AFFINITY INSURANCE SUMMER 2016
BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club
Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club!
The most recent quarter has seen a diverse range of new affinity and corporate partnerships, especially in the fields of credit card and in- surance.
Notably, there has been a slew of new deals for airline co-branded credit cards including those of Bank of America with Allegiant, Syn- chrony Financial with Cathay Pacific, China Construction Bank with Hong Kong Airlines, and ICBC with China Southern Airlines. More- over, ICBC has also introduced a new co-branding program with the Shangri-La Hotel Group in China. Meanwhile, in the world of re- tailer cards, Vietnam has seen a significant launch in the shape of a card available from Japan-based department store chain Takashi- maya developed in conjunction with JCB and Vietcombank.
Turning to the insurance sector, a stand-out item is the news that AXA has established a global strategic partnership with China-based e-commerce giant Alibaba (and its Ant Financial Services affiliate) with the aim of exploring opportunities to distribute insurance through its extensive online network. This includes AliExpress (a global retail marketplace) plus Alibaba.com and 1688.com (both of which are wholesale marketplaces).
However, also worth mentioning are Generali’s tie with Progressive for telematics-enabled motor insurance, IAG with online media en- trepreneur Carrie Kwan for a joint venture targeting self-employed working mothers and the creation by Aviva of a 15-year bancassur- ance alliance with RBC in Canada.
Alan Leach, Director [email protected]
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Table of contents
Affinity Insurance IAG links with The Bond and PRODUCT WARRANTIES / Credit Co for new trade credit INSURANCE 8 ASSISTANCE 5 proposition 6 Hyundai and Real Garant team IMA renews health assistance part- Sompo Japan Nipponkoa devel- up for new car extended warranty nership with La Mutuelle Générale ops weather index insurance for product in Germany 8 5 agricultural federation in Myan- mar 6 Zurich subsidiary provides capac- Europ Assistance bolsters cancer ity to Towergate for boat, yacht insurance offering with supplemen- HEALTH INSURANCE 7 and pleasure craft insurance 8 tary medical assistance 5 Generali announces launch of TRAVEL INSURANCE 9 … and develops a comprehensive Vitality-branded insurance poli- assistance proposition for GSU 5 cies in France 7 Allianz Global Assistance wins new deal for card-related travel insur- AXA Assistance forges home assis- HOUSEHOLD INSURANCE 7 ance with Citibank in Australia… 9 tance alliance with MEHRWERK 5 Assurant wins mandate to offer … forms alliance with SNCF’s liability cover to provider of sin- Europe-wide train travel and hotel HomeServe rolls out new home gle-family rental homes 7 booking website … 9 assistance tie with Dee Valley Wa- ter 5 MOTOR INSURANCE 7 … and cements new relationships with Humboldt Reisen and nicko Collinson Group secures road as- Generali and Progressive initiate cruises in Germany 9 sistance partnership with specialist R&D agreement for telematics- intermediary 5 enabled motor insurance 7 Europ Assistance earns new travel insurance and assistance ties in Po- COMMERCIAL INSURANCE Brightside Group selects Covéa land 9 6 Insurance for new capacity agree- ment 8 ERV works with Aeroflot and Ho- Ageas wins mandate for new af- telbook.ru for integrated travel in- finity scheme with Norris & Fish Insurance plugs underwrit- surance in Russia… 9 Fisher 6 ing gap through new relationship with UK General 8 … and introduces app-based travel APRIL introduces professional cover with SituatiVe in Germany 9 indemnity insurance product for MACIF links with ride-sharing clients of Malakoff Médéric 6 service GoMore 8 AXA Assistance commences travel insurance initiative with Air Caraïbes 10 Euler Hermes establishes trade NICHE INSURANCE 8 credit insurance joint venture GENERAL 10 with CPIC 6 ERV begins distributing ticket in- surance through Ticket Regional… AXA rolls out global strategic 8 partnership with Alibaba… 10
