Responsible selling and marketing


The Bank’s approach to responsible selling and marketing is based on management discipline in balancing growth with control of risks and costs. We achieve this by establishing the right culture and strong governance and in 2008, we enhanced the governance approach in Consumer Banking to increase the focus on product controls, management information and process improvement.

The fair treatment of customers is a standing agenda item for the Consumer Banking Risk Committee, which is chaired by the Chief executive officer of Consumer Banking, and reviews risk issues such as complaints, branch and sales management and regulatory developments. It also oversees the approval of new product proposals, considering issues of fairness in product development and meeting customers’ expectations.

Product design is based on customer segmentation so that products are targeted at appropriate customer groups, according to their experience and sophistication as well as the customer's willingness to accept different levels of investment risk.

The Code of Conduct

At the heart of our approach is the Bank’s Code of Conduct, which sets Group-wide standards of behaviour that employees must follow with each other, and with their customers, communities, investors and regulators, to ensure the right culture of fair treatment is instilled across Standard Chartered.

In September 2008, Standard Chartered launched the refreshed Code of Conduct. It was accompanied by a multilingual training programme which is mandatory for all existing and new employees. Employees are required to make the Code an integral part of how they work as it is essential for the Bank’s continued success.


All staff in Consumer Banking are required to complete training on Treating Customers Fairly (TCF) within three months of joining the Bank. It covers the whole product life cycle, which includes testing different aspects of fairness applied to practical banking scenarios.

Our direct sales representatives undergo further training which, along with robust performance standards, ensures that the customer experience and fairness issues are managed effectively.

A total of 20,267 Consumer Banking employees had completed the TCF e-learning by the end of 2008.


Today, Consumer Banking uses revised balanced scorecards for remuneration to ensure customer satisfaction is included as a performance measurement score. The scorecard measures quarterly and annual incentive compensation factors such as the Bank’s values, customer satisfaction and customer complaints. This achieves a better balance between creating the right approach to sales and serving the best interests of our customers. We intend to standardise the balanced scorecard approach with segment-specific differences across all sales staff during 2009.


  • 20,267employees trained in Treating Customers Fairly
  • Investment seminars for customers held in Singapore
  • SMSalerts to help customers manage their accounts