Inevitable for Banks to Push for Further Digitalization, Says Augusto Beato

March 15, 2019
Download as PDF Single Release RSS Feed
Facebook Twitter Google Digg Reddit LinkedIn Email

Portland SEO's Augusto Beato said that it's not surprising for banks to move in the general direction of e-commerce where there are less human physical interactions and more remote service provisions.

Beato was reacting to news that Standard Chartered Bank will pump more investment into digitalization.

"By embracing digitalization, banks can provide enhanced customer services and convenience to customers as well as save time," said Beato, who is the CEO of Portland SEO. "Digitalization reduces human error and thus builds customer loyalty."

Find out how digitalization can enhance your business by contacting Portland SEO through this link.

StanChart had also recently piloted the use of blockchain and next-generation payment technology to enhance efficiency, security and improve client experience. Other digital initiatives it participated include MyInfo, PayNow, and PayNow Corporate.

This comes as its operating profit more than doubled last year, to the highest since 2014.

StanChart reported a 15 percent income growth for its commercial banking arm, 11 percent for its retail banking business, and six percent for its corporate and institutional banking services in 2018. Earnings from its private banking arm, however, dropped four percent. Additionally, after increasing its return on equity from just over two percent in 2017 to 6.1 percent, the bank will be aiming for double-digit growth globally. The metric measures how effectively a company’s assets are used to generate profits.

This comes on the back of StanChart’s group CEO Bill Winters’ decision last month to restructure operations in various markets and cut US$700 million in costs over three years.

The move will include streamlining operational processes, redeploying full-time employees to reduce concentration in “big-cost hub locations”, and a global third-party vendor review. Over the past few years, the bank has been trying to regain investors’ confidence as it cleans up bad debt left by predecessors who poorly managed its expansion.



SOURCE: Press Advantage [Link]

Download as PDF Single Release RSS Feed
Facebook Twitter Google Digg Reddit LinkedIn Email

About Portland SEO:

Here at Portland SEO we earned the reputation as the best Internet Marketing Service in all of Portland for a reason. We Offer : SEO Services, Reputation Management, Social Media Marketing, Web Design, Public Relations, Video Production, PPC

Contact Portland SEO:

Augusto Beato
111 SW 5TH AVE
Suite 3100,#3102
Portland, OR 97204
(503) 278-5580

Social Media:

Additional News Releases From Portland SEO:

July 09, 2019Augusto Beato Tells Entrepreneurs to Strike a Balance Between Efficient Deliveries and Costs

July 02, 2019Portland SEO's Augusto Beato Bats For a More Respectful Manner of Monetizing Ads

May 31, 2019Soften Impact of Ad Stalking by a Personalized Method of Reaching Consumers, Shares Digital Marketing Expert

May 21, 2019Facebook's New Ad Policy Not Necessarily a Win for Privacy, Augusto Beato Says

April 10, 2019Japan's Aversion Towards Sex Leads to Dreadful Consequences, Warns News Analyst

April 05, 2019Bezos Divorce Symbolizes Fragile State of Digital Privacy, Says Online Content Expert

April 02, 2019It's About Time Social Media Thumps Fake News Menace, Says Digital Content Specialist

April 01, 2019No Excuse for Hotels in Not Securing Privacy of Guests, Avers Online Consultant

March 29, 2019Google’s List of "Killed" Products to Grow as it Further Experiments, Forecasts Digital Content Expert

March 27, 2019Airline Safeguarding Lives by Canceling Orders from Boeing, Avers Logistics Exec