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About Mox:
Standard Chartered’s goal was to build a full-fledged digital bank, Mox, with a cutting-edge personalised user experience, rapid onboarding, and a host of innovative features. To meet the 24x7 banking demands of the digital age, Mox’s goal was to re-imagine the bank with customer-first product propositions at the forefront.
Project overview:
- Standard Chartered built, configured and onboarded more than 400,000 Mox customers within four months
- Using Vault Core APIs, the bank gained the ability to fully digitize and orchestrate bank services, thereby reducing costs and operational footprint
- The new digital banking license allowed Standard Chartered to re-imagine its bank operating model, from customer acquisition product offerings to risk management
- Mox targets new mass affluent customers and expands to existing affluent segments in Hong Kong and the Greater Bay area. Utilizing real-time data and analytics, it created a speedy loan approval process. It developed Asia’s first all-in-one numberless card proposition, consistently achieving high customer satisfaction and award-winning status.
Deployment approach:
Digital greenfield: launched a range of new customer propositions, including current and savings accounts, savings pots, loyalty schemes and currency-denominated accounts, to acquire new customers