Standard Chartered Bank launches digital operation in Nigeria

Standard Chartered Bank has announced the official launch of its Digital Bank in Nigeria.

Speaking during the launch, Lamin Manjang, the bank’s CEO in Nigeria, said the flag off of the digital banking system is a key milestone on the digital journey of the bank, and underlines its commitment to investing and growing in the Nigerian market.

He said the bank has been steadily investing in expanding its footprint in Africa over the years, with the earlier launch in CDI, Ghana, Kenya and Tanzania, and this will continue to be a priority moving forward. “Digitising Africa remains at the heart of our business strategy for the region and we look to continue to grow our business in Nigeria being the best financial partner to our clients,” he said

The Digital Bank will initially offer savings accounts, current accounts, fixed deposits (with the option of joint accounts) along with Lending and Wealth Management solutions. For both existing and new to bank clients, the new SC Mobile 2.0 comes with several benefits including, zero charge on all interbank transfers, zero charge on SMS Notification, zero charge on ATM withdrawals, performing funds transfer without adding beneficiaries, generating a soft token for all transactions, free bank card delivery nationwide, account management and service request

The launch event held at the Civic Centre in Lagos and was attended by over 300 dignitaries, business leaders, clients and senior management, as well as the African Giant and  Nigerian music icon, Burna Boy. As the Bank’s Digital Ambassador, Burna Boy shared his experience on the ease of opening an account using his mobile phone.

Also speaking during the launch, the Head of Retail Banking in Nigeria, David Idoru, said: “Our digital bank was developed with our clients in mind. We have taken into consideration the feedback received by our clients at each stage of the design process and have incorporated innovative technology to allow them to execute all banking activities from a mobile device.

“This includes 70 banking services through the appIn addition, the client on-boarding journey has been digitised and in just the amount of time it takes you to make a cup of coffee, you can open a new account through the app. What has also been introduced is that our clients enjoy zero charge on all interbank transactions, zero charge on SMS notifications and free delivery of cards to them wherever they are. Clients can also open term deposit accounts, Joint accounts, Lending and WM products. This is something we are very proud of and we look forward to continuously providing the best in class financial services to our clients.”

The bank’s digital services are available by downloading the Standard Chartered mobile application on the app stores. New clients can execute all their banking activities from their mobile devices, starting by opening their bank account in less than 10 minutes. They can also provide all verification documents by uploading to the application and fully complete their on-boarding process within minutes.

By: Philip Nwosu, 

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