Standard Chartered Bank Ugandahas today launched the first fully digital online banking solution at a grand event held at Kampala Serena Hotel.
This digital solution will give its clients access to over 70 self-service requests making banking accessible, hassle-free and convenient. Core among these services is the ability for anyone to join the Bank by downloading the Standard Chartered Mobile App which can be downloaded or upgraded via Google play store or Apple store, then in under 15 minutes open an online Standard Chartered Digital Life Account!
The free online accounts can be opened only in local currency enabling the Bank’s clients to enjoy benefits such as:
The Minister for ICT & National Guidance Honorable, Frank Tumwebaze was the Guest of Honor while the Governor, Bank of Uganda, Prof. Emmanuel Tumusiime Mutebile gave the key note address at the official launch event. The event was attended by over 300 dignitaries, business leaders, clients and senior management.
This historic digital solution launch was preceded by a press conference which among other issues saw the Bank unveil its Digital Bank Ambassador, Ms. Anne Kansiime.
While unveiling the Digital Bank Ambassador at the pre-launch press conference, Ms. Olga Arara-Kimani the Regional Head, Corporate Affairs and Brand & Marketing for Africa and Middle East said;
“Ms. Anne Kansiime as you may all be aware, is a talented, award winning comedian, actress, businesswoman, writer and philanthropist who is celebrated in Uganda and in Africa for her art and humor and most importantly for being authentic and relatable to the market we are targeting. Anne will be promoting the Bank’s digital banking capabilities. She will lend her voice and image rights through a series of Marketing and Community engagement activities over the next 12 months.”
Ms. Kimani further alleged that The Bank thought Anne Kansiime a worthy ambassador because she is an inspiration, not only due to her artistic abilities, but also because she is; forward thinking, dynamic, innovative, enterprising, approachable, connected, consistent and committed to excellence.
“We recognize her authenticity as a locally grown talent that Ugandans and Africans at large celebrate and value. Her ideals are very much in line with those of Standard Chartered’s as an International, dynamic and innovative institution with a strong heritage. It is these ideals which have made her such a great fit for this role and it is truly an honor for the Bank to have her as its digital brand ambassador.” She concluded
While delivering his address to the guests at the launch, Albert Saltson, the CEO, Standard Chartered Bank said: “We arepleased to launch our second digital bank initiative here in Uganda. This is a key milestone on our digital journey as a Bank andunderlines our commitment to continue steadily investing in modern technology, build systems and upskill our people whilst tapping into our global expertise to make digitization a reality in Uganda.
“Digitalization to us means disruption from traditional and conventional ways of banking to transforming banking business with the sole objective of improving customer experience. It is imperative that we respond to the changing customer needs by providing solutions that address their evolving needs. Clients today are looking for products and partners who will offer solutions that are accessible, convenient, cost effective and most importantly forward looking. Our new digital banking solution has therefore been developed with our clients in mind.We took into consideration the feedback received from them to provide the innovative technology that allows them to executeall banking activities from a mobile device. In addition, for thefirst time, the client onboarding journey has been digitized andin under 15 minutes a client can open a new account throughthe SC App” He advised.
The Central Bank Governor Prof. Emmanuel Mutebile while delivering the keynote address on the topic; Digital transformation in Banking, future trends and how to remain buoyant” discussed the rise of technology in Banking questioning whether we should be afraid or feel excited about the opportunities, possibilities and sophistication that digitization is bringing to the Banking sector. He cautioned that traditional banking as we currently know it will slowly be crippled by competition in the near future from tech savvy partnerships and forward-thinking institutions that are embracing digitization.
“There will continue to be disruption in the Banking sector. Institutions that fail to keep up might lose out and at the very worst be pushed out of business in the long run, however, this disruption to bank business models works in the interest of customers and the general populace. I therefore congratulate Standard Chartered Bank on unveiling this revolutionary digital initiative as I believe that with such innovations, we are making significant progress in embracing technological changes and digitization to help us achieve stable and long-term growth.” He concluded.
The Guest of Honor, the Minister of ICT and National Guidance, Hon. Frank Tumwebaze on his part also congratulated Standard Chartered Bank upon this milestone saying that he has no doubt that ICT is the backbone of banks’ services and that what is being witnessed is anirreversible era of transformation. He committed that the Ministry of ICT and National Guidance will continue to support the drive to shift the mindset of the citizens and different sectors to embrace digitization and encouraged financial service providers to embrace digitization in order to remain relevant in the coming decades.
Hon. Tumwebaze further stated in his speech that;
“The banking industry in Uganda has undergone tremendous changes linked with the developments in ICT in the recent years. As the Ministry of ICT, we are very pleased to see the progress banks continue to make by introducing better digital products. Today, we have witnessed the launch an all-encompassing Standard Chartered Mobile App that will give its clients access to all banking services at their convenience and with significant efficiencies! This is a first in the Ugandan market and a welcome development. I applaud the Bank for its innovativeness”. He ended.