Standard Chartered Bank Recognised As Best Overall Digital Bank, Kenya

Standard Chartered Bank has been named the best overall bank 2020 in Kenya by the recently released Kenya Bankers Association 2020 Customer Service Survey. The survey done by the association had over 15,000 respondents, including 455 persons living with a disability (PWDs), and covered all the Kenyan counties.

The bank also emerged Overall Best in Responsiveness and Digital Experience in 2020 in the tier 1 category. This was based on feedback from 90 per cent of respondents who ranked the various banks based on the quality of their digital banking offering and overall innovativeness. The bank was lauded for a superior digital banking experience with convenience, efficiency, ease of usage, friendliness of user interface and security cited as the critical factors determining overall user experience.

Commenting on the Award, Edith Chumba, Standard Chartered Head of Consumer, Private, Business Banking for Kenya and East Africa said, “the award reflects the commitment that the bank has made to continuously evolve and grow with our clients for the long term. Our banking experience is pegged on a seamless and safe customer experience which meets clients at their point of need. Our clients are demanding faster and more convenient banking and the rapid adoption of our digital banking solutions is a clear indication that we are on the right path towards becoming a digital leader in the industry. We will continue to innovate and design digital products and services that accelerate the growth and transformation of the banking experience across all our markets.”

Remarking on findings from the survey that digital banking channels recorded the highest usage among customers, especially in the wake of COVID-19, she added, “The pandemic accelerated digitisation in most industries and the banking sector while being early adopters of technology, also had to acclimatise. While the changes driven by the pandemic have been drastic, financial institutions should take the opportunity to leverage on technology and their resources to create partnerships, products and services that are customised and relevant for consumers. Resilience and agility will be key for financial institutions going forward.”

This is the third time Standard Chartered has received the KBA Best Overall Bank award and is a testament of the bank’s commitment to its customers through seamless services, customised products and continuous innovation. The bank launched its digital banking platform in 2019 with more than 70 digitally accessible services to its customer, with its versatility granting the bank opportunity to further scale and introduce other functionalities to enable ease and convenience for customers. Today, 89 per cent of retail banking transactions are conducted through non-branch channels and close to 83 per cent of the bank’s clients are utilising the banks’ Straight2Bank platform.