Standard Chartered Hong Kong transforms client journeys with digital deposit and wealth solutions

Standard Chartered Bank (Hong Kong) Limited (Standard Chartered Hong Kong) is pivoting its approach to deposits and wealth management by focusing on digital integration and products tailored to the needs of affluent clients. The bank’s recent innovations demonstrate a deliberate shift towards flexibility, accessibility and lifestyle-centric solutions.

“Our focus has been on creating deposit products that go beyond traditional banking, offering flexibility and rewards,” said Mona Sengupta, managing director, head of products - deposits and mortgages, Hong Kong. She outlined the Marathon Savings Account as a key product that combines attractive interest rates with withdrawal flexibility, addressing clients’ liquidity needs while encouraging disciplined savings.

Mona Sengupta, Managing Director, Head of Products - Deposits and Mortgages, Hong Kong
Standard Chartered Hong Kong

The Asia Miles Time Deposit, which rewards clients with travel miles instead of interest, highlights the bank’s integration of financial products with lifestyle benefits. “We stand at the forefront of innovation, offering miles-earning banking services which reflects our goal of merging lifestyle rewards with banking,” explained Stephen Man, managing director, head of wealth and retail banking, Hong Kong.

Stephen Man, Managing Director, Head of Wealth and Retail Banking, Hong Kong
Standard Chartered Hong Kong

Digitalisation underpins these efforts, with processes designed for efficiency and accessibility. Partnerships with global brands like Disney, Cathay Pacific and Visa further enhance client engagement through exclusive benefits.

Wealth management is another area of focus. Alson Ho, managing director and head of wealth solutions, Hong Kong noted, “Our wealth solutions are designed to provide tailored benefits that reflect the evolving financial priorities of our clients, from personalised advice to competitive tiered offerings.” This complements deposit solutions, creating a holistic suite of services for affluent clients. He added, “We have a supermarket model, offering a continuum of solutions, ensuring clients can find exactly what they need at different stages of their financial journey. From deposits to complex investment products, we aim to meet every need with a thoughtful mix of flexibility and returns.” Apart from access to full spectrum of open architecture funds, Standard Chartered Signature CIO Fund offers clients the opportunity to be exposed to a diversified portfolio in global equities, global bonds, commodities liquid alternatives and cash.  We believe a diversified portfolio should be a good starting point for client’s investment journey toward long-term financial success.

“Our ability to collaborate across retail, private banking and business banking ensures we deliver cohesive solutions to clients,” said Ho. “For example, while deposits provide the raw materials for our wealth offerings, wealth solutions bridge the gap by offering tailored advisory services and portfolio management.”

Alson Ho, Managing Director and Head of Wealth Solutions, Hong Kong
Standard Chartered Hong Kong

Standard Chartered Hong Kong continues to align its deposit and wealth solutions with the evolving expectations of its clientele, reinforcing its competitive position in Hong Kong’s financial market.

Redefining client experience with digital first

Standard Chartered Hong Kong  has prioritised digitalisation to simplify and enhance client interactions, focusing on accessibility, efficiency, and security. With majority of new fund flow (measured by number of accounts) now coming through digital channels, the bank continues to align its operations with the demands of a tech-savvy clientele while building flexibility to adapt to emerging trends.

Sengupta described the bank’s efforts to streamline processes: “We’ve reduced onboarding and account-opening steps for our existing products to just a few clicks, enabling clients to complete transactions conveniently.” This approach extends across the bank’s broader product portfolio, ensuring a straightforward experience for clients engaging with deposit and wealth solutions alike.

Digitalisation is supported by data analytics, which plays a central role in tailoring services to meet individual client needs. Sengupta highlighted the importance of segmentation: “Our analytics allow us to identify the right product for the right client and determine the best channel to approach them.” For example, clients identified through payroll accounts as having significant savings potential are seamlessly transitioned into wealth products. This strategy strengthens the bank’s ability to offer personalised engagement while deepening client relationships.

