Standard Chartered's CIO, Consumer Banking, Simon McNamara, talks to CIO Asia about the bank's approach to customer service innovation in light of game changing shifts in technology.
CIO Asia: In your view, what are the technology trends shaping consumer banking right now?
Simon McNamara: Over the past decade, innovation and technology convergence have changed how customers interact with their bank and manage their money. The evolution of the internet and, now, mobile technology have resulted in game changing shifts in consumer banking.
At Standard Chartered, we have been very focused on applying technology to improve the customer experience. It's about listening to what our customers are telling us about our services, and our products as well as understanding the things that really irritate customers when they a dealing with a bank and then working to develop solutions to deal with those pain points so we satisfy what our customers want in the best way.
We actively look at all technology that will allow our customers to interact with us more effectively. There is a lot going on in the mobile space so this area is particularly important. Adoption rates are speeding up. Technology innovation is speeding up. Customers are adapting to these new changes quicker and quicker. Banks need to as well. Standard Chartered has invested in technology to be at the forefront of new ways of doing business and this has resulted in recent service innovations such as our Breeze suite of mobile banking and lifestyle apps.
The development of financial services apps is really exciting. The uptake has been phenomenal and I think this is a really exciting space at the moment that represents a huge opportunity.
What are Standard Chartered's top technology priorities for consumer banking for the next 12 to 18 months?
While the bank has come a long way in terms of how we leverage technology to deliver service enhancements, we still have a lot to do. Our aim is to provide the best possible experience for the customers who choose to bank with us.
Right now, there are a number of projects underway with a lot of interdependencies so I would not say we have a "top" in terms of priority. No one project is more important than another. Rather, they all complement one another. We are absolutely focused on transactional convenience and delivering platforms that will give our customers the best banking experience.
The shift to enterprise mobility is also an important part of the bank's strategy. As you know, Standard Chartered is the first bank to adopt the iOS as our main mobile platform. As a direct result of our adoption of this platform, we are starting to enable our branch staff to better service our customers through our custom-designed iNeeds for iPad portal. We are also empowering our service staff with more tools through our dedicated App Centre.
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