Disruption: Why Kenyans don’t need to visit the bank anymore

For a long time, a trip to the bank was usually a hassle. Long waiting times and lines, inconvenient opening times and finding a close enough branch made it one of our least favorite chores.

However across every income bracket, an equal percentage of consumers have access to digital and mobile banking tools. In fact it is one of the most important factors influencing their choice of banks according to a cornerstone study.

The purpose of the bank branch is to facilitate interactions between customers and bank employees. However with today’s technology the interaction can happen without the two parties physically being in the same location.

People using digital banking is steadily increasing and banks are listening. Including Standard Chartered Bank.

With the Standard Chartered mobile banking app, they have made it so you may never have to visit a bank branch again. This is especially helpful right now as thousands of Kenyans are working from home and are encouraged to stay safe.

Through the app you can manage your bank account as well as easily transfer money through MPesa.

Additionally you can transfer money through RTGS to other accounts as well as transfer money through PesaLink.

The app also has a QR pay option which allows you to pay for goods and services, scanning the QR code at selected merchant stores and website.

You can also purchase various types of insurance including; home, motor, travel and farewell. You don’t even need to carry your debit card as you can withdraw from any Standard Chartered ATM.

It’s easy to open account and once you do, you may never have to set foot in a bank again!

Open your account now – https://www.sc.com/ke/open-account/

Pay your utility bills with SC Mobile Banking app
Pay your utility bills with SC Mobile Banking app

Be unstoppable! How Otieno helped neighbor Maina pay rent at midnight

Knock! Knock! “Otieno… Otieno… I know you are awake!”

Knock! Knock! I was shocked that someone was knocking on my Mercedes’ door. “Maybe it’s a phone thief…. I thought to myself” …but it persisted “Oti bana, wake up… its an emergency”

That’s when I slipped in to semi-consciousness.

Upon realizing it was a dream, I tried to get back to sleep. “Mercedes… please come back to me!” I said in desperation, but sleep had betrayed me. Maina, my neighbor, persistently knocked on the door to which I responded “I’m coming… relax”. At the back of my mind, I was reluctant to answer the door but on many an occasion, Maina had saved my life, so it was only fair that I went to find out what the problem was.

“Sema Maich… what’s going on? How can I be of assistance?” I said in a polite voice without a hint of anger from someone who had just been interrupted from driving his dream car. “Remember that job I had been telling you about? I applied and they called me for the interview. Tomorrow is the big day” he said in an excitement that had a tone of concern.

Assuming that he wanted tips, I interrupted and said “You know what, just be confident. Read their financial reports…. Take two showers and don’t shower with your usual bar soap……..”

“It’s not that…..” he interrupted. In the midst of the excitement of preparing for his big interview Maina had forgotten to pay his rent which was past due. He even said the infamous quote that has made many a bar owner skeptical “I don’t have money on my phone right now. Can you pay for me?”. Imagine losing your dream car and now almost giving the same person who ruined it your money.

“The landlord has sent me a nasty text threatening to lock the house in the afternoon. Would you have some money on your phone that I can use to pay the rent? I will give you the cash tomorrow after I get to the bank”.

Without hesitating, I got my phone and launched my Standard Chartered mobile banking app. Always handy! In a matter of seconds we were paying the rent through the landlords Paybill number as we spoke about the interview and how I’ll probably have a Mercedes dream again. We spoke about how it is now easier than ever to access our cash from the bank account especially when we have unexpected emergencies and social distancing. I even convinced him to try out mobile banking. This is something that was unheard of years ago.

“Thanks for helping me sort that out. I am downloading and registering the app tomorrow morning after my interview” Maina said as he went back home an optimistic man who knew that he won’t have to bother his neighbor again if he wants some money ASAP.

Open your account now – https://www.sc.com/ke/open-account/

This is why losing your credit or debit card is no longer a nightmare!

We’ve all been there, reached down for our wallet only to find it isn’t there. It could have been left somewhere, or stolen while you weren’t looking, or maybe it just disappeared! They are known to do that you know!

Either way, it is usually a nightmare to replace. At first we had to physically go to the bank and report it stolen – during which time someone could be using it. Then we could call our banks, but again how often are we left on hold for hours before we finally get to speak to someone.

Thankfully technologies advancement is to our benefit.

We now have access to digital banking apps like the Standard Chartered mobile banking app that is designed to make managing our accounts easier than ever. Now you can do pretty much everything from the comfort of your home as you stay safe. These include transferring money through MPesa. RTGS and PesaLink, buy insurance and protect your Standard Chartered debit card.

If you find that you have lost your debit card, you can block the card and request for a replacement right on the app! And while you wait, you can use your Standard Chartered mobile banking app to withdraw money from any Standard Chartered ATM.

