SCBB Digital Banking: A first for Botswana

Standard Chartered Bank Botswana (SCBB) introduced its newest innovation in the form of a Digital Banking platform during a soft launch to invited journalists. The initiative, which was put in place about 93 days ago, “enables customers to open an account within 15 minutes from their mobile phones,” explained  Kunda Neill, Acting Head for Corporate Affairs and Brand Marketing during a briefing.

“During  the past 93 days we have been banking customers in places where we don’t even have a physical presence and have delivered debit cards in 48 hours in those places after they opened their accounts. So far 62% of accounts have been opened by customers between the ages of 18-32. Futhermore, 60% of the accounts opened since launch have been opened by men and the remainder by women. For us digital banking has opened a new way of thinking.” 

According to the activation team present, about 20 Botswana companies have so far “jumped on board to do business with this new digital banking” and theses include those that are in the hospitality, beauty and wellness and lifestyle sectors. 

“This has opened up a great new opportunity of working with Batswana. We also offer over 70 services directly from the SC Mobile Botswana App. We are also giving people access to loan facilities and other banking products. The platform is more user friendly as well. There is no minimum salary requirements, you get free access to online banking as well as free electronic statements. You get free 2GB data on successful account opening and an additional 2GB data once you fund the same account.”

The digital banking leveraged partnerships with other corporate entities in the digital space that include BTC and Orange. “There will be zero-rating of the app which mean you will be able to transact with having to part with any charges and also one must have a phone that has a password lock on it so that no unauthorised person can access the account. The platform also allows for one to do a bank-to-wallet transaction seamlessly, with wallet-to-bank functionality due in soon.”

SCBB said they have embarked on a drive to upgrade all their ATM machines to be the First Generation machines which is going to be another first for the country. Asked about threats to the new digital banking, Neill said “We are seeing an application that is delivering on its promises and we have a team that is working day in and day out that is there to monitor any attempts to hack the accounts of our customers.” 

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