Tuesday, November 24, 2020

Standard Chartered Bank Botswana makes strides in 2013

Standard Chartered Bank Botswana Limited (SCBB) said in 2013, it strengthened its customer offering for SME Clients with a new customer value proposition built around working capital, business expansion, business protection and yield enhancement.

The proposition also included solutions to manage uncertainties and growing international trade, along with dedicated service and an on-line banking platform tailored specifically for SMEs.

In line with the key priorities that the Bank had set for 2013, some of the focus areas that Consumer Banking concentrated on included building stronger relationships with clients and customers by creating deeper, more resilient and economically sustainable relations whilst ensuring the best service delivery.

“The bank has a rich heritage both in Botswana and globally, with over 150 years in existence. Leveraging on this strong global brand and intensifying collaboration across the network, we are able to offer our customers world class capabilities as well as provide them with better solutions in anticipation of their needs and market trends,” said SCBB head of Consumer Banking Duncan Woods.

Woods pointed out that to further demonstrate their commitment to ensuring that customers’ needs are met at all times, the bank also launched construction mortgage, re-introduced auto loans and added Tema savings account to its suite of services.

He added that the bank is committed to serving its customers and that has resulted in the Bank being recognised in three prestigious awards as Best Bank in Botswana in 2013 by Global Finance, the Banker and EMEA. “I am proud of the hard work of our staff to deliver high quality service to our clients, which has been recognised in this accolade”.

“In the area of innovation and digitisation, we sought to infuse every aspect of what we do with a spirit of innovation, and an awareness and enthusiasm for the power of technology. We also were looking to prove that we are indeed ‘Here for good’ by demonstrating that the decisions we make in running the business embody an awareness and commitment to our social purpose. On the people agenda we continued to attract and retain the best talent,” he said.

Woods is of the view that Botswana still has more of a borrowing than a saving culture, adding that the bank have been taking steps to encourage its customers to save. He said over and above it is their scheme savings account, which makes saving easy and attractive for employees of the bank’s scheme clients.

“Customer adoption of digital channels could happen faster, so as to allay long queues in branches. Our challenge in this area has been less than many banks, as our strategy to migrate customers to digital channels is working well but we intend to do more of that to make sure our customers receive quick service when they come to our branches,” said Woods.

He emphasized that the relocation of the Diamond Trading Company is a very positive development for the economy of Botswana and they are excited about the creation of the new industry that flows from the beneficiation process. He pointed out that currently, Standard Chartered Bank is the leading financier to the diamond sector in the country adding that the DTC relocation will provide even bigger opportunities to our Corporate Banking division.

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The Telegraph November 25

Digital edition of The Telegraph, November 25, 2020.