Standard Chartered Bank - Hong Kong wins 2 accolades at the ABF Awards | Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis
,Hong Kong

Standard Chartered Bank - Hong Kong wins 2 accolades at the ABF Awards

The bank was recognised for their digital innovations, significant income growth, and enhanced customer satisfaction.

Standard Chartered Bank - Hong Kong received the International Retail Bank of the Year and Digital Banking Initiative of the Year Awards for Hong Kong in the Retail Banking Awards 2020, presented by Asian Banking and Finance magazine.

Always striving for excellence and keeping clients at the heart of their organisation, the multinational banking and financial services company concentrated on incorporating digital transformation to their operations and streamlining processes.

Their new array of cutting-edge offerings in their digital platform earned them the Retail Bank of the Year Award alongside enhanced productivity and client services.

Incorporating an omni-channel platform across the bank’s staff-assisted and digital touchpoints, Standard Chartered digital active clients are uplifted to 56%, which is outstanding among peers with the overall digital active base YoY growth amounting to 25%.

Meanwhile, their mobile active client base expanded by 47%, which can be attributed to the constant efforts in migrating functions from online to mobile. Growth in the digital active base persisted in Q1, increasing to 3% QoQ

Amidst macroeconomic challenges, they managed to transform and disrupt the industry with their digital initiatives by beta-testing virtual banking in Hong Kong and digital banks in nine African markets.

Their new offerings in their digital platform also garnered Standard Chartered the Digital Banking Initiative of the Year Award.

The bank boasts omni-channel methods of virtual and human assistance through their Virtual Assistant Stacy, My RM ,and Chat with Live Agent options.

They have also developed enhanced digital wealth platforms, with a unique FX membership reward scheme and individualized market updates as well as an online UT selection according to categories and specialists’ choice.

Apart from this, Standard Chartered has also enabled cardless cash withdrawal via QR code, which reduced withdrawal time by half to 20 seconds as well as mobile keyboard banking through SC Keyboard, which caters to delivering payments and checking balances in any application. Both can be added to the roster of first-in-market achievements of the awardee.

Standing at the forefront of investing and incorporating client demands in their digital transformation journey, the bank’s new digital capabilities are designed to rise to the needs of clients and better serve customers.

Despite the pandemic, Standard Chartered clients can still oversee their investment and finance in the safety of their homes through services that are both human-oriented and digitally progressive—another testament to the bank’s successful digital transformation journey.

Click here to see the full list of winners.

The Retail Banking Awards, presented by Asian Banking & Finance magazine, was held via video conferencing throughout the whole month of August.

This year’s nominations were judged by a panel consisting of Liew Nam Soon, ASEAN Managing Partner, Markets at Ernst and Young; Ho Kok-Yong, Partner, Leader and Financial Services SEA & Singapore at Deloitte & Touche LLP; John Dovaston, APAC Financial Services Leader at PwC; Chia Tek Yew, Head of Financial Services Advisory at KPMG, Gabriel Seow,
Audit Partner at BDO LLP, Singapore; Justin Tan, APAC Financial Services Partner at Mazars; Sean Choo, APAC Financial Services Partner at Mazars.

If you would like to join the 2021 awards and be acclaimed for your bank’s groundbreaking products and services, please email Julie Anne Nuñez at 

Get Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Shares were priced at the top end, at KRW39,000 ($34).
In January, 1.2 million transactions were carried out via the SGQR.
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
But less than half of consumers are impressed with the digital financial services currently offered.
Treasury teams can mobilize liquidity and fund intraday payments in real-time.
Customers have the option to pay their tax balances in full or partially.
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
SmartStream’s Peter Hainz and Amazon Web Services’ Anna Green shared their insights on the advantages of on-demand and highly scalable cloud environments for banks and other financial institutions, as well as the factors hindering its adoption in the region.
This August, the Asian Banking & Finance and SAP will provide insights on the evolving landscape for ESG in financial services.
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
It opens up new revenue models and lowers the cost-to-serve.
Bypassing credit cards, the payment instalment options prove to be attractive.
More banks and institutions are exploring its use for payments and cross-border transfers.