Tanzania: Standard Chartered Wins Best Digital Bank Award in Tanzania

Dar es Salaam — Standard Chartered Bank Tanzania has today emerged winner of Best Consumer Digital Bank in Tanzania, Global Finance has announced.

This is the third time that Standard Chartered Bank Tanzania is winning this prestigious award from Global Finance.

Commenting on the award, the Bank's Head of Retail Banking Ajmair Riaz, said that the Bank is delighted to have won the award for the third time in a row highlighting that the recognition goes a long way to cement the uniqueness of the Bank's digital capabilities.

Mr. Riaz added that last year in February the bank launched the country's first full digital bank on mobile which has seen the bank's clients' base grow to over 380 per cent as by the end of August, 2020 which has led to expanding banking services to more Tanzanians which is aligned to the government's focus on deepening financial access.

"We are delighted and honoured to have won the Best Consumer Digital Bank Award in Tanzania for the third timein a row. This goes a long way to cement the uniqueness of our digital capabilities in the retail banking space," said Mr Riaz.

He added: Last year we launched Tanzania's first full digital bank on mobile on which accounts are opened end to end without requiring our clients to come the Bank at any point in time, including verification purposes.As a result we have seen a growth of tens of thousands of clients since the launch on 19th February, 2019. The Digital Bank offers more than 70 banking services and is aimed at giving our clients exceptional convenience, affordability, security and a lifestyle..

The Global Finance winners include Best Consumer Digital Banks, Best Corporate/Institutional Digital Banks and the Best Islamic Digital Banks at the country level.

Winners were selected in Africa, Asia-Pacific, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe. Also announced were Regional winners in Sub-Categories such as Best Information Security and Fraud Management, Best Mobile Banking App and Most Innovative Digital Bank.

Winners were chosen from entries evaluated by a world-class panel of judges at Infosys, a global leader in consulting, technology and outsourcing. The editors of Global Finance were responsible for the final selection of all winners.

Only banks that entered the competition were considered for awards, and awards were only given in those regions, countries and categories in which there were entries.

Winning banks were selected based on the following criteria: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality.

In addition to winning the Award in Tanzania Standard Chartered Bank also won the Best Consumer Digital Bank Award in Botswana, Cote d'Ivoire, Ghana, Kenya, Nigeria, Uganda and Zambia.