Standard Chartered launches ‘bank on an iPad’ sales-and-service tool
KUALA LUMPUR, 8 March 2016 – Standard Chartered Bank (“the Bank”) today announced the global launch of its award-winning
Retail Workbench, a digital tablet-based sales-and-service tool that “brings the bank” to clients.
Malaysia is one of the first six markets to go live with Retail Workbench, the others being India, the UAE, Bangladesh, Nigeria and Kenya.
Seamlessly integrated with the Bank’s back-end infrastructure,
Retail Workbench allows sales staff to open an account for a client in any location. Banking services such as loan approvals and credit card issuance will be fast, simple and completely paperless.
Aaron Loo, Country Head, Retail Banking, Standard Chartered Bank Malaysia, said:
“Banking should be easy and convenient — that’s what the
Retail Workbench is all about. We are harnessing technology to make banking a seamless experience for both clients and staff. Going paperless fits into the increasingly mobile lifestyle of our clients while improving cost efficiency and productivity by freeing up staff’s time to focus on what really matters, which is serving the client.”
Retail Workbench will bring the following benefits to clients.
- The bank on an iPad: Retail Workbench puts a set of current and savings account, credit card and personal loan products on one mobile platform — along with product information and marketing brochures — so sales staff can answer questions and respond to client needs in person, at any location.
- Truly anytime, anywhere banking: With a fully digital device, we can process client requests from anywhere, with the data moving straight through to the Bank’s back-end operations in near real-time. Previously, sales staff could visit clients in person but the paperwork had to be manually entered into the Bank’s systems back at the branch or Bank’s premises.
- Fewer forms, fewer hassles: Clients only need to give their personal data to the bank once to create a profile that can be used for future purchases. Sales staff uses the iPad’s built-in camera to securely snap a picture of identity documents so there is no need to fill out multiple forms and no missing data.
- Faster turnaround: Retail Workbench works at the speed of digital; that means faster turnaround times for client requests.
Retail Workbench revolutionised the banking industry in Korea when it was launched in 2014, cutting account opening time in the digitally advanced country to five minutes and credit card issuance to less than half an hour. It has since won numerous industry awards for innovation and outstanding client service.
Due to differences in local infrastructure, turnaround times and other features of
Retail Workbench will vary across the seven markets following the global launch. The Bank will successively add capabilities and enhance performance in each market over the coming months and equip more sales teams with the device. By the end of 2017,
Retail Workbench will be in the hands of staff in 18 markets across Asia, Africa and the Middle East.
The global launch marks a milestone in Standard Chartered’s strategy of using digital technology to deliver a better banking experience to clients. The Bank last year announced it will invest US$1.5bn in technology over three years. Standard Chartered was named the World’s Best Consumer Digital Bank in 2015 by Global Finance magazine and also won Best Consumer Digital Bank in Malaysia in 2010, 2014 and 2015.
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