Standard Chartered Saadiq is Asia’s best Islamic digital bank this year due to its pursuit of digital innovation and client-centricity. Through an integrated approach to technology and service, the bank has pushed the Asian Islamic banking digital space, offering seamless, accessible and ethical banking.
Standard Chartered Saadiq’s mission is rooted in delivering best-in-class client experiences by leveraging digital platforms. Recognising the evolving expectations of millennials and modern consumers, the bank has placed digital solutions at the centre of its growth strategy.
One of the bank’s largest achievements in 2024 was the introduction of digital onboarding through the SC Mobile App. As the first Islamic bank in the region to offer this feature, Standard Chartered Saadiq has enabled new clients to open accounts completely online and be fully paperless.
Key benefits of the bank’s digital onboarding tool include straight-through processing, real-time account activation, enhanced customer experience with account setup in minutes and reduced reliance on physical branches.
The bank has further strengthened its digital portfolio by introducing peer-to-peer (P2P) digital remittance services and real-time FX conversion. These tools empower users to conduct local and international transactions digitally, eliminating the need for in-person branch visits or manual rate negotiations.
Recognising the evolving expectations of millennials and modern consumers, the bank has placed digital solutions at the centre of its growth strategy
Standard Chartered Saadiq now also offers real-time foreign currency conversions via SC Mobile and online banking platforms. Clients can convert between foreign currencies and local currencies at competitive rates instantly, bringing convenience, consistency and transparency to currency exchange services.
Additionally, through its digital platform, Standard Chartered Saadiq now gives customers access to Shariah-compliant wealth products. These include online mutual funds where clients can invest, explore research-driven fund libraries, and manage their portfolios via mobile or online banking. SmartStocks enables real-time trading and investment in Shariah-compliant securities. The new LiveFX platform offers real-time currency conversion, market insights, limit orders, watchlists, and price alerts, providing clients with complete control over their forex strategies.
Finally, the bank’s efforts extend to fully digitising routine transactions and service requests, ensuring that clients can manage their entire banking relationship remotely. Integrations with telecom platforms have further expanded digital bill payment capabilities, enabling seamless access to over 50 billers.
Looking ahead, the bank is set to launch SC Mobile 2.0, a transformative digital banking upgrade. This platform will redefine client servicing by digitising more than 50 of the most used banking services. SC Mobile 2.0 institutes a user-driven design – built entirely on customer feedback to ensure the platform is intuitive, efficient and tailored to real-world needs.
This full year of digital transformation aligns with Saadiq’s vision of becoming a truly branchless Islamic bank – removing barriers, improving accessibility and supporting financial inclusion across Asia.