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… and co-operates with the Fed- AUTOMOTIVE FINANCE 12 COMMERCIAL BANKING 13 eración Española de Familias Numerosas in Spain 10 ALD Automotive enters Argen- Banque Populaire and FNCUMA tine car leasing market through seal partnership focused on IAG creates joint venture tar- partnership with AutoCorp 12 French farmers 13 geted at working mothers 10 RCI Banque and BBVA tie for INTERNATIONAL PAY- Bancassurance automotive finance joint venture MENTS / REMITTANCES 13 in Colombia 12 HOUSEHOLD INSURANCE Banks join forces to use block- 10 Santander Consumer Bank links chain technology to improve effi- with Easy Car Pay for secure ve- ciency of international transfers Legal & General earns household hicle purchase payments 12 13 insurance deal with Skipton Building Society 10 CO-BRANDED CARDS 12 Barclays and CommBank work together for international pay- LIFE INSURANCE AND RE- Bank of America introduces new ments initiative 14 TIREMENT SAVINGS 10 airline co-branded car program with Allegiant 12 MOBILE / ONLINE PAY- Legal & General commences MENTS 14 five-year partnership with Synchrony Financial works with Santander for lifetime mortgages Cathay Pacific for co-branded MasterCard integrates ‘Send’ per- 10 Visa card 12 sonal payments service with Stripe’s ‘Connect’ … 14 Banco Sabadell divests life insur- China Construction Bank co- ance subsidiary in run-off 11 operates with Hong Kong Air- … expands reach in Singapore lines for new credit card program through relationships with local GENERAL 11 13 partners… 14
Aviva enters into 15-year bancas- ICBC pioneers co-branded … and collaborates with Ecobank surance alliance with RBC 11 business card scheme with to facilitate merchant payment ser- China Southern Airlines 13 vices in Nigeria 14 Affinity Banking 11 … and rolls out new co-branded PayPal expands relationships with MasterCard and Visa 14 AFFINITY LOANS 11 card program with Shangri-La Hotel Group 13 Visa complements its digital and Wells Fargo links with Amazon contactless payment options in to attract student customers 11 Brazil Prepaid, RioCard and Visa come together for new prepaid Brazil 15 AFFINITY SAVINGS 11 dual-function card 13 Apple Pay launches in multiple markets with Visa as its partner Credit.fr crowdfunding site gains network 15 distribution through Hello bank! 11
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Table of contents
Walmart enables usage of digital Upcoming Finaccord reports Fleet Insurance and Assistance in wallet across all US stores 15 the Netherlands The following titles are a selection Fleet Insurance and Assistance in MORTGAGES 16 of those that will be published by the UK Finaccord in the coming months. Global Insurance Broking: A Stra- The AA introduces enhanced For more information on our tegic Review of the World's Top mortgage products with Bank of unique areas of expertise, plus list- 150 Commercial Non-Life Insur- Ireland 16 ings of published reports and data- ance Brokers bases, please visit our website at Insurance and Assistance linked to PAYMENT CARD ISSUANCE www.finaccord.com or email us at Payment Cards and Bank Accounts AND ACCEPTANCE 16 [email protected]. in Austria Insurance and Assistance linked to Diners Club enters Kazakhstan Accident and Health Insurance in Payment Cards and Bank Accounts through new partnership with Belgium in the Czech Republic Kazkommertsbank 16 Accident and Health Insurance in Insurance and Assistance linked to Europe Payment Cards and Bank Accounts Discover works with Elo Global Accident and Health Insurance in in Europe Cards for international expansion Germany Insurance and Assistance linked to 16 Accident and Health Insurance in Payment Cards and Bank Accounts Ireland in Finland JCB extends both domestic and Accident and Health Insurance in Insurance and Assistance linked to regional reach through new part- Poland Payment Cards and Bank Accounts nerships 16 Accident and Health Insurance in in Italy Spain Insurance and Assistance linked to RETAILER CARDS AND FI- Accident and Health Insurance in Payment Cards and Bank Accounts NANCE 17 Switzerland in Romania Accident and Health Insurance in Insurance and Assistance linked to Alliance Data collaborates with the UK Payment Cards and Bank Accounts four retailers for private-label Bancassurance in the Americas: in Russia card programs 17 Product and Partner Strategies of Insurance and Assistance linked to the Region’s Top 120 Retail Bank- Payment Cards and Bank Accounts