Standard Chartered Provides Instant Loans

Our clients are highly engaged digitally. We have seen a 33 percent quarter-on-quarter growth in new mobile active clients, as our clients look to do most of their banking activities digitally, from application to activation to service requests and payments,» said Natalia Goh, Head of Credit Cards and Personal Loans, Standard Chartered Bank Singapore, in a press release on Tuesday.

Since last year, the bank has seen twice the number of digital service requests from clients, such as card activation, replacement, and renewal requests, as well as reporting of lost cards.

In addition, we see that our clients are increasingly comfortable with digital payments, with the number of mobile wallet transactions growing more than 80 percent in the past year. With this shift towards an increasingly digital lifestyle, we believe that our instant digital credit card and loan disbursement capabilities will greatly enhance the overall client experience,» Goh added.

The new capability is powered by the bank’s real-time onboarding platform, which leverages on MyInfo, Singapore’s national database, to help new clients save a significant amount of time usually needed on lengthy form-filling. For clients who do not currently have a credit card or bank account with the Bank, MyInfo will help to pre-populate most of the information in the application form. Clients who hold existing credit card(s) with the bank will have a simpler and shorter form to complete.