Technology is only going to continue to improve, and with that improve the efficiency of our daily lives. From the way we travel, communicate and even bank, we should expect to see great things in the future.

Until then banks like Standard Chartered are ensuring that your banking needs are met.

Open your account now – https://www.sc.com/ke/open-account/

PS: Lost your SC Visa credit/debit card?

You can block it easily on you SC Mobile app as you #StaySafe at home with the following steps

– Login to SC Mobile
– Select ‘Service Requests’
– Select ‘Card Management’
– Select ‘Block & Replace Debit Card’ or ‘Report lost/stolen credit card’
– Enter ‘Reason to Block’ & select which card to be blocked.

Opinion: All Kenyan businesses should to now process KRA payments online

We used to love queuing and doing things last minute. Not any more. New habits are with us!

Haven’t we learned a lot? At least I can speak for my circle of friends and I suspect the same for most Kenyans. Indeed, comfort is a killer.

Staying indoors has taught us to take advantage of what we’ve got in our hands. Got Internet? Then your business should process KRA payments online and waste no time. Read that again!

Why? Simply because you can. I highly suspect we won’t be visiting the tax centres anytime soon.

Actually, Standard Chartered Bank has made it easier for businesses so that we won’t have to ‘pet the peeves’. Standard Chartered Bank is directly integrated with KRA and this makes KRA submission real time. This, through the Straight2Bank online platform. It’s an online banking platform designed for all your business transactional needs.

All you have to do is set up KRA once and you wont have to memorize the account again.

You can pay your Excise, Service and Direct taxes online. Your account is automatically debited and you receive an acknowledgement immediately.

Besides that, you can stay safe and work from home with more features such as simple payroll processing, simple FOREX transactions, simple bulk payments, reports and alerts and it’s all secure.

Why don’t you try it for your business? You want to meet your legal obligations, don’t you?

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Process KRA Payments online
Process KRA Payments online

When your petty cash department has to work from home: Tips and tricks to stay safe

When most of us think of the petty-cash department, we tend to think of straight-faced persons seated behind a desk in an office, dealing with piles of paperwork and always counting money. A petty cash accountant working from home without face-to-face meetings or paper exchanges hasn’t seemed possible …until now. Times have quickly changed.

Because of this hiatus occasioned by the uncertain times that we’re going through, doing petty cash accounting by working remotely has been made possible by technology. A lot of businesses are still nervous about it and that’s natural because they might not know how to go about it. However, all that’s needed to be known is what tools can make this work paperless and away from the office.

Here are some hacks.

Face to face meetings
Most interactions with these accountants tend to be impromptu rather than scheduled. There’s no difference in a remote setting other than using phone calls or video conferencing tools. No need for a conference room! It’s just as easy to have impromptu meetings using Zapier as it would be in any office. You could also set up a Zoom meeting and share the link in your Slack channel and you can have that same sort of spur of the moment meetings, as long as all the participants are online at the same time.

Work
The accounting aspects of working remotely for petty cash accountants are not much different from working in an office. There are still weekly meetings, collaborations, month-end reports and payment approvals.

There are a lot of cloud-based apps but we’ve found an innovative way to manage petty cash payments provided by Standard Chartered Bank through their award-winning platform called Straight2Bank

Straight2Bank and Petty cash

The platform is an online banking platform designed for all your business transactional needs. At the moment, we are advised to stay away from physical cash (coins and notes) and naturally, we’re embracing alternative means to do banking.

To make the petty cash disbursements, all you have to do is list all the mobile numbers and amounts to be paid on an excel sheet template. Load this on Straight2ankB and click pay. For added security the payment goes through your organisation’s internal approvers.

Working remotely may seem like a foreign concept in the petty cash accounting world, but when you’re set up with the right applications, it’s totally achievable!

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Bulk Payments Standard Chartered Bank
Bulk Payments Standard Chartered Bank

 

Payroll as you work from home: How Kenyan businesses should take advantage of this award winning platform

Payroll jobs involve executing procedures to ensure all employees of a business receive correct compensation on the correct designated calendar days. Depending on the size of the business, an owner may have in-house payroll personnel or outsource this task.

The people in charge of payroll are responsible for gathering and organizing certain employee information. This information includes salary amounts, hourly wages, the number of hours worked for each pay period, and any recorded time off for each employee.

These tasks have now been simplified, especially because we’ve now been encouraged to work from home and stay safe.

One of the banks that has successfully filled this gap and enabled thousands of businesses to ensure continuity through innovative solutions is Standard Chartered Bank through the award-winning platform, Straight2Bank

This online banking service enables organisations to process payroll conveniently in the comfort of your own office or home. Basically, wherever you can access the platform.

