Seychelles Commercial Bank Stakeholder’s Event : Digital Transformation – Shaping the future

On Saturday, October 26, 2024, the Seychelles Commercial Bank hosted a stakeholder event at the Savoy Resort & Spa Seychelles. The primary purpose of this gathering was to formally acknowledge and extend gratitude to its esteemed partners, whose unwavering support has been instrumental in the Bank's efforts to enhance its product offerings and expand its digital capabilities.

The Bank also officially launched its new Internet banking platform and Point of Sale terminal, alongside an upgraded version of its website. These developments underscore the Bank's commitment to deliver more digital solutions to its clientele. A couple of international partners presented their insights that have facilitated the Bank's journey toward digital transformation.

Mrs. Annie Vidot, the Chief Executive Officer, in her opening remarks stated that the Bank is convinced and committed that digital transformation shall be shaping our future.  She further emphasized the resilience of the Bank in the face of various challenges while Mr. Patrick Payet, the Chairman, provided a keynote address that recounted the Bank's history and highlighted significant milestones that have solidified the Seychelles Commercial Bank’s status as one of the top commercial banks in Seychelles.  He also acknowledged and expressed gratitude for the support and cooperations of the various partners who have facilitated the Bank's journey in the financial, technology and digital payment advancements. 

The Bank was honoured to have presentations from two of its key overseas partners, CR2 and Oracle who shared insights of their global presence, their diversified and advanced digital product offerings and the unceasing partnership with SCB.  The CR2 Chief Executive Officer, Mr. Fintan Byrne emphasized the creation of seamless payment experiences, highlighting the significant progress made with SCB so far.  He further shared that the strengths of CR2 lie with reliability, security and more payment conveniences which could be opportunities for future collaborations with the Bank.  On the other hand, Mr Upender Singh, the Senior Sales Director of Oracle recalled the long-standing relationship and core banking journey with SCB and made commitments for advanced technological support through their upgraded systems offerings.

Since its inception in 1981 the Bank has achieved notable progress over the span of 43 years and has emerged as a prominent financial institution. It currently operates 6 branches and 14 strategically located ATMs across the three mail islands. In addition to the newly launched services, Seychelles Commercial Bank offers cash deposit/recycler ATM, contactless debit visa card as well as night safe facility. Moreover, it has been extending various types of Retail and Corporate loans other than accepting deposits from public. Seychelles Commercial Bank has the highest number of account holders in its books and has been playing a pivotal role in providing employment opportunities for the local community, thereby offering them prospects for advancement within the financial sector.

Over the years, the Bank has evolved from complete manual transactions to an automated core banking framework. The Bank has effectively diversified its products and integrated digital technologies to effectively address the changing needs of its customer base. Given that digital transformation in the banking sector is an ongoing and dynamic process characterized by continual advancements, the Bank’s endeavors are poised to continue, paving the way for further advancements in the foreseeable future.

The event was attended by the Minister for Investment, Entrepreneurship and Industry, Ms Devika Vidot and also had participation from a diverse group of stakeholders, including local partners, business and retail clients, some long-standing customers, SCB Board members, senior bank executives and staff members with over 30 years of service.