Standard Chartered Becomes First Foreign Bank to Launch Full Banking and Payments App


Standard Chartered (China) has become the first foreign-invested bank in China to launch a mobile app that enables users to both open accounts and settle transactions via third party payments providers according to domestic media reports.

On 10 December Standard Chartered announced the launch of a mobile app providing a broad swathe of functions including remote opening of renminbi deposit accounts (type II and III), the online purchase of insurance products and third party payments functions courtesy of Alipay and WeChat Pay.

According to the new app from Standard Chartered is the first from a foreign-invested bank in China that covers the “closed circuit” of services from opening of accounts to payment for transactions.