Ho remarked, “Digitalisation in wealth management is not just about offering convenience but about providing clients with intelligent tools that enable smarter financial decisions. This includes seamless portfolio access and personalised insights delivered in real time.” Through myWealth, the bank’s proprietary technology platform, client can have a personalised digital advisory journey by receiving tailored investment insights based on his/her risk profile, holdings and portfolio strength score.  Personalisation does not stop at the "insight" level.  We also provided customised portfolio construction in the relationship manager (RM)-assisted version, which enabled RM to conduct an in-depth portfolio review session with client and came up with a concise investment proposal.

Partnerships with leading brands are another key element of the bank’s digital ecosystem. The collaboration with Cathay Pacific has enhanced the Asia Miles Time Deposit, offering travel miles instead of interest. “This partnership connects financial products with travel benefits, aligning with the priorities of clients who value lifestyle rewards,” noted Man. In addition, the bank’s partnership with Visa has enabled remittance services to more than 30 countries, providing practical solutions for cross-border clients. These collaborations not only broaden the bank’s product appeal but also embed aspirational value into its offerings.

Digital platforms are integral to the usability of these products. “Our platforms allow clients to track rewards, access benefits, and manage accounts in real-time,” Man explained. Clients engaging with products like the Asia Miles Time Deposit or the Marathon Savings Account digitally benefit from enhanced transparency and efficiency, reinforcing the bank’s digital-first approach.

Customer protection is another crucial aspect of the bank’s digital transformation, safeguarding clients from potential fraud while maintaining a seamless user experience. “Transaction monitoring tools help us detect unusual activity, ensuring clients can use our digital platforms confidently,” Sengupta added. These measures are complemented by partnerships with technology providers, which strengthen the security infrastructure underpinning digital services.

Beyond security, the bank has focused on improving the ease of everyday transactions, particularly in remittance services. Sengupta remarked, “With features like remittances to 30+ countries, we’ve prioritised making transactions seamless for clients.” This capability is designed to meet the needs of clients with complex financial requirements, including frequent travellers and businesses with cross-border transactions.

By integrating digital infrastructure with innovative products, personalised services, and strategic partnerships, Standard Chartered Hong Kong has redefined how clients interact with financial services.

“By leveraging data analytics, we’ve identified key trends that allow us to create highly personalised wealth solutions. This approach strengthens the trust and value we deliver to clients,” added Ho.

Adding value through strategic partnerships

Strategic partnerships have become a cornerstone of Standard Chartered Hong Kong’s approach to delivering differentiated products and services. By collaborating with established brands, the bank enhances its offerings to cater to both practical and aspirational client needs.

The partnership with Cathay Pacific, the state carrier, exemplifies this strategy. Through the Asia Miles Time Deposit, clients earn travel miles instead of traditional interest, appealing to those who prioritise lifestyle rewards. “This partnership allows us to connect financial products with the lifestyle aspirations of our clients,” explained Man. By integrating Asia Miles into its deposit products, the bank taps into a client segment that values travel benefits, positioning itself as more than just a banking provider.

Similarly, the bank’s collaboration with Visa supports its digital innovation and client convenience efforts. Sengupta highlighted one outcome of this partnership: “Our remittance service enables transfers to 30+ countries, making cross-border transactions seamless for clients.” This feature addresses a critical need for international banking and reinforces the bank’s reputation for efficiency and reliability.

Disney is another strategic partner, contributing to products targeted at families and young professionals. These partnerships reflect a broader trend in banking where institutions collaborate beyond financial services to offer unique, value-added benefits.

Man noted that these alliances extend beyond product features. “Through partnerships, we’re able to bring in new ideas and co-create solutions that respond to emerging client needs.” This includes the development of exclusive privileges and experiential benefits that resonate with the bank’s diverse client base.