Synchrony Financial extends ing Groups in Turkey portfolio of retailer card and fi- Bancassurance in Europe: Product Travel Insurance and Assistance in nance relationships 17 and Partner Strategies of the Re- Argentina gion’s Top 150 Retail Banking Travel Insurance and Assistance in JCB and Vietcombank introduce Groups Chile new retailer cards with Takashi- Fleet Insurance and Assistance in Travel Insurance and Assistance in maya 17 Austria Colombia Fleet Insurance and Assistance in Travel Insurance and Assistance in GENERAL Europe Latin America Fleet Insurance and Assistance in Travel Insurance and Assistance in Virgin Money reinforces existing France Peru partnership with Manchester Fleet Insurance and Assistance in United 17 Italy
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Affinity Insurance News … and develops a comprehen- the UK with a water company, sive assistance proposition for namely Dee Valley Water. By ASSISTANCE GSU means of this partnership, around 250,000 households IMA renews health assistance Still in Poland, Europ Assis- across north-east Wales and partnership with La Mutuelle tance has also partnered with north-west Cheshire will be of- Générale insurance intermediary GSU to fered HomeServe's plumbing offer comprehensive assistance and draining assistance prod- In France, Inter Mutuelles As- packages to the latter’s custom- ucts. sistance (IMA) and La Mutuelle ers. Coverage under these pack- Générale have announced that ages consists of home assistance Collinson Group secures road they have renewed their health services that organise for spe- assistance partnership with assistance partnership for a fur- cialists to deal with faults, acci- specialist intermediary ther two years. This covers dents, burglaries and other home-based health assistance events, as well as medical assis- Through a new partnership with for almost 810,000 members of tance services within Poland and Auto Legal Protection Services La Mutuelle Générale including cash payments in the event of (ALPS), a specialist insurance support for major life events permanent disability or death. intermediary, Collinson Group such as birth and adoption, or has announced that it will pro- serious illness or death. AXA Assistance forges home vide road assistance to clients assistance alliance with served by its partner’s network Europ Assistance bolsters can- MEHRWERK of 700 brokers. Customers will cer insurance offering with gain from features such as up to supplementary medical assis- In Germany, AXA Assistance has GBP 1,500 of cover for engine tance partnered with MEHRWERK by damage incurred as a result of means of which German energy mis-fuelling, and cover worth up In Poland, Europ Assistance has companies working with this to GBP 50 for lost or stolen agreed to provide additional company, which is a specialised keys. ALPS has put in place a medical assistance services for marketing company focused on comprehensive implementation customers of Bank Zachodni promoting value-added services, plan and conducted a communi- WBK who have purchased can- will be able to offer their end us- cations program to explain the cer insurance from the bank’s ers home assistance policies un- benefits to its brokers. joint venture underwriter BZ derwritten by AXA Assistance. WBK-Aviva. This insurance AXA Assistance reportedly deals ______provides funds for the treatment with around 150,000 home emer- of a range of different types of gencies in Germany each year. cancer as well as consultation, counselling and other assistance HomeServe rolls out new services provided by Europ As- home assistance tie with Dee sistance. Valley Water
In the UK, and also in the field of home assistance, HomeServe has signed its 15 th partnership in
