S'pore bank enters crowded card market with TV splash

HONG KONG: Singapore bank, United Overseas Bank, has plunged into Hong Kong's crowded credit card market as part of a drive to shed its traditional image as a corporate banking group.

The UOB Visa and gold card launches come at a time when the bank is seeking to strengthen its role in consumer banking in preparation for its entry into China. The card launches are supported by a television and print burst, positioning UOB as a contemporary brand which offers a range of choices to cardholders.

Local shop Freeway created the advertising as well as the brand's positioning, card and collateral design, media planning and buying.

Freeway managing director, Desmond So, said the strategy had been to differentiate the card from rivals through its look - both are translucent cards - and with a brand rather than tactical acquisition campaign. One execution highlights the choices and value UOB provides cardholders, which range from cash rebates of up to one per cent and low interest plans, with balance transfers at 1.9 per cent, claimed by UOB to be the lowest in the market.

UOB Hong Kong credit card centre head, Lawrence Tsong, said customer relationship initiatives would be rolled out shortly to build on the momentum created by the launch initiatives.