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November 25, 2014

CI recognises the Asia cards trailblazers

Innovation and customisation were seen as key differentiators for winners of the first-ever Cards and Electronic Payments Asia Trailblazer Awards 2014. Winners were recognised at the CEPI Asia Trailblazer Awards Gala Dinner in Singapore. Sruti Rao reports

By Sruti Rao

Innovation and customisation were seen as key differentiators for winners of the first-ever Cards and Electronic Payments Asia Trailblazer Awards 2014. Winners were recognised at the CEPI Asia Trailblazer Awards Gala Dinner in Singapore. Sruti Rao reports

In its inaugural year, the CEPI Asia Trailblazer awards reflected the latest trends in the cards and payments arenas, and highlighted noteworthy initiatives that have established a strong foothold in the last year.

The CEPI Awards categories were created keeping in mind the different geographies in Asia and their unique needs. A number of awards centred around country level offerings for credit cards, debit cards and prepaid cards, and these are complemented by all-round product, service and strategy focused awards in the cards and payments space.

The panel of judges incorporated local industry expertise and longstanding knowledge of Asia’s retail financial services industry. The judging panel was actively involved in the evaluation process guaranteeing the independence and transparency of the programme.

Here are the trailblazing winners of the first CEPI Asia Trailblazers across the 25 awards titles.

Credit Card product of the year – Asia Pacific: Hong Leong BankHong Leong’s Wise Card is award worthy as it has quickly become a front runner in the Asia Pacific market since launch. Wise Card is also an attractive customer acquisition channel, alongside being an exceptional customer service channel, leading to an increase in Hong Leong Bank’s Credit Card Accounts by 30% while generating 27% higher spend per card as compared to the rest of the card portfolio. This represents big success.

Highly Commended: OCBC Bank, Singapore

Credit Card product of the year – Singapore: OCBC BankDesigned primarily for Gen Y consumers, OCBC’s Frank Credit Card, re-launched with significant upgrades in 2013, now provides customers with original and personalised services – a need of the hour for discerning young clients in Singapore. OCBC has exhibited a thorough understanding of the Singapore market and clientele – making FRANK the fastest growing product in the bank’s suite of core credit cards, and a clear leader in credit card product innovation.

Highly Commended: ANZ Bank, Singapore

Credit Card product of the year – Malaysia: Citibank Berhad A credit card that focuses on customer empowerment – putting cardholders in the driver’s seat – is what Citibank’s Rewards Platinum card provides. Its unique proposition allows cardholders to decide how they want to be rewarded at any point in time, which differentiates it from the other credit cards in the Malaysian market."

Highly Commended: Alliance Bank Malaysia Berhad

Credit Card product of the year – Indonesia: Bank Mega"Having developed a targeted value proposition catering to specific needs of the high-end customer base in Indonesia, Bank Mega’s Infinite Credit Card is a complimentary product to the lender’s Priority Banking Division. It offers a variety of indulgences keeping in mind the various aspects of Bank Mega’s cardholder’s lives, ranging from professional banking services to personal and family protection. In 2013, the number of accounts via the Infinite Credit Card grew 200%, while sales volume increased by 300%, which is a tremendous accomplishment for a card that caters to the high-end segment in Indonesia."

Credit Card product of the year – Philippines: RCBC Bankard "Philippines’ credit cards market is both highly competitive and costly. RCBC Bankard developed and launched its credit card with proprietary financial management tools, allowing cardholders to better manage their accounts and not overspend."

Credit Card product of the year – Thailand: Krungsriayudhya"Krungsri has positioned itself as a market leader with its Krungsri-TCC Privilege credit card, with its ability to manage four different levels of corporate clients in different location throughout Thailand. Bundling rewards offers from Krungsri Platinum Privilege together with benefits under TCC Group, the credit card assists Krungsri in driving its operations across various business segments as well."

Credit Card product of the year – Taiwan: CTBC Bank"CTBC Bank in Taiwan managed to avoid any downsides when its contract with long-term partner, Costco, ended in 2013. CTBC smoothly implemented its "Dual Card Migration Plan" by issuing a new Super Life Visa bank card to the Costco cardholders, without additional application processes. CTBC Bank emerged with over 95% of its customer base intact and high-levels of spending."

Debit Card product of the year – Asia Pacific: DBS Bank"The PAssion POSB Debit Card is a true trailblazer being a unique community lifestyle product in the debit card sector. It has seen a huge uptake since its launch in January 2014. The debit card sets the stage for a consumer-centric, value-added, all-in-one debit proposition that is enhanced with NFC capabilities and also enables easy worldwide acceptance."

Highly Commended: OCBC Bank, Singapore

Debit Card product of the year – Singapore: DBS Bank"The PAssion POSB Debit Card is a product that, while befittingly catering to the larger APAC market, also ensures significant value addition for clients in its home market – Singapore. Responding to the changing customer needs for more niche services via debit cards, it is a step towards rewarding the Singaporean community through exclusive offers, privileges and discounts."

Debit Card product of the year – Philippines: Bank of the Philippine Islands (BPI)"BPI has consciously been trying to move people onto transacting via cards from cash for years, and the BPI Express Teller Card is a secure and multidimensional product that pushes customers into a habitual use of electronic payments. The BPI Express Teller Card also provides revenue streams to the bank in the form of merchant discount rates and additional income."

Debit Card product of the year – Australia & New Zealand: Ubank"Ubank, part of the National Australia Bank (NAB) Group, is one of the most dynamic and innovative lenders in the Australia and New Zealand markets, being an online only bank. USaver Ultra is Australia’s first Transaction Account that manages a customer’s money on their behalf, and maximises the interest customers earn on money every day whilst giving them easy access to cash, and also enhances customer engagement by making processes effortless."

