——Blaze an Innovation Path with Individualization

    As of March 12, China Everbright Bank had issued more than one million credit cards, marking a new step in the credit card scale and strength.

    Taking advantage of the opportunity, China Everbright Bank will initiate a “Brilliant Gifts for One Million Credit Cards” activity to reward the customers, including sale privileged promotions of merchants, card consumption reward, golf invitational tournament, SOS health lecture, fashion Party and etc., and bring customers splendid rewards.

    Starting to issue credit cards in the second half of 2004, China Everbright Bank is a new force in domestic credit card market. Taking advantage of business transition and fast development of personal banking business, the Bank devotes large efforts to boost the development of credit card business, and makes bold explorations and experiments in product innovation, procedure reengineering, brand construction and etc. in 2006. In the field of card innovation, China Everbright Bank spares no effort to introduce the influential and competitive new credit cards, builds up a good reputation and occupies a considerate market share in the increasingly fierce domestic credit card market.

    Against the fierce competition and increasing product homogeneity in today’s domestic credit card market, what measures does China Everbright Bank adopt to ensure a sudden rise in the credit card business?

    Head of the Credit Card Center of China Everbright Bank says:

    The credit card business has cultivated its own business features and sustainable competitiveness through highlighting 4 works.

    1. Promote scale growth with product innovation. We design products in accordance with the requirements of customers to ensure the tenet of “customer orientation”. Since 2006, China Everbright Bank has launched 7 innovative new products through market research and market segmentation. These products, with explicit positioning of target customers, distinctive product differentiation and reasonable design of value added service, realized the expected market response upon their successful launch, and enabled China Everbright Bank to take a leading position in the domestic industry in terms of differentiation and diversification of credit card products, paving way for the scale development of credit card business. In 2006, the Bank achieved more than 40 functions, including line sharing between multiple cards, password customization, consumption message reminder, color picture card and etc. It is because of the outstanding performance in product innovation that China Everbright Bank’s credit card won such honors as “Most Customized Credit Card”, “2006 Credit Card Gold Prize” and etc. from the media and relevant institutions.

    2. Provide customer best experience with service innovation. The customer service center of China Everbright Bank’s Credit Card Center has set up reasonable customer complaint handling procedures and assessment system, and implements a regular customer complaint reporting mechanism. Aiming at reducing the call loss probability, China Everbright Bank makes efforts to enhance the quality of customer service, and effectively controls the call loss probability of manual call service under 5% in 2006, reaching the standards of international advanced banks. The Bank has passed the CCCS five-star customer service certification and become one of the few CCCS five-star customer service centers. Credit card developed by China Everbright Bank was awarded the honor of “Best Customer Experience” in the “2006 Chinese Credit Card Evaluation Report” by hexun.com, making China Everbright Bank one of the 4 “Excellent” credit card issuance banks in China.

    3. Improve the production capacity and efficiency with procedure innovation. Credit card centers in China generally serve as a functional department, which dissevers the complete business process and result in high internal transaction cost and serious efficiency impairment. To respond to such procedural defects, Credit Card Center of China Everbright Bank initiated a thorough reformation on the application, approval, activation and recovery procedures in 2006. The new business procedures change the linear functional structure into a parallel procedure network, and realize the seamless connection between procedures with complete and coherent business procedures. The one year’s operation proves that the new procedures basically accomplished four objectives: 1. it improved the work efficiency and reduced the approval period to 5.7 business days on average; 2. it enhanced the production capacity; 3. it effectively prevented the operational risks and moral risks; and 4. it significantly reduced the cost.

    4. Build sustainable competitiveness with brand operation. To break through the dilemma of homogeneous competition, China Everbright Bank took the initiative to promote credit card brand operation in China and achieved preliminary success in 2006. It highlights two points in brand operation: 1. promote the establishment of self-developed brands, for instance, Yanhuang credit card arouses wide attention due to the special status as the first national-branded credit card in China; 2. cultivate the cultural connotation of the brand and meet customers’ psychological needs. The “Fu” card, for instance, embodies the long standing “Fu” culture of the Chinese nation, and grants continual vitality to the credit card while carrying forward the national culture.

    As a medium-sized joint-stock commercial bank, China Everbright Bank does not regard scale expansion as the only strategic priority of credit card business; instead, it attaches high attention to the harmonious development of scale, quality and economic benefits. After realizing the goal of 1 million issued credit cards, China Everbright Bank will make further efforts to promote the innovation of credit card products, marketing, procedures and services, and provide quality service for the cardholders, in order to build a leading credit card center characterized by best services and high economic benefit per card.