SC Malaysia aims to grow its digital banking adoption rate to 65pc

Standard Chartered (SC) Malaysia aims to grow its online and mobile banking platforms digital adoption rate to 65 per cent by 2022, fulfilling its strategy to become a digital, agile and lean bank.

SC said its online and mobile banking platform has consistently increased over the years, with close to half of the bank’s clients performing their common banking transactions online.

SC Malaysia, country head of retail banking Aaron Loo said technology was at the heart of the bank’s strategy – driving efficiencies, increasing automation, reducing manual errors and strengthening how the bank combat financial crime.

“This is driven by the desire to serve our clients more effectively and efficiently by giving them more convenience, choice and security,” he said in a statement today.

Loo added clients can now perform their transactions in an instant with digital banking, transforming the entire client experience.

“Yet, when they need a helping hand they can also reach out to any of our branches for a more personalised experience. Our goal is to become a Digital Bank with a Human Touch,” he said.

According to a 2018 study by McKinsey & Company on Asian banking in the age of the digital customer, the banking landscape is changing rapidly with digitally active customers doubling in emerging Asia and growing 1.2 times in developed Asia.

SC noted that the percentage of digitally active customers has grown significantly since 2014, doubling in Emerging Asia (to 25 per cent of the population) and growing 1.2 times in developed Asia (to 85 per cent of the population).