In Commonwealth Bank's half-year results released on February 10, 2021 it was shown that one-third of new credit card approvals were for their Neo card. For NAB, the StraightUp card is accounting for a similar percentage.
Bank of America's virtual assistant, Erica, has reached 7 million users since its nationwide rollout in June 2018 with 49% of Erica's users being millennials, followed by Generation X (20%), baby boomers and seniors (16%) and Generation Z (15%).
BBVA clients interestedin a personal loan who consulted the scoring andcomments of other users about the digital process of applying for a loan,accounted for 4.4 percentage points increase in customers deciding topurchase the loan.
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OUR PICK OF THE MOST DISTINCTIVE PROPOSITIONS of the QUARTER
1) Hang Seng Bank launch First Prestige Banking “Family+ Account” integrating personal, family finance and wealth management
Customers under their main account can add multiple accounts that are named for a specific family member or a specific need...[read here]
2) Earned targets physicians with full stack wealth management approach, inclusive of career advisory
Earned stands out as a benchmark for exemplifying how to develop a specialist product...[read here]
3) Merrill Wealth Management launch Advisor Matching Program
Offers a technological and engaging approach to matching consumers with financial advisors...[read here]
4) Macquarie Bank enables customers to set monthly spending allowances by category/sub-category
Customers can then see at a glance how they are tracking against their allocated budget for the category...[read here]
5) Mashreq launch new banking product called Groups for collectively higher interest rates on savings
For the first time in banking, Mashreq and Mashreq Neo customers can create groups "as easily as on WhatsApp or Telegram", invite up to 50 friends to join a 1-year fixed deposit, and collectively earn higher interest rates...[read here]