Standard Chartered HK


Standard Chartered Bank (Hong Kong) Limited (“Standard Chartered Hong Kong”) won the Best Retail Bank in Hong Kong category at the virtual Retail Banker International (RBI): Asia Trailblazer Awards 2021 because they executed their three strategic priorities well. Namely, (i) scaling growth and online multichannel services for affluent clients; (ii) accelerating overall digital transformation; & (iii) delivering excellent client experiences (CX) and service.

The bank meets its priorities despite facing considerable challenges last year, including Covid-19 lockdowns necessitating a faster expansion in unplanned digital service capacity, distrubuting money for a government cash payout scheme, relief measures for corporates, hybrid or home working for employees, and so on.  Regardless the bank still:

  • Scaled growth in affluent clients: In a year of pandemic, Standard Chartered Hong Kong still saw a good momentum in its affluent client base. It has been achieved by focusing on the top tier segment with its Priority Private offering and matching them with senior Relationship Managers (RMs) and specialists. A Priority Private Centre was opened at K11 Musea that delivers a high-end experience as RMs and clients engage in wealth advisory conversations. Assets under management (AUM) in the segment saw a good growth as of Q1 2021.  The bank also launched new wealth management (WM) solutions for the affluent segment spanning US brokerage; financing; environmental, social & governance (ESG) investment options. For its Priority Banking service engagement was upped by an omni-channel strategy, recognising that two-thirds of clients still use branch and digital channels. This led to:
  • the rennovation of three key branches
  • & the launch of the ‘My RM’ digital wealth service.

The latter allows clients to contact their RMs using mobile or online from their homes. RMs and clients can co-browse market views and have discussions remotely, make secure transactions, and so on.


  • Accelerated digital transformation: via the ‘Invest from Home, Bank from Home’ campaign in which the bank communicated and launched new capabilities to enable clients to access services and solutions seamlessly in the comfort of their own homes. For example, clients can now easily open Current Accounts/Saving Accounts (CASA) with instant on-boarding; place time deposits; apply for new cards; buy mutual funds; foreign exchange (FX); and insurance products through the mobile or online service.

As of Q1 2021, over 80% of banking services are done through digital and self-assisted channels and there are 1million digital clients. Digital sales income has increased almost 80% YoY.

  • Improved client experiences (CX) & service: To deliver integrated CX, in excess of 100 cross-functional agile squads were employed to streamline processes and workflows. For example, a client journey squad cut client on-boarding times by 38% by listening to client feedback and then removing frictions in the process. The bank also launched Transactional Voice of Client (VOC) survey since in January 2020, with 7000+ responses collected, and a QR code survey since June 2020 for clients to leave branch services ratings, which collected 4,000+ responses. These led to further initiatives, such as:
    Digitally accessible e-ticketing wait time procedures and checks to get a counter service across 18 branches;
    • An SMS one-time-password (OTP) for client authentication in phone banking that shortened identity check times from 1 minute down to a few seconds.

Combining the human touch with integrated digital services has served the bank well.


The Retail Banker International Asia Trailblazer Awards is an annual platform that celebrates the best in class retail banking institutions and individuals for their innovative service offering and commitment to customer excellence.

If you would like to share your incredible consumer finance journey, then register for the 13th Annual Retail Banker International Asia Trailblazer Awards 2022 and submit your entry!