DBS, the dynamic bank, secures awards for innovative card launch and high-impact CSR initiatives

DBS Hong Kong launched its disruptive Live Fresh Mastercard for the young adult market in March 2021 to wide acclaim, leveraging its successful “Portraits of Purpose” branding campaign to reinforce DBS Hong Kong as a purpose-driven organisation. Recently, it was recognised by MARKETING-INTERACTIVE with 15 awards for successfully launching the product to market, along with two awards for “Portraits of Purpose” – ultimately deeming DBS Hong Kong the “Best of Show” at the publication’s PR Awards 2021 Hong Kong ceremony.

The impressive results were underpinned by DBS Hong Kong’s clear strategic approach, as the bank identified market challenges and devised data-driven strategies to overcome them. With the dramatic rise in virtual banking and eWallet services, combined with COIVD-19 restrictions, DBS Hong Kong opted to move on from conventional products as well as the use of high-profile celebrities in campaigns. Appealing to the target audience - self-driven, young, bold individuals in tertiary education or those entering the workforce - the bank chose to highlight its next-generation card app “DBS Card+”, which uses the power of data and fintech to provide disruptive features, such as smart credit card management, digitised reward rebate customisation and intelligent loan services.

As a purpose-driven organisation, DBS Hong Kong tailored its product and card features to offer young adults maximum flexibility when it comes to card usage, including the ability to enjoy 10 free shopping instalment arrangements, 90-day interest-free repayments for all online spending, and a 5% cash rebate on the spending category of their choice. In line with the young and fresh theme, the bank also commissioned the iconoclastic designer Mr Sabotage to create a radical look for the Live Fresh card.With social distancing measures making in-person events difficult, DBS Hong Kong opted for a touchless experiential launch event at New Town Plaza in Shatin. Attendees were encouraged to use four interactive installations, based on the themes of an instagrammable photo wall, a game kiosk, online dining rewards and a sneaker hologram showcase. The sneaker installation allowed visitors to enter a lucky draw for a chance to win a pair of Nike shoes, also designed by Mr Sabotage in his signature dramatic style. The launch then moved online, and in mirroring the lifestyle of the target customers, offered parallel real-world and online engagement.The campaign gave a significant boost to new card acquisitions, which grew by over 110% year on year, as well as to average spend, which grew by a remarkable 237%. Predictably, digital take-up was strong, with 99% digital penetration and digital activity 33% higher than average. By providing fresh and innovative solutions for under-banked millennials, DBS Hong Kong exceeded its targets and significantly boosted its customer base.

Emily Ip, head of card and unsecured loans at DBS Hong Kong’s consumer banking group and wealth management said, “Our brand new DBS Live Fresh merchant partnerships align perfectly with the spirit of our targeted group – the youth, who always seek breakthroughs and strive for unique life experiences. Our marketing campaign and business strategies have successfully captured their attention, as proven by the outstanding acquisition and transaction results. We look forward to bringing more exciting offers to our card customers in the future.“

In addition to striving for commercial success, DBS Hong Kong is very much aware of its place in the communities it serves and has also been recognised for its social impact. The bank encourages employees, customers, partners and the public to think, feel and act for the good of their communities.

In 2020, DBS Hong Kong launched “Portraits of Purpose”, featuring stories of courage, perseverance, generosity and hope. These authentic narratives from employees, customers, partners and the community were transformed into engaging videos, web articles and social content, shared to inspire others to think, feel and act beyond their boundaries. All “Portraits of Purpose” stories can be found on the DBS website.
Keen to make an on-the-ground contribution, the bank also launched the “Care more” relief programme in co-operation with local charity partners. Through the initiative, over 20,000 food packs and 30,000 care packs were distributed to the needy. As part of its CSR initiative, #CaremoreWasteless, the bank encouraged sustainable consumption and food waste reduction in the community.

This article is sponsored by DBS Hong Kong.