Standard Chartered offers online services

Standard Chartered Bank Vietnam illustration photo

This move is in-line with the fact that clients and customers today expect maximum simplicity in their transactions from the comfort of their homes or through their smartphones.

They also expect their transactions to be processed efficiently, error free and with the highest level of security, while banks have to strike a balance between client needs and regulatory requirements.

“The biggest obstacle for banks is their mindset. The new digital generation thinks and behaves very differently than we did in the past. Internet, smartphones and social media have revolutionised the whole paradigm of banking and payments,” said Standard Chartered Vietnam’s CEO Nirukt Sapru.

Investment and growth into digital banking is now at the top of Standard Chartered’s agenda worldwide and in Vietnam. This focus was recognised when the bank was named Best Consumer Internet Bank in Vietnam for the third consecutive year by Global Finance Magazine, a world leading economic and financial publication.

 “This clearly established Standard Chartered as the leader in the digital arena. Vietnam is a fast growing country with a young, literate, and internet savvy population. It is only natural that they have online and mobile conveniences. As a result of this insight, we invested early in the right capabilities,” Sapru explained.

Standard Chartered Vietnam reported that it has consistently upgraded its digital platform for online and mobile banking, SMS, and ATMs. Customers can now make local and overseas transfers, create term deposits, pay bills at ATMs, and sign up for automatic payment of their phone, mobile and internet bills. They can even apply for personal loans online and get approval in 24 hours.

“With digital, any person with a mobile phone can be a customer, it’s that simple. The digital platform also drastically reduces the time and cost of doing banking, which can then be passed on to customers through fee reductions. It’s a win-win for both banks and customers,” said Nirukt.