Standard Chartered Bank lauded at Taiwan Technology Excellence Awards 2024 for hyper-personalised, frictionless banking

The company highlights its commitment to delivering outstanding products and unforgettable customer experience.

Standard Chartered Taiwan bagged two major titles at the Taiwan Technology Excellence Awards 2024 for its Super Data Analytics that has personalised customer engagement and the innovative recreation of its credit card & personal loan (CCPL) onboarding platform, which has provided customers with a smoother experience.

The Super Data Analytics project enables hyper-personalisation by designing comprehensive analytic tracking triggers which are seamlessly embedded in customer journeys, where customer actions and origination data are compiled in analytic tools. The data is then going to automatically convert to meaningful data attributes that are synced across the segmentation and personalisation platforms.

This capability allows Standard Chartered Taiwan to test and optimise every experience at every single visit. However, all the data collected from the tool would not turn into customer insights and business results unless a timely action is taken. 

As such, the bank has introduced Agile delivery framework, wherein focused squads are established to continuously ideate and test for optimised customer engagement models and use cases. The Agile squads have dramatically shortened the turnaround time for content personalisation and have enabled new engagement channels.

One of the major use cases of the Super Data Analytics project is on public websites, wherein Standard Chartered Taiwan has rebuilt the platform based on segmentized target audience and has delivered contextual content and relevant information.

By tailoring the page through altering images and content to personalise the website experience, customers feel like the bank acknowledges their need and that each engagement directly speaks to them. At the same time, it runs testing and measures performance throughout the conversion funnel to pinpoint areas where customers may drop out. This helps the bank address issues immediately and improve overall traffic from awareness to conversion.

Furthermore, it can provide a contextual journey for customers by creating multiple dynamic banners with templated user interfaces. These banners dynamically display the best suited content based on a visitor’s segmentation profile. 

Standard Chartered Taiwan has observed that for its key business products, webpage traffic has grown around 50 per cent and effective leads from owned channels have increased over 25 per cent in two months. At the same time, the organic channel’s contribution to personal loan effective leads have grown by more than 50 per cent. 

Its data analysis foundation has ensured that it is able to hyper-react on any customer behavioural changes through early awareness and instant actions.

“We are continuously refining and enlarging our use case backlog to build comprehensive, end-to-end customised engagement triggers, along with accelerating test-and-learn MVP iterations. With this initiative and the vision, we can take customer experience and our own business growth to a newer height,” the company said.

The Super Data Analytics project was hailed as the winner for the Taiwan Technology Excellence Award in the Analytics - Banking category in the prestigious awards programme for the analytics capability of the project.

Powering hassle-free onboarding experience

Meanwhile, its reestablished CCPL onboarding platform has been a product of its constant understanding of customer feedback and turning them into best practices. The platform features two major digital enablers that have been introduced in mid-2023 — the TW Mobile ID and straight-through processing (STP) capabilities. 

By integrating TW Mobile ID (a secure digital identity service that provides seamless authentication over the nationwide telecommunications network) and by agreeing to use mydate, customers can utilise MYDATA database information when applying for credit cards and personal loans. This eliminates the need for customers to upload their own financial documents, making the application process smoother and the customer experience better.

This innovative ID verification method has addressed the pain points of over 20% of loan applicants.

In addition, the redesign of the CCPL online platform using the STP approach will shorten the entire application process to less than 10 minutes at the earliest. Eligible applicants (currently more than 30 per cent of the total applicants) will be able to get their cards approved or utilise their approved funds as early as the same day they submit their applications. This provides customers with the flexibility to access additional funds.

Customers can expect a shorter turnaround time for the complete application journey with the STP improvement.

“To further unlock the potential of the business, we will continue to listen to our customers’ feedback and breakthrough onboarding bottlenecks with more innovative enablers to increase the STP rate, offering a truly paperless, presence-less, seamless customer journey,” the company said.

Standard Chartered Taiwan received the title in the Taiwan Technology Excellence Award for Digital - Banking for this innovation.

The Asian Technology Excellence Awards, now in its fourth year, celebrates top technological innovators and solutions that are redefining industries and leading the charge in digital transformation.

The Asian Technology Excellence Awards is presented by Asian Business Review. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding retail initiatives, please contact Jane Patiag at [email protected].