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Standard Chartered launches first digital bank branch in Tanzania

Standard Chartered Tanzania-IFM-image
StanChart has launched the branch to enhance convenience for its customers

Standard Chartered has launched its first digital bank branch in Tanzania to enhance convenience for its customers, media reports said. The branch is located at the Shoppers Plaza in the Mikocheni area of Dar es Salaam.

The digital bank branch launched by Standard Chartered Tanzania was formally launched by the Deputy Governor of the Bank of Tanzania Dr Bernard Kibesse.

Standard Chartered Bank Tanzania CEO, Sanjay Rughani told the media, “Digitisation remains at the heart of our business strategy. We have always been a digital bank, and constantly work to advance our digital banking capabilities that meet our clients’ demands, and promote socioeconomic development.

“Our digital branch will have a combination of technology as well as human interactions. We believe in embracing digital with a human touch. Again, the introduction of our agency banking services is designed to enhance livelihoods while providing convenient and reliable services to customers.”

Earlier this year, Standard Chartered’s banking unit in Indonesia entered into a partnership with the country’s largest digital lender Kredivo to offer Buy Now Pay Later (BNPL) loans to the mass market segment through digital means. The partnership was a result of the accelerating adoption of digital financial services in the country.

Recently, Standard Chartered has made strides in the BNPL segment in Asia. In this regard, Jeffrey Tan, Head of Consumer, Private and Business Banking (CPBB), Indonesia, Standard Chartered, told the media, “While Standard Chartered already enjoys a strong position in the retail affluent segment, we are strengthening and expanding our distribution channels to serve mass-market customers more efficiently.”

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