Standard Chartered Bank Sets Up First Digital Branch

Standard Chartered Bank has set up its first digital branch in Karachi at Dolmen Mall where clients can walk into a unique experience to have banking services with online banking kiosk, ATM, CDM and CDK machines, digital product posters, electronic media wall and a touch screen notice board.

The branch contains state-of-the-art iDesk which displays a host of information for them to browse, including product promotions, brochures for the complete product suite, branch and ATM directory amongst others.

The digital branches will be set up across major cities in Pakistan and will allow a seamless banking experience

This is the first digital branch in Pakistan having services par with global standards, said an official. These branches will be set up gradually in major cities of the country including Lahore and Islamabad as per demand.

Standard Chartered Bank already set up its digital branches in many countries and now it is expanding its hi-tech branch in Pakistan which is expected to receive good response due to utility of internet services by increasing number of customers. It has already installed various hi-tech machines in various branches where customers could operate their transactions without any help of banking official.

The bank has been investing in the digital space in Pakistan whereas it is shutting down its conventional branches in many parts of the country. The bank has employed an integrated multi-channel strategy investing heavily in the digital space.

Standard Chartered is investing in the digital space in Pakistan while shutting down its conventional branches 

This is part of the Bank’s global focus on ‘Digitisation’ – socialising personal banking and extending clients’ digital lifestyle into banking, claimed Shazad Dada, Chief Executive, Standard Chartered Pakistan. He added:

Today, we are the market leaders in IBFT transactions through digital channels with the best in class ATM and Online Banking solutions in the industry. Digital solutions are the future of banking and Standard Chartered is leading the way in making digital channels an important and integral part of the way clients bank

The bank’s digital transactions account for a significant percentage of all transactions done in the bank today. Standard Chartered is believed to be a market leader in IBFT transactions via digital channels, along with the best in class net promoter score (NPS) in the industry on alternate channels (ATM, Phone Banking, Internet Banking).

  • I don’t know i should feel happy or sad about such technology news. But the matter of the fact is its very alarming and may increase unemployment across the world. people may have to work really hard to earn their bread ad butter.

    • It is practically impossible to replace all human interaction with machines. I believe these would be just a few branches across the country to facilitate customers.

      • I think it is very costly for them and they already closed so many branches. Barclays sold off it;s business. Here in Germany , if you apply for an online account , if you have some problem you cannot goto local branch for resolution , but have to call / email etc the online branch. The good side of going online is that , it has more features , free ATM cards etc no annual fee , and the downside is that , well , not as much support as one is used to.

  • there is no doubt SCB has one of the best digital/online banking system, i am using it from past 3-4 years and its best with better & user friendly UI .

    but yes if this digital branches got successful in Pakistan unemployment is on his way. i know many banking sector in term of jobs is already struggling.

    • I agree , i opened an account with them specifically for online transactions with the visa debit card and the transactions always went through. though they are charging like 800 PKR / year for atm card :S …

  • Majority of Pakistani found hard to even use the ATM machine, definitely it would take long time to replace the conventional banking :p

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