Standard Chartered Bank Launches The "Service Guarantee" For Personal Unsecured Loans

28 July 2008, Kampala – Standard Chartered has for the second time in one month launched yet another first in the market – the “service guarantee”. The Bank is making a commitment to meet a minimum standard of service, failing which, the customer will be compensated for having to wait longer. This is in line with the Bank’s commitment of being the Right Partner to its customers and providing the most relevant products and services to its customers. This was revealed at a breakfast the Bank hosted for its customers at the Sheraton Kampala Hotel.

Speaking at the occasion, Lamin Manjang, the Chief Executive Officer and Managing Director reiterated that the Bank will continue to lead the way in its chosen markets and set the pace for state of the art products and services to cater for the ever evolving needs of customers. Stipulations of the service guarantee are as follows:

Mr Manjang said, “Standard Chartered is honouring its pledge to delight customers by promptly responding to their needs. This is an agreement and the Bank promises to honour its part of the bargain. The time has come when the customer should no longer be taken for granted. Customers should receive value for their money. We will deliver this promise either at our Home of Loans at Garden City or any of our branches countrywide.

Within 24 hours of a customer giving in their loan application, the Bank will give a response whether the applicant has qualified for the loan or not.
The Bank will communicate through SMS to a customer to confirm when they receive the complete application and supporting documents
The Bank will also send an SMS to give the response on whether the application has been successful or not.
If the Bank does not respond in 24 hours, we will pay UGS 500,000/= cash to the customer.
Customers whose loans are approved will then get their money soon afterwards, assuming their application meets all necessary requirements.
In the event that the Bank requires more information from the customer, or the application is not complete, the customer will receive communication from the Bank within 24 hours advising them of the status of their loan

Also speaking at the breakfast event, Herman Kasekende, Head of Consumer Banking at Standard Chartered reiterated the banks commitment to superior customer experience.

Mr. Kasekende said “Our Promise as Standard Chartered is to be the Right Partner to our clients. This means listening to your needs and providing relevant solutions; walking step in step with you; supporting you to achieve your success; and in the process, having some fun as well.
“We are passionate about customer experience- what our customers see, hear and feel when they interact with any of our various touch points. This passion has driven us to continually innovate – through seven day banking, unique products designed for specific segments, like the Diva Club Account; and now the Service Guarantee.”

The service guarantee comes into place within the same month that Standard Chartered launched the e-statement – that is a free statement sent via email to all customers who opt for the service. Other banking services designed for customer convenience include a state of the art Call Centre offering free phone banking services. In addition, to provide more flexibility for our customers, our Garden City and Kikuubo branches open every day up to 7:00 pm. We remain the only bank in Uganda which provides 7 day banking.

Standard Chartered Bank has a long history and deep commitment to the development of business in Uganda. This commitment as well as the passion and knowledge that our teams bring to clients in addressing and improving their evolving needs have generated many industry firsts. It is our promise that this innovation will continue.

For more information, please contact:

Herbert Zake
Head of Corporate Affairs, Standard Chartered Bank Uganda Limited
Tel: 041 258211-7/ Extension 4283 Mobile: 071 2 760290
Direct telephone lines: +256 414 348775 or +256 312 294283
Email: Herbert.Zake@ug.standardchartered.com