Taiwan's best digital bank 2019: Standard Chartered
In an era when legacy banks are challenged to win Asia’s so-called K-Pop market (and in media-flooded Taiwan, that’s a bigger challenge than in many other markets), Standard Chartered thinks it may have got it right. Its smart in-app keyboard aims to extend and enhance its digital offering, providing tailored social media channels for the island’s affluent millennials.
Its keyboard banking and QR payment services allow customers to conduct peer-to-peer payments on any kind of mobile device, and do it all within the app, while continuing to chat without switching between messaging apps.
StanChart has partnered with the digital pay services of Apple, Google and Samsung to be the only foreign bank offering all three in Taiwan. By the end of calendar 2018, the monthly spending via the three payment systems grew 50%, and the number of active users increased by 83% since launch. Overall, StanChart’s mobile adoption rate of transaction by clients grew 59% in 2018.
StanChart has won widespread plaudits for the instinctive ease and use of its digital offerings in Taiwan and the bank’s other big markets around the region, such as Hong Kong, Singapore and China.