Graphic Business News

Stanchart offers fixed income on its mobile app

By: Kester Korankye

The Standard Chartered Bank, Ghana, has launched a new product on its digital banking, the SC Mobile.

Known as the Online Fixed Income (OFI), the product, which comprise local currency bonds and treasury bills (Fixed Income), allows customers of the bank to place orders in a fast, simple and convenient manner.

This is part of the bank’s effort to create a complete cost-efficient branch formats that will allow its customers to access basic banking transactions on their mobile phones.

Digital solution

Speaking to the media after the launch of the product last Thursday in Accra, the Head of Wealth Management at the bank, Mrs Settor Quashigah, observed that Stanchart would continue to offer an end-to-end digital solution to help clients in their investment decisions.

"Online Fixed Income (OFI) on SC Mobile gives clients the opportunity to buy and sell government issued bonds at any time via the SC Mobile App," she said.

According to her, the fixed income trading platform on the SC Mobile app includes simplified client investment profiling, sale and purchase of treasury bills at any given point in time.

Additional details

Additionally, she said clients could view the list of securities available to be traded each day, as well as details of securities such as indicative price, tenor, maturity date, coupon percentage and coupon frequency.

"Transaction details and historical transactions are also available on the app. Clients have access to an educational page to learn more about trading in bonds.

"In 2019, the Standard Chartered Bank made significant progress in the acceleration of its digital agenda that is transforming its Retail Banking Business. Our flagship SC Mobile digital banking app is disrupting the banking landscape in Ghana," she noted.

She added that the digital banking app featured a range of innovations and functionality improvements to offer a more seamless experience for its clients such as end to end digital client onboarding up to 70 client service requests, a fully enhanced payment proposition including mobile money.