Debit Card product of the year – Thailand: Kasikorn Bank"Thailand’s cards market is extremely innovative and fast changing. Kasikorn’s K-My Debit Card offering, however, truly distinguishes its proposition by focusing on affordability and fun. Through specific collections within the K-My Debit Card range, such as DIY collection, the Character Collection, Kasikorn has carved out a distinct niche and treats its clients as individuals, making the user experience smooth, involved and tailored."

Prepaid Card product of the year – Asia Pacific: Security Bank"The Sweep Card is Security Bank’s all-in-one prepaid product that makes a compelling proposition for the mass-market as well as the under-banked segments of the population. It is Security Bank’s first NFC enabled card that has a back-end wallet, the ability to store loyalty points and enable card-less remittances through the eGiveCash facility. The Sweep Card innovatively introduced the open loop system, amidst a closed loop environment in the Philippines, which is a trailblazing initiative."

Highly Commended: East-West Bank, PhilippinesHighly Commended: ICICI Bank, India

Business Proposition Awards:

Best Affinity Co-Branded Card Programme: Taishin Bank, Taiwan"In light of rising card-spend in retail outlets, Taishin bank implemented significant upgrades to its SKM card with targeted marketing campaigns to the younger customer segment, flexible rewards points offers and rebate programs. The SKM+ card a noteworthy example of the bank’s successful co-branded partnership with an established retail outlet, and its drive towards improved service standards to the younger clientele."

Highly Commended: Krungsriayudhya Card Co. Ltd, Thailand (in partnership with Tesco Card Services Ltd.)

Best Alternative Payments Programme: Security Bank Corporation, Philippines "The NFC enabled eSweep card by Security Bank Corporation saw great traction through the year with its open-loop all-in-one card that provides services that go beyond basic banking, such as easy access to top-up and making purchases, at the tap of the card."

Best Business Card Programme: Alliance Bank Berhad, Malaysia "The bank has brought forth a great deal of strategic initiatives through the year that truly hone in on the interests of its SME customers. The Alliance MyBusiness Platinum Card is indeed a representation of the bank’s focus strategy on business banking customers, with differentiated card personalisation options, flexible payment plans and access to networking and educational seminars as some of the features that make the MyBusiness Platinum Card an effective product proposition."

Highly Commended: Citi Philippines

Best Card Benefits Programme: Taishin Bank, Taiwan"Taishin Bank’s iCreditCard allows cardholders to check and choose their credit card benefit programs according to their own personal preferences, and implement for themselves what they would regard as the optimal benefits program. In a competitive landscape where other card propositions focus on niche segments of the banks’, this approach gives the customer total flexibility and control."

Best Card Customer Service: DBS Bank, Singapore"The DBS Insignia Service Ambassador programme provides personalised customer service to the bank’s Insignia clients. Building dedicated teams to understand individual habits and preferences, sophisticated offerings with concierge services and access to exclusive events are some of the examples to how the programme has raised the bar to accentuate the ‘personal’ in banking".

Best Card Design: Citi Philippines"Associated to the Citi Rewards Card, the Citi Blue Wave card design brings an innovative and unique display for cardholders. Localised to the cultural bearings of the Philippines, the Citi Blue Wave card design visibly stands out from its counterparts in the market and highlights the bank’s efforts to accommodate to local preferences."

Highly Commended: Kasikorn Bank, Thailand

Best Card Marketing Campaign: Hong Leong Bank, Malaysia "This is a card marketing campaign that has identified the ways of effectively engaging with its target market. The co-branded GSC-Hong Leong movie credit card in Malaysia, leveraged on a major movie release to positon a 360 degree marketing campaign across multiple traditional marketing platforms and digital interphases. A comprehensive outreach led the card product to see a whopping 11,000 sign-ups and 10,000 leads – a noteworthy validation of its success."

Highly Commended: Bank of The Philippine Islands

Best CRM Programme: ICICI Bank, India"ICICI bank’s implementation of the First Data’s Salesforce CRM programme has made a positive impact on the institution’s management of merchant functions. The First Data solution significantly helped the bank manage key merchant services and enabled greater efficiency in merchant services management for the bank."

Best Initiative in Mobile Payments: ANZ Bank, Australia"As the first major bank in Australia to launch a compliant MPOS chip/pin/contactless card payments, ANZ Bank’s partnership with Ingogo is a pioneering effort that provides MPOS payment terminals compatible with Android devices, and allows customers to make in-app cloud based payments for taxi fares."

Highly Commended: C B Bank, MyanmarHighly Commended: Union Bank of Taiwan

Best Merchant Acquiring Initiative: Kasikorn Bank, Thailand"A leader in digital banking, Kasikorn bank launches yet another market-first with K-Power Pay, a mobile payments solution, compatible to both iOS and Android devices, to accept smart phones and tables as secure point-of-sale devices for credit card transactions."

Highly Commended: C B Bank, MyanmarHighly Commended: Citibank Singapore

Best Security Fraud Development: Commonwealth Bank of Australia, Australia "This is a proposition that has integrated innovative practices with security standards, addressing a key industry concern of fraud and cybercrime but still providing customers convenience and control of their card security. Launched in May 2014, the Lock and Limit application by CBA allows customers to control their respective credit card security standards by setting their own limit per transaction."

Best Technology Initiative: DBS Bank, Singapore "Known to embrace technology across the value-chain, DBS bank has highlighted its intricate understanding of efficient front-to-back-end system implementation with the Business Activity Monitoring (BAM) tool. Offering a real-time view of application processing on a simplified dashboard has helped bring greater visibility and smooth data flows, that eventually ensure quality customer experience".

Highly Commended: PT. Bank Pan Indonesia Tbk.

Trailblazer of the YearDBS Bank

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