It adds convenience because the online payroll processing is not limited to employees with Standard Chartered Bank accounts. You may also process payroll for employees whose accounts are with other banks.

Besides providing simpler salary administration, Straight2Bank allows an organisation to exercise better management of accounts by enabling convenient, fast and easy access to all their accounts, anytime, anywhere.

You can also customise the way you wish to view your statements with the option of downloading your transaction history in PDF or CSV format for easy retrieval. Within the platform, you can download cash management reports at your convenience.

Your salary processing easily & efficiently from wherever you are through Straight2Bank online banking service.
Your salary processing easily & efficiently from wherever you are through Straight2Bank online banking service.

Join the thousands of businesses that have discovered how to take advantage of Straight2Bank, the award winning platform. Visit https://www.sc.com/ke/business-channels/straight2bank/ to learn more!

Discover Straight2Bank: What it means for your business as you work from home

Alternative banking is the in-thing for businesses right now as we experience uncertain times. All organisations are keen to manage this unforeseen disruption and to stay afloat, each is undertaking a set of unique measures. These include having employees work from home, migrating tasks online such as meetings, interviews, finance and accounts, operations et cetera.

However, when it comes to business banking, there are very few options in the market that provide fully integrated solutions for organizations to take advantage of online platforms.

The most comprehensive solution that exists in the market is Straight2Bank from Standard Chartered Bank. Unmistakably, this platform has now become a yardstick for other banks and the fact that it has become the most popular platform for businesses both large and small is evidence of its superiority.

What exactly is Straight2Bank?

The platform is a fully integrated online banking service for business transactions, hedging and information needs with a customisable suite of tools. It is carefully designed for all business transactional needs.

Straight2Bank facilitates comprehensive management, giving businesses easy access to key functions such as trade, payroll and foreign exchange transactions. Organisations can also set up custom access and control within the platform which includes employee access levels, customised payroll templates, personalized account alerts and more.

The platform also allows businesses to process their KRA payments online and in a simple way. Standard Chartered Bank is directly intergrated with KRA and this means all payments are processed realtime.

Bulk and mobile payments are facilitated in a simple manner. This involves using an excel sheet template to list all mobile numbers and amounts to be paid, uploading it to Straight2Bank and click “pay”. This function is secure in that the validation of these payments goes through the organisation’s internal approvals

For users needing help on the platform, there is a dedicated support team. They provide online support services to businesses you solve and problems they may face when using Straight2Bank.

Given the current government directives designed to facilitate businesses, all charges on Straight2Bank are now minimalised. This includes free RTGS transfers done online as well as payroll.

To learn more and get started, visit https://www.sc.com/ke/business-channels/straight2bank/

Here’s how to manage your investments while social distancing

We’re living through history and staying safe is a major priority right now. The ongoing efforts to control the pandemic has made it necessary for most of us to work from home. This also means that our lifestyles have been disrupted and we only make moves when necessary. All in an effort to try and curtail the spread of the virus.

During such a pandemic and also with public health emergencies, impacts can be seen in both the local and national economies. We are all concerned about our investments but there are proactive steps you can take to protect yourself.

Banks and financial institutions are introducing ways that you can manage your money to not only help you weather these trying times, but strengthen your portfolio.

One of these introduced is the Standard Chartered digital mobile banking app which helps you make decisions on investments as well as control your finances. You can even open accounts on the app.

Through the app, you can buy and sell bonds and T-bills, view market trends and buy mutual funds. We are currently in a Bear market meaning that the stock market has fallen for a prolonged period of time. This leads to an increased sell-off of stocks reinforcing the downward direction of the market.

However, falling stock prices and depressed markets are good for the long-term value investor. With lowered stock prices, you can make periodic, fixed amount investments over time.

Choosing who or what to invest in comes with its own challenges, but Standard Chartered can help you with that. You can receive monthly portfolio statements which show the status of your investments which are professionally managed.

While we may be stuck at home, it does not mean that our bank accounts have to be too. Through the Standard Chartered mobile banking app, you can invest directly from your current account and enjoy the benefits of regular income.

 Get started

The SC Mobile app gives you the freedom and time to apply for new bank accounts from the comfort of your home, office or on the go. They’re helping you Bank anytime, anywhere with iPhone and Android mobile banking apps.

SCB Mobile Banking
SCB Mobile Banking

For the Mobile Banking Account Opening application, all that’s needed is you and your mobile. You’ll be asked for uploads of your Identity Documents that you can prepare before you start. Then with your mobile, simply capture, attach and even upload from your preferred cloud storage.

Open your account now – https://www.sc.com/ke/open-account/