Standard Chartered Hong Kong’s leadership in retail banking was reinforced by its recognition at the TAB Global Excellence in Retail Finance Awards ceremony held in Tokyo in February 2025. At the heart of this success is the bank’s transformation of the client experience through product innovation, digital integration and strategic partnerships that speak directly to the needs and aspirations of today’s affluent customers. The bank’s approach to deposits demonstrates how financial institutions can evolve beyond traditional savings products by embedding flexibility and lifestyle value. The Marathon Savings Account, for instance, offers attractive interest rates with withdrawal flexibility, encouraging disciplined savings without compromising liquidity. Meanwhile, the Asia Miles Time Deposit rewards customers with travel miles in place of interest—a strategic integration of finance and lifestyle. “Our focus has been on creating deposit products that go beyond traditional banking, offering flexibility and rewards,” said Mona Sengupta, head of products - deposits and mortgages, Standard Chartered Hong Kong. These innovations are powered by a digital-first strategy that simplifies onboarding and account access. “We’ve reduced onboarding and account-opening steps to just a few clicks,” Sengupta added. As a result, the majority of new fund inflows now come through digital channels, underscoring the success of this shift toward seamless, mobile engagement. Stephen Man, head of wealth and retail banking at Standard Chartered Hong Kong, noted, “The Marathon Savings Account and Asia Miles Time Deposit have been transformative for client engagement, offering practical and aspirational benefits.” Data analytics further strengthens this digital strategy, enabling the bank to personalise offerings based on client behaviour. “Our analytics allow us to identify the right product for the right client and determine the best channel to approach them,” Sengupta explained. Clients with significant savings potential, such as payroll customers, are proactively guided toward appropriate wealth solutions. Digital personalisation continues through myWealth, the bank’s proprietary platform offering real-time investment insights tailored to individual portfolios. For clients preferring guided advisory, relationship managers use the same tools to construct personalised investment proposals. “Personalisation does not stop at the ‘insight’ level,” said Alson Ho, head of wealth solutions, Standard Chartered Hong Kong. The bank’s “supermarket” model spans the full continuum of products, from deposits to complex investments. “From deposits to complex investment products, we aim to meet every need with a thoughtful mix of flexibility and returns,” Ho explained. Strategic partnerships with global brands bring an additional layer of value. Cathay Pacific enhances the travel rewards proposition in deposits, while Visa supports instant remittance to more than 30 countries. Disney contributes to client engagement across family and youth segments. “Through partnerships, we’re able to bring in new ideas and co-create solutions that respond to emerging client needs,” Man said. Security underpins every digital interaction. The bank employs biometric verification, real-time transaction monitoring and encryption across platforms. Sengupta shared, “Empowering clients with knowledge about phishing scams and data protection is as critical as the tools we use.” One standout initiative is the “Anti-Fraud Restaurant” campaign, which transformed a local dim sum eatery into an engaging fraud awareness experience for the public. These efforts have translated into strong business performance. The bank reported robust growth in retail deposits and record-high income in its retail and wealth businesses. “Our Greater Bay Area initiatives have been a significant growth engine. By focusing on affluent clients and cross-border banking, we’ve captured a larger market share and strengthened our commitment to be a leading wealth manager for affluent clients,” Man added. Standard Chartered Hong Kong’s ability to integrate lifestyle, technology and trust into its retail proposition sets a new standard for the industry. With a forward-looking strategy rooted in digital agility and customer-centricity, the bank continues to lead the evolution of retail banking in the region.
