With the roll out of Straight2Bank Next Gen, Standard Chartered Botswana expects greater penetration in the market.

This is according to CEO Mpho Masupe who added that there has been a significant increase in the use of the Bank’s digital platforms.

Announcing the company’s audited financial results for the year ended 31 December 2020, Masupe said: “Our SC Mobile app continues to entrench its foothold in the market, reaching further into the country and demographics that are new to the banking sector. Coupled to this, our roll out of express banking centres is gaining momentum and supporting the efficacy of our digital platforms.”

Straight2Bank is the Bank’s one-stop proprietary electronic banking channel for corporate and institutional clients that provides cash, trade, foreign exchange and securities services, launched in 2007.

Masupe described how its digital innovations have added value to client banking services amid the ongoing COVID-19 pandemic.

“Our digital innovations showed the depth of their relevance during the lockdowns and movement restrictions, allowing our clients to bank seamlessly from the safety of their homes,” said Masupu.

Meanwhile the bank’s non-funded income base was expanded during the year with a successful rollout of cash depositing machines across the country, a main feature of the bank’s reconfigured client interface centres - Express Banking Centres (EBCs).

“These unique hybrid channels come with increased convenience for clients, but a lower cost to the bank,” said Masupe.