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Standard Chartered Bank brings world-class innovation to equity and fixed income customers in three markets

Standard Chartered Private Bank Ushering Digital Transformation in Private Banking

Standard Chartered Bank’s innovative strides in three distinct markets – Malaysia, Taiwan and Africa – have been duly recognised by The Digital Banker, which declared the bank as a winner in two categories and highly acclaimed its efforts in another category at the Digital CX Awards 2024 held in Singapore.

Malaysia

Standard Chartered Bank emerged as the winner in the Outstanding Innovation in Digital CX – Equities in Malaysia category for operating the best equity trading platform.

SmartStocks is a one-stop online equity platform within the bank’s mobile banking app, SC Mobile. It helps clients make smarter decisions everyday by giving the digital convenience of a smooth onboarding experience, easy FX conversion, access to 12 global exchanges and competitor market analysis all within one app.

The platform offers a completely digital onboarding process via SC Mobile for existing clients which can be completed within five minutes. There is no account opening fee, no maintenance fee and no custody fee. The brokerage rate is also standard and can be as low as 0% for the bank’s priority private clients.

SmartStocks’ Refinitiv Report+ feature provides comprehensive stock analysis, including an overall outlook, industry performance versus peers and aggregated scores from top global brokers. The ecosystem also allows stock consolidation in one equity account for further legacy planning, ease of buying foreign currencies and ease of trading through one platform.

Additionally, LiveFX complements the proposition, enabling clients to instantly convert to foreign currency for foreign stock purchases.

Taiwan

Standard Chartered Bank’s Taiwan Online Equity Platform was highly acclaimed in the Outstanding Innovation in Digital CX – Equities in Taiwan category at the Digital CX Awards 2024, for leveraging the award-winning Online Equity Trading Tech Stack, which allowed for a rapid market launch within nine months in Taiwan.

The platform offers a seamless and user-friendly interface for easy trading and portfolio management in English and Traditional Chinese, allowing clients to seize opportunities anytime, anywhere with convenient and straightforward trading access to major stock markets.

It is integrated with internet and mobile banking for one-stop service, providing trading capabilities, financial services and comprehensive wealth management experience. It also comes equipped with Refinitiv Report+ for clients to access the latest trading ideas, market insights, and advanced charting tools for informed decision-making and customisable alerts and notification to stay updated on market trends and investment opportunities.

The platform is fully complaint with Taiwan Regulations and comes with automated pre-deal checks including PRIIP, W8, concentration risk, Client Investment Profile against Product Risk Rating and the Tax-related Cost Recognition Model.

Africa

The Online Fixed Income (OFI) mobile app of Standard Chartered Bank in African markets – Nigeria, Kenya and Ghana – has empowered its clients by giving them a convenient platform to take advantage of bond market opportunities, diversify and manage their bond portfolio, anytime, anywhere.

For its promising performance, the platform was declared as the winner in the Outstanding Innovation in Digital CX – Fixed-Income category at the Digital CX Awards 2024.

In addition to existing functionalities such as local currency bonds and Treasury Bills (T-Bills), the platform was enhanced with features such as foreign currency corporate bonds and sovereign Eurobonds with fractionalised trading on the OFI mobile app.

It enables clients to place fractionalised orders on the Eurobonds offering with the flexibility to subscribe based on notional or with investment amount. It also offers enhanced visual representation of bond holdings segregated by T-Bills, local currency (LCY) bonds and FCY bonds for easy redemption. Additionally, clients can access personalised bond holdings with individual and overall portfolio value in US dollars. Standard Chartered is one of the first known players to enable fractionalised trading on a mobile platform in the African market, enabling a broader client base to invest in fixed-income instruments easily from anywhere.

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