining processes.
Their new array of cutting-edge offerings in their digital platform earned them the Retail Bank of the Year Award alongside enhanced productivity and client services.
Incorporating an omni-channel platform across the bank’s staff-assisted and digital touchpoints, Standard Chartered digital active clients are uplifted to 56%, which is outstanding among peers with the overall digital active base YoY growth amounting to 25%.
Meanwhile, their mobile active client base expanded by 47%, which can be attributed to the constant efforts in migrating functions from online to mobile. Growth in the digital active base persisted in Q1, increasing to 3% QoQ
Amidst macroeconomic challenges, they managed to transform and disrupt the industry with their digital initiatives by beta-testing virtual banking in Hong Kong and digital banks in nine African markets.
Their new offerings in their digital platform also garnered Standard Chartered the Digital Banking Initiative of the Year Award.
The bank boasts omni-channel methods of virtual and human assistance through their Virtual Assistant Stacy, My RM ,and Chat with Live Agent options.
They have also developed enhanced digital wealth platforms, with a unique FX membership reward scheme and individualized market updates as well as an online UT selection according to categories and specialists’ choice.
Apart from this, Standard Chartered has also enabled cardless cash withdrawal via QR code, which reduced withdrawal time by half to 20 seconds as well as mobile keyboard banking through SC Keyboard, which caters to delivering payments and checking balances in any application. Both can be added to the roster of first-in-market achievements of the awardee.
Standing at the forefront of investing and incorporating client demands in their digital transformation journey, the bank’s new digital capabilities are designed to rise to the needs of clients and better serve customers.
Despite the pandemic, Standard Chartered clients can still oversee their investment and finance in the safety of their homes through services that are both human-oriented and digitally progressive—another testament to the bank’s successful digital transformation journey.
The Retail Banking Awards, presented by Asian Banking & Finance magazine, was held via video conferencing throughout the whole month of August.
This year’s nominations were judged by a panel consisting of Liew Nam Soon, ASEAN Managing Partner, Markets at Ernst and Young; Ho Kok-Yong, Partner, Leader and Financial Services SEA & Singapore at Deloitte & Touche LLP; John Dovaston, APAC Financial Services Leader at PwC; Chia Tek Yew, Head of Financial Services Advisory at KPMG, Gabriel Seow,
Audit Partner at BDO LLP, Singapore; Justin Tan, APAC Financial Services Partner at Mazars; Sean Choo, APAC Financial Services Partner at Mazars.
If you would like to join the 2021 awards and be acclaimed for your bank’s groundbreaking products and services, please email Julie Anne Nuñez at firstname.lastname@example.org
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