Insight Report: Best Practice in the Reward Credit Card Sector

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Category : Banking & Finance
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Introduction to Report
 Launch Date: June 13, 2014
 Number of Pages: 74
 Geography Coverage: Global
 Available Format: PDF
Price For Single User License: USD 3,800
Price For Site License: USD 7,600
Price For Global User License: USD 11,400
Delivery Time: Within 24 Hours (During Working Days)

About the Report
The report provides insights into reward credit cards
offered to customers in key markets. Banks are
increasingly using rewards and loyalty programs as a tool
for maintaining relationships with top-end customers, as
these relationships provide high potential for revenue
generation. Financial institutions are putting forward
premium experiences and offers to increase loyalty and
develop deeper banking relationships. Rightly positioned,
unique rewards act as a key differentiator in a highly
commoditized financial services market.

Research Findings
Consumers are moving away from conspicuous consumption to
more considered consumption, and access to special or unique
experiences through their card has gained importance. In this
altered environment, banks and other card issuers are adopting
various strategies to decrease operating costs and increase
revenue potential.
Banks and other card issuers are increasingly focusing on credit
cards designed to target mass affluent consumers driven by the
relatively high profitability offered by this segment. At times,
banks may run the cards at a loss, but benefit from the rest of
their relationships with clients through deposits, investments,
savings, mortgages, and asset and wealth management, among
others.

Research Findings Continues..
Card issuers have increased their focus on issuing credit cards
with travel benefits. Many issuers across the world, including
Bank of America, Chase, Citibank, HSBC, Commonwealth Bank,
Lloyds, Capital One, Hyundai Cards, Samsung Cards and Amex,
among others, issue premium cards which specifically focus on
travel-related services.
Banks and other card issuers are expanding their operations on
social networks through partnerships with merchants such as
retailers, restaurants, leisure centers and travel operators. The
partnerships provide opportunities to engage customers through
additional content, offers and discounts. These expansionary
moves are driven by a desire to improve consumer offerings and
increase revenues.

Research Findings Continues..
Bank-funded reward and loyalty programs have increased cost burdens
for issuers. Banks and card issuers have introduced similar loyalty
programs which have become almost indistinguishable. This has
compelled banks to carry out other expensive promotional initiatives to
set themselves apart. Consequently, issuers are moving towards
merchant-funded loyalty programs to lower their operating costs.
To remain profitable, banks have been making changes to their
strategies and operational models which includes finding the optimum
mix of funding options and reward offerings to achieve greater levels of
customer loyalty and profitability.
Consumers are traveling more than ever, and forecasts for outbound
trips indicate that this trend will continue over the next five years in key
economies. Consequently, card issuers and schemes offer credit cards
that focus on travel benefits to increase customer retention and attract
new customers.
There is increased investment in customer engagement strategies.
Schemes and issuers are offering personal concierge services on their
top-end credit cards, or access to exclusive events to differentiate their
products.

Report Coverage
1. Executive Summary
2. Global Reward Credit Card Sector Dynamics
3. Reward Credit Cards in Key Markets
4. Best Practices and Case Studies
5. Appendix
For more details regarding Report coverage see the last slide

Company Coverage (Partial List)
1. American Express
2. JPMorgan Chase
3. Citibank
4. Barclays
5. Capital One
6. Canadian Imperial Bank of Commerce
7. Royal Bank of Canada
8. TD Canada Trust
9. Bank of Montreal
10. Commonwealth Bank
11. Westpac
12. National Australia Bank
13. Shinhan Bank
14. Hyundai Card
15. Samsung Card
16. Visa
For more details regarding Report coverage see the last slide

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Insight Report: Best Practice in the Reward Credit Card Sector

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Insight Report: Best Practice in the Reward Credit Card Sector