Standard Chartered brings “Bank on an iPad” to new markets
Retail Workbench
Standard Chartered has launched its “Bank on an iPad” sales and service tool in Asia, Africa and the Middle East.
Called Retail Workbench, it is a digital tablet-based sales-and-service tool that “brings the bank” to clients.
It is integrated with the bank’s back-end infrastructure, and will allow sales staff to open an account for a client in any location. Standard Chartered says banking services like loan approvals and credit card issuance will be completely paperless.
Retail Workbench is now going live in six markets: Malaysia, India, the UAE, Bangladesh, Nigeria and Kenya.
Standard Chartered says this launch demonstrates its digital technology strategy in progress – last year it announced it will invest $1.5 billion in technology over three years.
Retail Workbench was launched in 2014 in South Korea, where the bank says it cut account opening time to five minutes and credit card issuance and personal loan application and disbursement to less than half an hour.
Due to differences in local infrastructure, turnaround times and other features of Retail Workbench will vary across the six markets following the global launch.
Standard Chartered says it will successively add capabilities 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.
