Governor State Bank of Pakistan visits Standard Chartered’s digital branch

Karachi, April 13, 2015 (PPI-OT): Governor State Bank of Pakistan, Mr. Ashraf Mahmood Wathra visited the first Standard Chartered Pakistan digital branch at Dolmen Mall, Karachi. While congratulating the Bank for taking this innovative initiative, the Governor said that Standard Chartered’s branch is yet another step towards enhancing our growth in digital capabilities.

The Governor visited the branch offering an unprecedented ambience by pioneering the best-in-class digital capabilities in the Pakistani industry. With this launch, Standard Chartered once again combines its international expertise in digital banking with its local knowledge to bring together a unique offering unlike any in the market.

Clients can walk into the branch to a unique state-of-the-art iDesk which displays a host of information for clients to browse, including product promotions, brochures for the complete product suite, branch and ATM directory amongst others. The branch also flaunts an Online Banking kiosk, ATM, CDM and CDK machines, digital product posters, electronic media wall and a touch screen notice board.

The Governor remarked that Pakistan’s branchless banking policy initiatives and businesses, have won global recognition. ‘Pakistan, today, is one of the largest potential branchless banking growth markets in the world and ranked among the top three along Brazil and Kenya,’ he said.

Mr. Ashraf Mahmood Wathra highlighted the robust growth of digital financial channel in Pakistan, which experienced 17% growth in ATM network and 16% growth in number of plastic cards. The Governor stated that increased usage of online banking services day by day indicates consumers trust on digital banking channels in the country.

Commenting on the branch, Governor State Bank of Pakistan appreciated the efforts taken by Standard Chartered to promote digital banking in Pakistan by launching a fully digitally capable branch. He stated that conventional brick and mortar bank branch model is not sufficient to cater to the financial needs of the entire country’s population spread across vast area. Therefore, Alternate Delivery Channels like e-banking and mobile money are serving as emerging technological services that can extend the footprint of the banking channel to the farthest corners of the country.

The Governor was confident that SBP and the Banking industry are fully synchronized to proceed in the right direction in creating a digital financial eco system which would not only pave the way towards establishment of a Cash-Lite Society, but would also smoothen the path to achieve the strategic goal of broader national financial inclusion.

Commenting on the occasion, Shazad Dada, Chief Executive, Standard Chartered Pakistan said, “In line with global trends where client preference is continuously shifting towards digital channels as compared to a uni-dimensional brick and mortar setup, Standard Chartered has employed an integrated multi-channel strategy investing heavily in the digital space. I am proud that we have taken the lead in the Pakistan Banking industry, by offering digitally innovative solutions.”

Standard Chartered has always been at the forefront in launching technology solutions to provide convenience and improve client experience using channels of the future such as the Internet and the mobile phone. Standard Chartered’s mobile banking application, Breeze Mobile, is one of the leading mobile banking applications in the industry in Pakistan and in several other Asian countries.

Standard Chartered has been a front-runner for investing in the digital space in Pakistan. It has over 400,000 facebook users on Standard Chartered Pakistan page. The bank’s digital transactions account for a significant percentage of all transactions done in the bank today.

Standard Chartered is the market leader in IBFT transactions via digital channels, along with the best in class net promoter score (NPS) in the industry on alternate channels (ATM, Phone Banking, Internet Banking). The Dolmen mall branch remains open for extended banking hours during weekdays, as well being open throughout the weekend to service clients in and around the vicinity.

For more information, contact:
Farhan Ahmed
Head of Corporate Communications
Standard Chartered Bank (Pakistan) Limited
1st Floor, New Jubilee Insurance Building,
I. I. Chundrigar Road, Karachi
Tel: +92-21-32450239
Cell: +92-334-3239399

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