China CITIC Bank employs data-oriented strategy to activate dormant card accounts
China CITIC Bank’s credit card activation rates improved 389% since implementing SAS’ marketing campaign, designed to improve credit card management. February 07, 2013 | Baron LaudermilkBackground China CITIC Bank is China’s eighth largest bank in terms of total assets, and ranked 18th in The Asian Banker’s “Top 500 Strongest Banks 2012” for its low non-performing loan ratio and high return on assets (ROA) and return on investment (ROI) ratios. The bank has steadily increased its presence in China over recent years and now operates more than 78 branches and 622 sub-branches countrywide, with a team of more than 33,000 employees. China CITIC Bank’s Credit Card Centre has over 17 million customers, and is one of the top 10 issuers of credit cards in China. The bank’s credit card centre is one of its strongest revenue engines. A recent research conducted by technology vendor SAS indicated that the number of credit cards circulating in China is expected to double in a matter of years and China CITIC Bank aims to benefit from this growth. In 2009, China CITIC Bank discovered that despite the increasing number of its credit card holders, many remained inactive. By early 2011, the bank’s credit card centre intensified marketing campaigns in a bid to activate the sleeping credit card portfolio, but to no avail. Despite the credit card centre’s rigorous campaigns to lower cardholders’ inactive rates, the inactive portion of China CITIC Bank’s credit card portfolio continued to increase. The challenge After years of focus on the mass distribution of its credit cards, China CITIC Bank decided to shift its focus to enhancing customer service. In 2011, the bank’s credit cards’ active rate stood at a dissatisfactory level, with problems stemming from ineffective marketing campaigns, inadequate data modeling to spot trends, and not having a sufficiently strong gift strategy to incentivise customers. The solution China CITIC Bank subsequently employed SAS (China) to implement a marketing campaign to increase the activation rate of t... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Cards, China, Customer Centricity, Data & Analytics, Data Management, FSI Customer Relationship Management , Retail Banking, Technology & OperationsCards,China,Customer Centricity,Data & Analytics,Data Management,FSI Customer Relationship Management ,retail,technology, Cards,China,Customer Centricity,Data & Analytics,Data Management,FSI Customer Relationship Management ,Retail Banking,Technology & Operations, Keywords:China CITIC Bank, SAS, Data Modeling, SAS EM, SAS DM China CITIC Bank, SAS, Data Modeling, SAS EM, SAS DM
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