Standard Chartered plans fingerprint tech this year

Rolls out mobile, online banking platform this month
Standard Chartered Bank said it would launch a fingerprint recognition technology in its eight-country markets across Africa in the second half of the year, giving clients a more secure and convenient way to log in to their accounts.

Besides, it is bringing its newest mobile and online banking platform that would upload its one million clients across its footprints in the continent- Botswana, Ghana, Kenya, Nigeria, Tanzania, Uganda, Zambia and Zimbabwe.

The project, which is described as the most extensive digital rollout of its kind in Africa by an international bank, is also supported by the bank’s global-standard technology.

According to the lender, clients will enjoy a consistent online experience across laptops, tablets or mobile phones, and the convenience of banking from the location of their choice.

It reiterated that after the rollout of mobile and online banking platform in the first half of 2016 ending this month, it would be followed by the launch of fingerprint recognition technology in the same markets later in the year.

“We’re bringing the best in mobile banking to Africa– consumers across the continent are increasingly affluent and tech-savvy and they want convenient access to their bank, wherever they happen to be. Africa is important to Standard Chartered and this launch is another demonstration of that,” the bank’s Chief Executive Officer for Retail Banking, Karen Fawcett, said.

“We are committed to making banking easier, faster and safer for our more than one million retail clients across Africa. This multi-country rollout is in line with our promise to bring world-class products and functionality to Africa, consistent with the trends and progress we are making in our international markets in Asia and the Middle East.

“By early next year, we expect at least 35 per cent of all client transactions to be done through online channels; significantly advancing the transformation of banking in Africa,” the Regional Head of Retail Banking for Africa and the Middle East, Jaydeep Gupta, said.

The Chief Executive Officer for Nigeria and West Africa 1, Bola Adesola, added: ‘We are reiterating our commitment to our clients to provide the best in-class services and solutions for their banking needs.

Nigeria is an integral market for Standard Chartered Bank and with such innovative banking technologies, we are positioning ourselves as the bank of choice for existing and potential clients in this new era of digital banking.’

The bank in a statement, noted that the launch is central to its strategy of using digital technology to deliver the future of banking to clients in Africa, as it last year, announced a plan to invest $1.5 billion in technology globally over three years.

With Africa’s mobile penetration estimated to be around 67%, the launch brings Standard Chartered Mobile, Standard Chartered’s mobile banking application to Botswana, Kenya, Uganda, Tanzania, Zambia and Zimbabwe for the first time. In Nigeria and Ghana, mobile banking clients will move to the Bank’s standard global platform. Through Standard Chartered Mobile, clients can check balances, transfer money and pay bills securely, all through their smartphones.