Standard Chartered launches Mobile Banking in Kenya

cellphone.jpgStandard Chartered has announced the launch of mobile-phone banking (‘mBanking’) in Kenya.
Standard Chartered Bank is the first bank in Kenya to introduce ‘mBanking’ on the USSD (Unstructured Supplementary Service Data) platform to the market. This new product will provide Standard Chartered Bank’s customers with access to banking 24 hours a day, 7 days a week – anywhere in the world, at any time- all through their mobile phone.

Richard Etemesi, the bank’s Chief Executive Officer said that the new development is part of the bank’s efforts to provide alternative delivery channels for their customers.

“The launch of this mBanking solution consolidates Standard Chartered’s position as the market leader in the provision of IT-based financial services. This new development compliments our bank’s philosophy of striving to meet customer needs and lifestyles by offering not only products and services but also delivery channels that are in line with current and anticipated future needs, “ Said Etemesi.

Speaking at the launch, Raheel Ahmed, Regional Head of Consumer Banking, Africa said: “The launch of mobile phone banking in Kenya is a very exciting initiative. This new product will enable us to significantly enhance our service to our customers in Kenya .

We differentiate our Brand in Africa through our ability to leverage on our international expertise and product capabilities to introduce new, innovative services into our African markets. The launch of our mobile phone banking product in Kenya is yet another example of this competitive advantage, and further evidence that we are continuing to invest heavily in our African franchises.”

Standard Chartered’s mBanking proposition will provide its customers with a number of services on a unique platform called USSD (Unstructured Supplementary Service Data). Standard Chartered Bank is only the fifth bank to use this specific platform globally. USSD is highly user-friendly, and provides an extremely convenient system for customers to access their banking requirements in real time.

USSD is technology unique to GSM. It is a capability built into the GSM standard for support of transmitting information over the signaling channels of the GSM network. USSD provides session-based communication, enabling a variety of applications

Standard Chartered Bank customers will be able to:

– Check their bank balance
– View a mini bank statement for their last 3 transactions
– Change their PIN, anytime and anywhere
– Request Bank Statements
– Transfer of Funds in-between personal accounts and nominated accounts
– Pay utility bills – Pay your Power/ Water /Satellite TV
– Enquire on FX rates
– Top-up their mobile phone balance
– Request a cheque book

Customers with ‘international roaming’ enabled on their mobile phones will be able to complete all the above transactions from wherever they are, anywhere in the world.

The launch of mBanking in Kenya is the latest in a list of ‘alternative banking channels’ introduced by Standard Chartered Bank in Africa throughout 2008. ‘Alternative banking channels’ are innovative products and services such as ATMs, Internet Banking and e-statements, which provide customers with greater flexibility in their banking requirements, enabling them to sort their finances at their own convenience, in their own time, in the knowledge their finances are completely secure.


  1. I would like to enquire whether I can transfer funds from my Co-op a/c to an a/c in a diff bank?still on that if its possible, how does it work and also the charges for each transaction?Do i need to register for the mobil banking?

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