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StanChart launches Retail Workbench

stan9marchStandard Chartered Bank has launched its Retail Workbench, a digital tablet-based sales-and-service tool that ‘brings the bank’ to clients in Asia, Africa and the Middle East. The tool allows sales staff to open an account for a client in any location and makes banking services like loan approvals and credit card issuance fast, simple and completely paperless. With this Retail Workbench is now live in six markets – Malaysia, India, the UAE, Bangladesh, Nigeria and Kenya. Karen Fawcett, the bank’s CEO for Retail Banking, said the bank is harnessing technology to make banking a really ‘wow’ experience. And as the bank builds the digital retail bank of the future, it is getting rid of paper and improving cost efficiency along the way. The bank said Retail Workbench revolutionized the banking industry in Korea when it was launched in 2014, cutting account opening time in the digitally advanced country to five minutes and credit card issuance and personal loan application and disbursement to less than half an hour. It has since won numerous industry awards for innovation and outstanding client service. It said by the end of 2017, Retail Workbench will be in the hands of staff in 18 markets across Asia, Africa and the Middle East.

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