Standard Chartered Bank unveils Video banking services

Already there are fears that the bank may freeze employing new staff or even fire some altogether.

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Standard charted bank has unveiled the first video banking services in the country, in a grand ceremony yesterday the bank  launched the video services after proofing successful in Asia.

“Video banking is about giving our clients choice and more convenience. Now you don’t have to come to a branch and talk to someone face to face” Standard Chartered Kenya CEO Lamin Manjang said.

The video banking services is expected to boost efficiency for the bank and probably have a bearing in their end year financial reports.

The video banking services is part of the banks $1.5 billion (Sh150 billion) global investment in technology drive announced last year.

“We are investing in technology that makes banking secure, simple and personal for our clients”  Mr. Manjang added.

Standard Chartered customers will be able to use the video services via the bank website between 9am and 6pm from Monday to Friday.

The video banking programme is part of the bank cutting costs in the face of harsh economic conditions occasioned by the capping of interest rates.

Already there are fears that the bank may freeze employing new staff or even fire some altogether like in 2015 when it let go about 167 employees.

Mr. Manjang has however downplayed fears of sacking adding that their staffs have already been trained in how to use the new service.

This is not a first for the bank though; in 1989 the bank was the first bank in Kenya to introduce ATM machines starting with Nairobi’s Kenyatta Avenue branch.

“financial institutions must invest in improving financial crime governance and control framework, whereas this will require significant investments in IT upgrades and improved data handling, it will be a long way in protecting data”  ICT CS, Joe Muchure added.

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