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Standard Chartered Botswana leans towards digital to edge out competition

Standard Chartered Bank Botswana intends to roll out more innovation and leverage digital platforms to extend its digital presence and capitalise on increasing demand.

In an introduction of the Bank’s half-year financials, Mpho Masupe, Standard Chartered Botswana’s Managing Director, said, “The innovations in our digital platforms are bearing fruit, our cost of acquisition and servicing is declining.”

Masupe added that digital partnerships with third party service providers inked to ensure ease of access for clients have also started to gain momentum.

Over the past years, Standard Chartered Botswana has launched Bank2Wallet functionality in partnership with the country’s mobile network operators - Mascom, Orange and BTC, to allow customers to directly send from their bank accounts or credit cards to any mobile wallet and vice-versa.

Masupe revealed that the bank will continue to invest in other payment capabilities, adding that an enhanced client value proposition will be introduced, pivoted on personalised wealth solutions to help individual clients grow and manage their wealth.

“The segment (individual clients) will continue to drive the digitisation agenda through the introduction of more self-service offerings which will accelerate growth into the future,” said Masupe.

On corporate commercial and institutional banking (CCIB), Masupe said the bank continues to invest in digital channels by adding more features to its Straight2Bank next gen platform such as a digital trade counter which allows clients to upload trade documents and request financing anytime, anywhere.

Another addition is trade track IT, a new functionality that allows clients to monitor the status of their financing request and a Straight2Bank mobile app to allow full access for corporate clients on-the-go.

“Digital transformation continues across our financial markets platform as we migrate our clients into S2BFx to provide a seamless digital experience. These investments will return a sustainable pay off into the future,” said Masupe.

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