Tanzania: Standard Chartered Bank Unveils First Digital Branch

Dar es Salaam — Standard Chartered Bank Tanzania has launched the first digital bank branch in Tanzania that aims to enhance convenience for its customers.

The digital branch - which is located at the Shoppers Plaza in the Mikocheni area of Dar es Salaam - was formally launched by the Deputy Governor of the Bank of Tanzania (Financial Stability and Deepening), Dr Bernard Kibesse.

The bank's CEO, Mr Sanjay Rughani, said in a statement availed to The Citizen yesterday that the digital branch was the first of its kind in Tanzania. It enables customers to perform self-banking services such as depositing and withdrawing cash, making online transactions, depositing cheques and other banking services.

In tandem with launching the digital branch, Standard Chartered Bank also launched agency banking titled 'Standard Chartered Wakala'.

"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 promotes socioeconomic development," he said.

The digital branch will offer the bank's customers an enhanced experience when performing their banking services.

"Our digital branch will have a combination of technology as well as human interactions. We believe in embracing digital with a human touch," said Mr Rughani.

"Again, the introduction of our agency banking services is designed to enhance livelihoods while providing convenient and reliable services to customers."

Dr Kibesse commended the Standard Chartered Bank for being the first bank to set up a digital branch in the local banking industry.

"It is important to recognise that digital branches are an opportunity for banks to offer banking services in a different manner - thus enhancing customer experience," he stated. He urged other banks to emulate Standard Chartered by also establishing digital branches to improve efficiency and offer a unique customer experience.

He also applauded Standard Chartered Bank for launching agency banking services which will enable its customers to access banking services outside the bank's branch network.

The bank's head of Consumer, Private and Business Banking commented that "The digital branch will offer our customers the option to have self-banking services - or get assistance from one of our staff members who would also be present at the branch."

On another hand, he said the launch of the agency banking is designed to further extend their footprint beyond their branch network and amplify digital banking proposition.

"We are planning to onboard 50 agents for agency banking by end of this month," he unveiled.

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