Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
This is the first eXellerator lab in Africa according to the bank's Chief Executive Officer Kariuki Ngari/CFM NEWS

Kenya

Stanchart launches innovation lab to collaborate with fintechs

This is the first eXellerator lab in Africa according to the bank’s Chief Executive Officer Kariuki Ngari/CFM NEWS

NAIROBI, Kenya, Apr 8 – Standard Chartered Bank has launched an eXellerator lab, an innovation that will serve as a platform to collaborate with fintechs in Kenya and the broader African region.

This is the first eXellerator lab in Africa according to the bank’s Chief Executive Officer Kariuki Ngari.

Kenya is now joining the league of Singapore, Hong Kong, London and San Francisco where the other eXellerator labs are located.

“We are establishing an innovation centre in Kenya, the Africa eXellarator lab to develop better products and services for our clients,” Ngari said.

The Global Head SC Ventures Alex Manson said that they are rewiring the DNA in banking in and outside the bank including an extended team of partners as good ideas are introduced.

“Our eXellarators provide the tools and environment to develop experiment and validate new ideas and business models emerging from both our own intrapreneurs and our partners.”

According to the Africa Region Lead, Kennedy Mubita, the key mission of eXellarator’s is to generate value by emulating intrapreneurial human centred and technology skills across the bank’s franchise in Africa.

Standard Chartered has co-created solutions and established new partnerships to improve client experience and change how they approach and think about banking.

After a successful launch of its digital retail banking in Cote d’Ivoire last year they have further rolled out digital only retail banks across Africa this year in Uganda, Tanzania, Ghana and Kenya.

Recently, the bank announced the establishment of a joint venture with PCCW and other organizations to deliver a digital retail bank in Hong Kong and they also announced to launch an open platform for Small and Medium Enterprises in India.

Advertisement. Scroll to continue reading.

This is to grow by providing access to a range of financial and business solutions in addition the SC Ventures Fintechs Bridge a market first online platform through which the Bank seeks partnerships with fintechs to solve business challenges.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...