KUALA LUMPUR (Dec 7, 2011): Standard Chartered Bank Malaysia, in an effort to transform customer banking experience, will upgrade another 10 branches next year after having invested RM24 million to enhance 11 branches in the Klang Valley with the next-generation branch concept this year.
Its country head for consumer banking Tiew Siew Chuen said the upgrading exercise is to deliver better services to customers. The bank has 38 branches in the country.
Tiew said the role of branches is changing but they remain a vital part of the bank's distribution channel mix and it will continue to invest to give a fresh look to its branches.
"Our new next-generation branch concept will offer an international and standardised customer experience as well as making banking a true enabler in people's life, and understanding their needs by providing solutions," she told a media briefing after a tour of its next-generation branch at Jalan Sultan Ismail here today.
She added that the majority of customers prefer alternative banking channels for simple, over-the-counter transactions, resulting in a 27% decline in branch usage.
Nevertheless, Tiew said branches are still the favoured channel for customer interaction and a dominant channel for more complex products.
StanChart's regional head for distribution in Malaysia and Southeast Asia Looi Kok Soon said a survey conducted by Ernst & Young shows that 70% of the respondents who perform banking transactions via alternative channel still visit the branches.
He said StanChart's first next-generation concept branch was launched in July and Malaysia is one of eight countries in Southeast Asia selected to feature the new concept.
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