Standard Chartered's Africa CIO tackles digital banking, AI, big data

In this Q&A, Mohamed Abdel Razek talks about how digital banking is changing the way services are offered, and how that affects his role.

standard chartered bank zambia
Standard Chartered Bank

When Standard Chartered bank announced full-year results last month – including a 2 percent overall increase in operating income, to US$15.2 billion -- it said one of its key strategic priorities was to "transform and disrupt with digital."  One of the bank executives responsible for that transformation is Mohamed Abdel Razek, appointed last October as regional chief information officer for Africa and the Middle East (AME).

The bank has made significant steps in enhancing its digital offerings over the past two years, including the rollout of digital banking services in nine African markets and the launch of SC Keyboard, a bank service that allows customers to access financial services through social media accounts. It has also been beta testing a virtual bank in Hong Kong called Mox, which offers customers a numberless physical bank card designed to reduce risks of losing personal information, and which can be read via an app.

Razek joined Standard Chartered in May 2015 as global head of the Technology Operations and Collective Intelligence & Command Centre (CnC) and head of technology for Malaysia - Global Business Services. Before joining Standard Chartered, Razek worked for British American Tobacco between 2007 and 2015, where he held a variety of senior positions in Malaysia, the Middle East and North Africa. Razek has also worked for Schlumberger, where he held regional and global technology management roles in Europe and the Middle East.

In this edited Q&A, Rezak talks about progress for digital banking services and how he handles the CIO role.

Can you explain the structure of your virtual bank in Hong Kong, and digital banks in general -- what services do they offer?

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