Standard Chartered Bank: The Algorithm Agent

Standard Chartered Bank, a banking brand, increased applications for its Simply Cash Visa Card in Hong Kong by launching an algorithm agent that provides personalised, targeted content based on the viewing habits of young consumers.

Campaign Objectives & Challenges

Challenge

Our card acquisition suffered as a result of ruthless competition, a saturated market and an out-competed product.

Context

With over 20 million in circulation, every Hong Kong adult has more than four credit cards on average. Market growth has decelerated for seven straight years, falling to 1.1 % — a sixth of what it was in 20111. 'Wallets are reaching full capacity' in this saturated market.

Without the benefit of category growth, banks fight each other over the same cardholders. They resort to desperate acquisition tactics, such as deploying aggressive street agents to...

WARC subscribers can sign in to keep reading

Not a subscriber?

Schedule your live demo with our team today

WARC helps you to plan, create and deliver more effective marketing

  • Prove your case and back-up your idea

  • Get expert guidance on strategic challenges

  • Tackle current and emerging marketing themes

We’re long-term subscribers to WARC and it’s a tool we use extensively. We use it to source case studies and best practice for the purposes of internal training, as well as for putting persuasive cases to clients. In compiling a recent case for long-term, sustained investment in brand, we were able to support key marketing principles with numerous case studies sourced from WARC. It helped bring what could have been a relatively dry deck to life with recognisable brand successes from across a broad number of categories. It’s incredibly efficient to have such a wealth of insight in one place.

Insights Team
Bray Leino

You’re in good company

We work with 80% of Forbes' most valuable brands* and 80% of the world's top top-of-the-class agencies.

* Top 10 brands