Stanchart talks video banking and employee retrenchment

stanchart bank loans kenya
Stanchart bank branch
Liman Majang,the Standard Charted Bank (Stanchart) East African Regional Manager announced on Monday that the bank will soon start using video banking in a bid to embrace more technology in its service delivery.

This move comes after Standard Charted PLC, the parent company based in the Uk set aside a substantial amount of  money to improve technology in service delivery dubbed Digital Migration within all its worldwide subsidiaries.The plan will be fully attained in a span of three years.

Mr Majang said that apart from the sc mobile banking app,online banking and ATMs, video banking will make clients communicate with the bank employees at the convenience of their homes through laptops, tablets or smartphones.The already existing ATMs will also be upgraded to accept bulk deposits.

Employees Retrenchments
The introduction of video banking will see less customers vising stanchart bank branches physically. This will leave most tellers and customer care desks with less to no work at all.Its expected the work load at the branch will fall by 45%.This fall in work load will therefore call for employee retrenchment a scenario full backed up and recommended by the stanchart headquarters in London.The lenders will then expect a heightened profit margin by the end of the digital migration.

Digital banking.
Digital banking increase efficiency, accuracy and speedy delivery of services in the banking sector among other factors. Diamond Trust Bank (DTB) kenya launched a digital branch last month at the garden city in Nairobi. DTB boss Mr Shah saw the official opening of the branch where customer would do bulk deposits at the ATM lobby,use fixed tablets and touch tables.

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