Bangkok--19 Nov--Siam Commercial Bank
Siam Commercial Bank is further developing its successful retail banking strategies based on segmentation marketing to reach customers at all levels, aiming to double its base. The Bank is launching “SCB FIRST Privilege Banking” especially for affluent customers with strong earnings potential, successful careers and financial stability who seek better choices for management of their wealth. This premium service includes private advisory and investment services as part of an asset allocation management program that provides professional recommendations that can optimize returns. SCB FIRST Privilege Banking also offers exclusive lifestyle privileges for travel, health and entertainment. In addition, the Bank is launching its first "SCB FIRST Lounge" at Siam Paragon Shopping Complex to cater to affluent customers.
"SCB has embraced a ‘Customer First’ strategy to develop financial products and services that cater to the most diverse customer demands based on a deep understanding of customer requirements,” Mr. Yol Phokasub, Retail Banking Group senior executive vice president, said.
“By adopting segmentation marketing to expand SCB’s penetration of the retail market, the Bank divides its 13 million customers into three main groups: mass, affluent and private. In this instance, the Bank created the SCB FIRST campaign to capture the affluent market while also creating a linkage between SCB and all groups of customers. Customers in the affluent group are those who demonstrate substantial success in their careers, who have strong financial potential and who place importance on savings, investment and increasing their assets."
SCB FIRST Privilege Banking is designed for customers having deposits, investments or insurance premiums with a total value of 10 to 50 million baht. The service features an SCB FIRST Wealth Consultant which provides an integrated financial solution based on products and services tailored by a special asset allocation management program. The program helps provide recommendations on diversifying assets to develop higher returns. In addition, the new service provides the comfort and convenience of the SCB FIRST Lounge, located on the third floor of Siam Paragon shopping complex.
SCB FIRST clients will also be entitled to receive a wide range of exclusive lifestyle privileges developed using a survey on the special needs of these customers. Travel privileges allow flight upgrades on Asian routes. Health privileges offer 12 Thai massage sessions a year at Health Land as well as fitness club memberships at three leading hotels. Entertainment privileges ensure that customers will get priority in seat reservations for their choice of most impressive experience at important concerts, theatrical productions, special shows and other entertainment.
“SCB is confident that SCB FIRST will meet specific needs accurately to reach a high level of customer satisfaction while also creating stronger linkages to all segments. We expect that the new service will help double our customer base in this particular segment from the current level of about 200,000 - 300,000 customers. The Bank plans to add another 30 SCB FIRST Lounges by next year and another 100 in the near future at priority locations in Thailand," Mr. Yol said.