StanChart Keeps Affluent Clients Engaged Amid Border Closures

The bank is deploying digital functionalities to keep clients stay engaged with relationship managers and investment advisors while travel is halted.

Since April, almost half of its affluent clients have been using the bank’s My RM app, with significant usage from International Banking clients, Standard Chartered said.

Embedded within its online and mobile banking platforms, My RM allows file sharing, screen sharing, and audio call functions, so clients can interact with their relationship managers directly, schedule appointments, and authorise investment transactions securely anywhere.

With over 30 percent of the bank’s affluent clients in Singapore being international, having the right channels to stay in contact with clients is crucial, especially during these times, the bank said in an announcement on Friday.

International Banking is a growing business for Standard Chartered with assets under management growing 30 percent over the past year, despite headwinds, according to the bank.

To cater to this growth and tap on Singapore’s reputation as an international wealth hub, Standard Chartered plans to double its relationship managers and double its International Banking business in the next five years.