April 15, 2007

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  NEWS: StanChart Relies on Superhero Power

   

  Malaysian credit card issuer Standard Chartered Bank Malaysia Bhd (StanChart) is counting on another promising double-digit increase in its credit card base for 2007, launched by the newest design of its Character credit card line. StanChart is counting on the popular appeal of the Marvel superhero Batman to give its line the turbo-power it needs to crush its competition.
  
  StanChart currently boasts a customer base of almost a half million consumers. Kuala Lumpur's national head of consumer banking, Shyam Srinivasan, stated in a press conference that the bank was hoping to issue some 40,000 credit cards on Batman's back. He stated that when the Character credit card line was initially launched, the company had conservatively hoped to issue between 30,000 and 40,000 cards. As the first launch easily surpassed the 40,000 card mark, StanChart is now hoping that Batman will garner them at least another 40,000. Shyam reported confidence that the uniqueness and appeal of the new design will generate "huge interest" from its target market of consumers when the new card was unveiled last week at a gala ceremony Friday.
  
  Shyam enforced that the bank desired to really play up its customer value proposition and offer industry-leading customer service, rather than focus on growing its credit card base. StanChart boasts a nearly 7% share of total credit cards issued locally. Other than the cachet of seeing Batman with each swipe, new customers of the credit card will enjoy a fee waiver of up to five years and up to 5,000 choice points upon activation of their card.
  
  
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