Standard Chartered Bank, a member of the Standard Chartered Group, was established in Malaysia in 1875 and incorporated as Standard Chartered Bank Malaysia Berhad in 1984.
As Malaysia’s first bank, Standard Chartered leads the way through product innovation, consistent and strong growth performance and sustainability initiatives. The Bank provides a comprehensive range of financial products and services to corporates, institutions, small and medium-sized enterprises and individuals through its network of branches across Malaysia.
In 2001, Standard Chartered PLC established its Global Business Services centre in Malaysia – the first international bank to do so in the country.
It is a part of a broader network of information technology and operations centres with two other hubs in India and China. The centre provides dedicated world-class technology, software and system development, information technology support services, banking operations and client care capabilities to more than 60 markets in Asia, Africa and the Middle East.
It also has the distinction of housing Standard Chartered’s first Global Collective Intelligence and Command Centre (CnC). The CnC is designed to be the nerve centre of the Bank, operating 24/7 to enhance the Bank’s capability to provide its clients globally with more reliable and secure banking services using state-of-the-art technology. It is staff with best-in-class software engineers, cyber security experts and operations specialist.
Standard Chartered’s global cybersecurity centre of excellence is also located within its Global Business Services hub in Malaysia. Among its facilities is a Cyber Security Operations centre and a Forensics Lab. Standard Chartered has the largest dedicated information and cyber security capability in Malaysia’s private sector. This plays a critical role in the Bank’s cybersecurity monitoring and response as well as threat intelligence.
Standard Chartered Bank Malaysia invests in world-class digital capabilities to offer clients simple, convenient and secure digital banking.
Malaysia is moving towards a cashless society with infrastructure being put into place to facilitate e-payments which has more than doubled per capita from 2011 to 2017. In the same timeframe, cheque usage has reduced by more than 40% and Bank Negara has more than doubled the number of point-of-sale terminals. Debit card transactions have increased by more than six times in 2017.
This has presented a shift in client’s expectations and in the way clients pay for items and spend their money. Today, clients want things instantaneously and are increasingly reliant on their mobile devices or digital payment gateways (versus cash).
Banking solutions must keep up with the shifting needs of clients in this increasingly digital world.
An important enabler of the digital transformation in the banking sector is security. The banking industry faces a wide range of threats as cyber criminals become more sophisticated in their approach. Standard Chartered’s Global Business Services centre plays an important role in securing the Bank. The CnC’s rapid response capabilities and situational awareness give the Bank the ability to predict, prevent and manage risks.
By investing in digital banking needs, clients also enjoy other benefits such as saved time, saved cost and instantaneous banking solutions that solve our clients’ pain points while enhancing their client experience.
Chat and video banking – A first-of-its-kind in Malaysia, clients can open an account, get financial advice from wealth experts or buy investment products while enjoying the flexibility and convenience of banking from any location using their laptop or mobile devices. Clients once had to physically walk into a branch to speak face-to-face with an advisor but now, can set up an appointment and video chat from a location of their own convenience.
Mobile gamification – Standard Chartered is the first bank to introduce mobile gamification to reward credit card users in a fun and instantaneous manner when they shop. Called ‘Shake and Win’, the campaign gave clients the opportunity to win cash back with every minimum spend of MYR100 in a single transaction. This comes with the proliferation of smart devices that saw mobile gamification on a rising trend. A survey done by Nielson1 showed one of the top activities 52% of Malaysians use their device is to play free games. By combining mobile gamification with shopping, the Bank can engage clients in a fun manner while rewarding them at the same time Upon registering for the campaign, clients would receive an SMS to play the ‘Shake and Win’ game.
Aside from innovating our banking services, Standard Chartered is aware of the transformation that the industry is going through with the rise of start-ups and fintech. The Bank sees this as an opportunity to collaborate and partner with talented individuals and companies that are attempting to transform the industry through its eXellerator lab in Singapore and Hong Kong and SC Studios outpost in Silicon Valley.
In 2017, Standard Chartered partnered with Allianz Malaysia and Malaysia Digital Economy Corporation (MDEC) to launch the SuperCharger FinTech Accelerator Programme. The programme aims to help international fintech start-ups and scale-ups grow their footprint in Asia.
“As a bank with a presence in Malaysia for 143 years, we are invested in improving the way we serve our clients across our platforms. As consumers increasingly prefer mobile devices, it comes as no surprise that we are seeing an upward trend in mobile banking transaction volumes. Digitisation is forging ahead and offers an opportunity for us to drive superior client service. That is why we are constantly enhancing our products and services with our clients’ needs in mind. Every innovation is designed based on client insights to offer solutions that are digitally smart and solves our clients’ pain points.”
Abrar Anwar, Managing Director and Chief Executive Officer of Standard Chartered Malaysia
“Standard Chartered’s Global Business Services is at the heart of the Bank’s approach to address the rapidly changing demands of the technology, regulatory and security landscape in banking. The Global Collective Intelligence and Command Centre (CnC) combines best-in-class design, technology and the co-location of subject matter experts in a single, industry-leading facility. The global reach of the CnC means that we can respond proactively to incidents and prevent disruptions, regardless of where these incidents come from. Since its launch three years ago, the CnC has grown rapidly, reflecting our digital focus and our commitment to developing local talent,”
Matthew Norris, Global Head and CEO, Standard Chartered Global Business Services.