Standard Chartered accelerates strategic investment with aim to achieve 50% of income from digital initiatives and innovation

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Standard Chartered today updated investors on its innovation and digitisation strategy, explaining how it is shifting investment to new platforms, partnerships and ventures that will shape the future of the business, a pivot that is already demonstrating clear evidence of success.


  • Medium-term ambition for 50% of income to come from digital initiatives, innovation and transformation of its core
  • Re-balancing cash investments to spend US$1 billion on strategic initiatives each year, double previous levels
  • Medium-term ambition to grow our Retail and SME client base 5x
  • Medium-term ambition for volumes and payment-flow growth of 50x across its various new venture platforms

Today’s event demonstrates how innovation is core to Standard Chartered’s strategy, enabling the bank to transform itself to meet the changing needs of customers in the world’s most dynamic markets. Leaders from across the bank updated investors on the progress of new initiatives, through a series of showcases and videos which can be seen here.

This progress includes:

  • Strong tech foundations now in place: Straight2Bank platform now available in 42 markets; digital onboarding portal for Corporate Commercial and Institutional Banking clients is live in 9 markets
  • Rapid customer acquisition in new ventures: Hong Kong virtual bank Mox has passed 175,000 customers; our African digital banks have grown to 700,000 customers in two years, 75% of which are under 35 years old
  • Strong customer satisfaction indicators: Wealth Management app in China has a 5-star rating in the China app store; CardsPal is the #1 app in the lifestyle category in the Singapore app store

Over time, these initiatives will fundamentally reposition the bank to generate 50% of income from digital initiatives, innovation and transformation of the core banking business. Much of this will come from new and upgraded platforms and partnerships, supplemented by new business ventures.

In a related development, the bank today announced a 10-year, multi-product strategic partnership with Atome, Asia’s largest buy-now-pay-later platform.

Bill Winters, Group Chief Executive, said:

“This is a pivotal moment for the bank; we’ve increased our cash investment in strategic initiatives over the last five years and plan to double that to around $1bn a year. In our dynamic markets, customer demands are ever changing. We want to be the bank for economic growth, and so we will be a consistent and positive disruptor, thinking ahead and anticipating our customers’ needs.

We have a differentiated approach to innovation, rooted in the unique strengths of our footprint and experience, our strengthened technology core and broad partnerships. And with Mox, CardsPal, Solv and others we have some exciting evidence that it’s bearing fruit. Through strategic investments, we are transforming Standard Chartered and the way we do banking.”