By leveraging its partnerships, Standard Chartered Hong Kong positions itself to address both the immediate and long-term priorities of its clients, from practical financial needs to aspirational goals. "In wealth solutions, partnerships are essential for expanding our capabilities. Collaborations with global asset managers and ESG-focused providers allow us to deliver differentiated advisory tools and tailor investment portfolios to clients' evolving priorities," explained Ho.

He added, “We bring the best of open architecture to our clients by offering third-party products alongside our own. This allows us to meet the diverse and often complex needs of our wealth clients while maintaining a streamlined, client-first approach.”

Balancing innovation with security

As Standard Chartered Hong Kong advances its digital and product innovations, balancing convenience with robust security remains a critical priority. The bank’s approach ensures seamless client experiences while safeguarding against increasingly sophisticated financial threats.

Ho highlighted the importance of integrating security measures without creating obstacles for clients. “We understand that our clients expect both convenience and protection. The challenge is to ensure that the user journey remains smooth, even as we implement advanced safeguards.” This dual focus is particularly important for wealth clients, who require personalised attention alongside secure digital access.

Sengupta noted the importance of integrating industry-leading technologies: “By working with partners like Visa, we ensure that our fraud detection capabilities remain at the forefront.” These partnerships have enabled the bank to expand its services while maintaining stringent security standards. Client education complements these technological measures. “Empowering clients with knowledge about phishing scams and data protection is as critical as the tools we use,” she added. 

To further its commitment to security and public education, Standard Chartered Hong Kong launched the “Anti-Fraud Restaurant,” a unique campaign transforming a dim sum eatery into an educational platform. Creative-themed dim sum dishes with playful names tagged with fraud prevention tips were served, aimed at raising public awareness of fraud, particularly among the elderly. The campaign also incorporated educational videos and public awareness activities in the community to reinforce the bank’s dedication to fraud prevention.

Performance and achievements

Standard Chartered Hong Kong’s results highlight the success of its client-centric strategies and innovative solutions. Man expressed pride in the bank’s recent performance: “We achieved very strong deposit growth and record-high income levels in wealth and retail banking. This growth reflects our ability to align our products with client needs while maintaining a competitive edge in the market.”

Man attributed the success to several key drivers, including the bank’s flagship products and digital adoption. “The Marathon Savings Account and Asia Miles Time Deposit have been transformative for client engagement, offering practical and aspirational benefits. These products have brought in a significant influx of new clients and deepened existing relationships.”

Digitalisation has played a pivotal role in driving results, particularly in wealth management. Ho highlighted: “Year-on-year, we’ve seen a significant growth in digital sales revenue in our wealth segment. This demonstrates how digital tools and advisory services resonate strongly with our clients, especially those managing complex portfolios across markets.”

The bank’s strategy to focus on its distinctive cross-border and affluent client banking also contributed to its success. Man noted, “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 position as a leading offshore wealth centre.”

Man concluded by acknowledging the broader market impact of these efforts: “Our ability to deliver innovative, trusted solutions has positioned us as a top choice for both local and international clients. This is not just about numbers; it’s about building enduring relationships.”

Sustaining leadership through innovation and integration

Standard Chartered Hong Kong’s strategic initiatives reflect a nuanced understanding of client needs and market dynamics. The supermarket approach, offering a broad spectrum of products from deposits to wealth solutions, highlights its ability to cater to diverse financial priorities. However, this diversity also presents challenges in ensuring clients are not overwhelmed by options and that product relevance is maintained across segments. The bank’s financial performance, including strong deposit growth and record-high income levels in retail and wealth segments, demonstrates the effectiveness of its client-centric strategies.

Digitalisation has significantly contributed to the bank’s success, with majority of new fund flow coming through digital channels. Strategic partnerships, including those with Cathay Pacific, Disney and Visa, have added aspirational value to the bank’s offerings. The bank’s progress thus far sets a strong foundation, and will remain dedicated to building a world-class business that is tailored to meet the evolving needs of its clients.