2022 Winner – E. Sun Taiwanese bank markets Covid-19 aid & helps the aged – Retail Banker International Asia Trailblazer Awards

 

 

E. Sun FHC bank in Taiwan won the Best Marketing Campaign of the Year at the virtual RBI APAC Awards 2022 and Best Advance in Responsible Finance for their respective campaigns promoting digital Covid-19 relief vouchers and help for the elderly.

The Taiwan government launched the NT$5,000 Quintuple Stimulus Voucher distributing US$168 to everyone in an effort to help recover and stimulate the nation’s domestic economy after the Covid-19 outbreak. Cash-like vouchers, valued at NT$5,000, were provided to all Taiwanese nationals. At the start of the year 18% of the vouchers were issued digitally at the request of citizens, with the rest in print. E. Sun however has played its part in encouraging digital take up, as the government wants, by explaining how citizens can easily link their voucher digitally to a credit card or mobile payment app and gain access that way.

Campaigns on its website, events, digital wallet notifications and electronic direct mail (EDM) efforts have been buttressed by external marketing on Facebook, YouTube and other social media and search channels. Its efforts support the digitalization of the bank’s customer base and gain new joiners as well. Almost one million have now linked their digital voucher to an account. Credit card applications alone went up 16% compared to the pre- activity period and card usage went up 20%.

An online self-help enquiry platform helped customers work out how to digitally link the voucher, explaining the approved spending transactions, food voucher use, and so forth, with easy infographics guiding users through the process and how to get help if it was needed. The marketing drive was supported by:

  • Early bird special offers: up to NT$1500 (US$50) bonus was available via the partnering nationwide 7-Eleven convenience store chain, which also let citizens charge up their digital voucher via an in-store machine if they so wished.
  • Digital link offer: up to NT$1250 (US$42) bonus for those that accessed the government’s Covid-19 relief voucher digitally, instead of relying on paper.
  • New applicants offer: up to NT$1250 bonus was available to those joining Sun bank digitally for the first time when accessing the voucher.

The elderly weren’t forgotten by E. Sun either in their efforts to help the government reshape the services it can offer its citizens. It was the only private bank, for example, to participate in the Third Urban Renewal Expo organized by the Interior Ministry in 2021 to promote knowledge about how unsafe and old buildings, many of them used by the aged, were to be replaced and upgraded as part of a regeneration of the built environment.

Trusts for Elder Care are also actively promoted by the bank to ensure that older people and their families and communities are thinking about how to fund retirements and how to access the help that is available to them.
Seminars on how to set up a Trust for Elder Care have been held by the bank. E. Sun has also established a talent development center to help employees obtain certification and knowledge about how to be a financial expert for the aged, helping them to ensure that their finances, inheritance plans and so on are fully in order.

E. Sun was also HC: Highly Commended at the Retail Banker International (RBI): Asia-Pacific (APAC) Trailblazer Awards 2022 in the following categories:
• Excellence in Omnichannel Integration; • Best Retirement Product & Service Initiative; Best Open Banking Initiative; and • Best Advance in Loyalty / Rewards Program.