In 2010, to support our customer-focused strategy, Consumer Banking introduced a platform of measures named the Standard Chartered Bank Way (SCB Way). Implemented across out entire sales structure, SCB Way helps us to ensure that we embed the right sales culture and provide clear direction and expectations at a leadership level; train and coach our managers so that they get the best from their teams; and provide training, tools and techniques to our frontline staff to enable them to conduct needs-based conversations with our customers.
This is underpinned by the implementation of new tools such as the Relationship Builder, which integrates sources of customer data for our small business customers and helps us manage customer relationships.
As part of Consumer Banking’s commitment to responsible selling, we have undertaken a number of improvements, which we will monitor annually, including:
Treating clients fairly is a requirement of both our Code of Conduct and our Financial Markets’ Dealers Code of Conduct. At a transactional level, we have procedures and controls in place to ensure that these codes are adhered to at all times.
Our Wholesale Banking business has put special complaints procedures in place that serve as a framework for consistent treatment and escalation of our clients’ feedback.
We have established a Distributor Transaction Approval Group (DTAG) to ensure that we manage the potential legal risks associated with the sale of structured products to financial intermediaries. We want to make sure that these intermediaries are as rigorous in treating clients fairly as we are.
Our ABC approach – standing for Accuracy, Brevity and Clarity – guides the way we write and produce marketing materials for our products and services. Any information we provide to clients is aimed to be accurate, factual, and to clearly state the benefits of each product. Finally, we keep the design of our marketing materials clean to ensure that our clients focus on the content and the benefits of our solutions.