For the rapidly growing emerging affluent customer segment, Standard Chartered Bank is the first bank in India to introduce a differentiated offering called Preferred Banking. The Preferred World Credit Card is an important component of this proposition and aims to make the relationship with customers even more rewarding. The Card was launched in presence of Mr. Neeraj Swaroop, chief executive officer, India and South Asia, Standard Chartered Bank, Ms. Foo Mee Har, Global Head, Premium Banking, Standard Chartered Bank, Mr. T V Seshadri, vice president and country general manager, South Asia, MasterCard Worldwide and actress Kangana Ranaut.
Standard Chartered’s Preferred Banking is a powerful and complete solution that combines savings, borrowing, protection and investments delivered by well-trained relationship managers and enhanced with an attractive rewards programme for the emerging affluent[1] segment in India. The Preferred World Credit Card is an important component of this proposition and aims to make the relationship with customers even more rewarding. The card comes loaded with a host of features like accelerated rewards, petrol surcharge waiver, travel insurance benefits as well as powerful MasterCard Platform benefits like access to airport lounges in India, privileges while staying at Taj Hotels, Resorts and Palaces in India, Silver Tier membership of Kingfisher Airlines, discounted access to premium golf clubs and more.
Emerging affluent segment is a sizeable and rapidly growing customer segment at 18% per annum with needs that have been largely underserved and undifferentiated. A Preferred Banking customer, typically with funds under management of up to Rs. 500,000 or a mortgage of Rs 50 lakhs to Rs 1 Crore, is defined as young, upwardly mobile, techno literate professionals between 25 to 40 years of age, who are looking for recognition, convenience and rewards, and solutions. Standard Chartered is the first Bank in India to introduce a differentiated offering for the emerging affluent segment.
The Preferred World Credit Card is on the MasterCard platform which is provided by MasterCard Worldwide, a premier global payment solutions provider, and one of the significant partners of Standard Chartered Bank. MasterCard is committed to accelerating business through fueling economic connections that drive real value for its customers, associates, merchants and consumers. This premium and distinctive offering will also provide preferred access to an array of world-class services to the affluent class. MasterCard is committed to develop innovative products that help consumers to experience life’s passion in many ways. Through its family of brands, such as MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories and processes over 22 billion transactions each year.
About Standard Chartered Bank in India
Standard Chartered Bank is India’s largest international bank with 94 branches in 37 cities, a combined customer base of around 2 million retail customers and more than 1,500 corporate and institutional relationships. Key businesses comprise Consumer Banking, including deposits, loans, wealth management, private banking and SME banking; and Wholesale Banking, which includes cash transaction banking, treasury, corporate finance and custody services. For more information, visit www.standardchartered.co.in
