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January 12, 2018

Standard Chartered to expand ‘Premium Banking’ service footprint

Standard Chartered has decided to roll out its ‘Premium Banking’ service across its footprint in Asia, Africa and the Middle East this year.

Premium Banking service provides variety of lifestyle benefits for the emerging affluent consumers who intend to save and invest.

The customers of this service will also receive a complimentary entry to more than 800 airport lounges and can interact to a team of experienced agents over phone to receive expert wealth management and general banking advice.

The Premium Banking service was introduced in India in the middle of 2017 and witnessed a positive response. The bank expects that this service will also become popular among the consumers of the other market regions.

Standard Chartered is planning to launch the service in 10 countries in different phases.

A client needs to fulfil various criteria including minimum monthly average funds to become eligible for Premium Banking service. The minimum average fund varies from market to market.

Standard Chartered retail products and segments global head Fernando Morillo said: “We expect the emerging affluent to be an increasingly important part of our business. They are a diverse group, ranging from single millennials, just getting started in life, to young families, corporate professionals and small business owners.”

“According to the latest Standard Chartered Emerging Affluent Report, we know they want easy, convenient banking that helps them save in a smart way for their life goals.”

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