Standard Chartered Bank has launched its retail digital banking initiatives in India to target the young and emerging affluent customers.

As a part of the initiatives, the bank launched a suite of digitally powered banking services across account opening, UPI transactions and virtual relationship managers (RMs).

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“Consumers, particularly millennials, expect banking services to be faster and seamless on the back of smart digital interfaces. The launch will help the Bank take its rich product-suite to the young and emerging affluent customers, even as it reinforces its strong position with the affluent audience,” the bank said in its press statement.

Customers can now instantly open a savings account with Standard Chartered Bank using their Aadhar details through online or mobile interfaces. Aadhar is a unique identification number issued by the Indian government to every individual resident of the country.

The digital initiative will also allow customers to make investments in mutual funds and initiate payments through Unified Payment Interface (UPI) and Bharat QR.

To quickly resolve queries and seek advice, customers can chat online with their RMS. Priority and premium banking clients are given additional option of video conferencing with RMs.

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Standard Chartered Bank India CEO CEO said, “Recognising the rapid adoption of technology in a young and aspirational India, we had embarked on a journey of Retail transformation, with the clear intent to use technology with a human touch, transforming the entire client experience; making it digitally capable and seamless, but keeping customer centricity at the core of all we do.”