Standard Chartered Bank based in Kenya has reportedly completed its low-ticket money markets fund proposition motive for provisional wealth inclusion tweaking its mobile app. Introducing SC Shilingi Funds — the latest feature on the SC Mobile app the commercial bank flagships.
The SC low-monetary investment initiative was developed by the compact shared between the commercial bank and two other independent assets such as Sanlam Investments East Africa Ltd, Stanchart, and Standard Chartered Bank Kenya.
Standard Chartered Head Consumer, Private and Business Banking, Edith Chumba, revealed Shilingi Funds is developed as a provision for wealth management solutions.
Chumba said the latest version of the SC Mobile app for Kenyan users has the feat “Shilingi Funds” that awards expensive interest to its investors (users} posting investment offerings via the SC Mobile app. The commercial bank placed KES 1,000 as the minimum token to invest.
SC Mobile app features Shilingi Funds is a digital investment platform available for 24 hours all week, all year. Likewise Salem, Standard Chartered’s credit market availability to disperse cash on demand. The compact they had established the Money Market Fund operating as Shilingi Funds.
Kenyans posting investment via SC Shilingi Funds are not mandatory to either monthly, weekly, or daily investment commitment. Still, the SC Mobile app Shilingi Funds is tweaked to return users cash per users’ request discretion of instant withdrawal.
The SC Mobile app Shilingi Funds is also tweaked to balance its liquidity pool for users’ existing on either the current or savings account. Shilingi Funds inbuilt system connect with users’ data existing on the Standard Chartered database. The SC low-ticket money markets fund is developed to accept the Kenyan shilling — pushing the Money Market Fund economy with local currency.
The SC Mobile app’s high level of liquidity drives the Shilingi Funds interest rate higher than the returns clients receives for regular investment plan on either the current or savings account. Chumba said both new and existing clients banking with SC commercial services can access Shilingi Funds in Kenya.
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Paul Femi Balo is the founder and publisher of TechBooky. He covers artificial intelligence, African technology, digital infrastructure, enterprise technology and the global digital economy.
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