KUALA LUMPUR: CIMB Bank yesterday launched Savings Circle, the world’s first fully-integrated bank deposit campaign run over popular social media platform, Facebook (FB).
CIMB Group deputy chief executive officer/head of consumer banking, Renzo Viegas, said the Savings Circle was an industry’s first and a breakthrough in terms of integrating social media efforts into the business.
“The bank is one of the earliest adopters of social media among banks.
“Since the start of its social media presence in 2010, its pages had served over 1.3 million Facebook fans across Asean.
It is Asean’s most ‘linked’ bank,” he said at the launch of the campaign here yesterday.
Viegas said the Savings Circle application allowed the bank to truly differentiate itself and more importantly evolved its campaigns and products with customer in mind.
“Our customers today are so engaged on social media — we see immense potentials in this channel.
“We are taking deposit campaigns to a whole new level here.
“Savings circle is a novel idea that essentially evolves the way banks traditionally conduct deposit drives and we are able to share this with our customers now,” he said.
In a statement, CIMB Bank said the Savings Circle was a deposit campaign that leveraged on the viral nature of FB.
“Unlike a typical deposit campaign that is primarily individual-driven, this campaign uses strong crowd-sourcing elements to reward individuals and their friends for saving together,” it said.
It said participation in Savings Circle was open to all CIMB Bank and CIMB Islamic savings and current account holders from Nov 21, 2012 till March 10, 2013.
“To participate, customers are required to register on the Savings Circle application on CIMB Malaysia’s Facebook page.
“They then start or join a Circle.
“Once in a Circle, they will be able to invite friends to join and start earning points.
“Points will be earned as folows – one point for every incremental deposit of RM250, or for every cumulative RM50 spent on a CIMB Bank or CIMB Islamic debit card.
“A point is also earned for every friend invited who successfully registers,” it said. — Bernama