Driving Credit Card Strategies by Providers (Maybank, BBVA, Banorte, and Ziraat Bankasi), Competitor Overview and Future Implications

Abstract

This report discusses four credit card providers (Maybank, BBVA, Banorte, and Ziraat BankasI) who have each made significant gains in their respective market shares over the past 10 years. The strategies followed by each of these banks are analyzed and common trends identified, with the aim of providing an understanding of the types of products and marketing that contribute to a successful credit card strategy.

Following 2008, the global economy has experienced more than a decade of low interest rates as governments looked to stimulate their faltering economies and boost investment. Mortgage interest rates have been at historic lows, and broadly speaking, credit of all kinds became cheap compared to previous decades. The four banks covered in this report made great use of the low interest rate environment over 2010-20 and were able to grow their credit card market shares organically without the need for acquisitions. Their performances provide a roadmap for how banks and financial institutions can position their offerings, ecosystems, and platforms to grow their entire business (or specific elements of it).

Scope

• All the banks covered in this report have developed strong digital banking platforms that have made banking services more accessible to customers previously underbanked in rural or nonurban areas.
• The most successful marketing campaigns have been prolonged, lasting many years and reaching wide audiences on a regular basis by being associated with sporting events and entertainment.
• Links with payments and ecommerce providers have allowed banks to increase their shares of credit card markets by both increasing customer exposure to their products and offering rewards tied to partners' services (such as digital money to spend with a partnered ecommerce provider).

Reasons to Buy

• Determine the factors that are critical to a successful overall credit card strategy.
• Improve your marketing approach by analyzing some of the most successful strategies implemented over the last decade.
• Develop an understanding of the credit card products that are likely to offer the best value proposition to customers.