12th April 2019

Standard Chartered launches innovation hub in Kenya

Standard Chartered Bank has opened its Africa eXellerator lab, an innovation hub that will serve as a platform to collaborate with Fintechs in Kenya and the broader African region, drive innovation and develop new business models or services to meet client needs in the Africa region. This adds to the Bank’s other eXellerator labs located in Singapore, Hong Kong, London and San Francisco.

Powered by SC Ventures, the Bank’s innovation, ventures and investment unit, the Africa eXellerator lab has been established at the Bank’s Kenya head office in Chiromo, Nairobi, where Fintechs can closely workshop new technologies and solutions.

Kariuki Ngari, Standard Chartered Kenya’s Chief Executive Officer, said: “We are a connector bank – connecting clients, markets and products with networks and facilitating trade and investment across our global footprint across some of the fastest growing markets. We are establishing an innovation centre in Kenya – the Africa eXellerator lab, to develop better products and services for our clients.”

Alex Manson, Global Head, SC Ventures, said: “Banking is all about serving clients in the way they want to be served. We are rewiring the DNA in banking both in and outside the Bank, including an extended team of partners as good ideas and great execution come from everywhere. Our eXellerators provide the tools and environment to develop, experiment, and validate new ideas and business models emerging from both our own intrapreneurs and our partners.”