Standard Chartered Bank Botswana is targeting a digital adoption rate of 80% this financial year, moving more existing and new customers to its growing range of online services. Presenting the bank’s results for the half year ended June 30 this week, executives said during the period, digital utilisation reached 73% aided by initiatives such as cardless cash, Bank2Wallet and digital-only smart branches. The target of 80% for this financial year, which ends in December, compares to 70% achieved last year, 54% in 2020 and 28% in 2019. This year, Stanchart expects to open 15,000 digital accounts and just 17 paper accounts, compared to 12,274 and 808 respectively last year. The digitisation drive appears to have impacted the bank’s numbers for the half year, with operating expenses falling to P302.1 million, from P310 million in the previous corresponding. Bank executives attributed the reduction to sustained cost discipline across functions and added that expense efficiency is core to enabling Stanchart to create positive operating leverage, whilst creating capacity to continue investing in strategic initiatives.