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COMMERCIAL INSURANCE number of partnerships since its specialist commercial insurance creation in July 2015. underwriter. Sold through bro- Ageas wins mandate for new ker partners, a new product de- affinity scheme with Norris & Euler Hermes establishes veloped by the two partners Fisher trade credit insurance joint spans whole-of-turnover, multi- venture with CPIC buyer and single-risk cover. In the UK, Ageas has secured a new commercial affinity pro- In China, Euler Hermes and Sompo Japan Nipponkoa de- gram providing specialist cover CPIC (China Pacific Property velops weather index insur- for local councils through insur- Insurance Company) have ance for agricultural federa- ance broker Norris & launched a trade credit insur- tion in Myanmar Fisher. Specifically, the scheme ance joint venture, CPIC Euler has been designed to cater for Hermes Insurance Sales Com- Meanwhile, in Myanmar, Sompo multiple activities and needs, pany (CPPIC Euler Hermes), Japan Nipponkoa has developed with officers’ and publishers’ which will be headquartered in a prototype of weather index liability offered as standard, with Shanghai and will have manag- insurance for the Myanmar Rice cover of up to GBP 10 million ers and existing members of Federation. This cover will help available in the case of public staff from both companies. to predict and mitigate farmers’ liability and with bespoke word- financial losses in the event of ings available for council-owned By means of the joint venture, unusual climate conditions and property. Euler Hermes is hoping to grow could play an important role in its position within the Chinese the on-going development of APRIL introduces profes- trade credit insurance market in Myanmar’s agricultural sector. sional indemnity insurance which liberalisation in 2013 product for clients of Mala- opened up significant opportu- Specifically, weather index insur- koff Médéric nities, especially for export trade ance is a product that pays a credit cover. CPIC is the third- fixed claim amount when In France, the APRIL group has largest property and casualty weather indexes such as those created a commercial non-life insurer in China, and has already tracking temperature, speed of insurance package for Malakoff engaged with Allianz (the owner wind, rainfall amount or sun- Médéric, a leading underwriter of Euler Hermes) for a variety shine duration meet certain pre- of health, protection and retire- of collaborative efforts including determined conditions. Sompo ment savings insurance. Until ones in health insurance, motor Japan has stated that this prod- now, Malakoff Médéric did not insurance, reinsurance and road- uct was created in response to offer any type of non-life insur- side assistance. the worsening impact of climate ance to its customers but change on the agricultural sec- APRIL group has filled this gap IAG links with The Bond and tors of developing countries, with a proposition that includes Credit Co for new trade credit which are particularly vulnerable professional indemnity cover proposition in this respect. tailored to the needs of its cus- tomers. This policy has been Also in the area of trade credit As part of the agreement, the created by APRIL's partnerships insurance, albeit this time in Myanmar Rice Federation will and key accounts division, Australia, insurer IAG has tied collaborate with authorities, which has formed or extended a with The Bond and Credit Co, a farmers and industry groups to
www.finaccord.com 6 Global Affinity Finance Club Affinity Insurance collate the necessary informa- ance policies. MOTOR INSURANCE tion for its partner to create its prototype. It will then collabo- ______Generali and Progressive ini- rate with Sompo Japan Nippon- tiate R&D agreement for koa to devise seminars and HOUSEHOLD INSURANCE telematics-enabled motor in- other educational sessions to surance improve farmers’ understanding Assurant wins mandate to and awareness of weather index offer liability cover to pro- Insurance groups Generali and insurance. vider of single-family rental Progressive have announced homes that they will collaborate in ______Europe and the US to develop a In the US, Assurant has been new generation of customised HEALTH INSURANCE selected to underwrite residents’ car telematics solutions. Specifi- personal liability insurance for cally, they intend to share their Generali announces launch of Invitation Homes, a provider of knowledge of telematics in order Vitality-branded insurance single-family home rentals with to benefit from synergies of policies in France a network of nearly 50,000 scope, scale and expertise in this properties in 14 major metro- sphere. This will include inno- Following the roll-out of its Vi- politan areas. Assurant’s con- vating in the area of behavioural tality wellness-based health in- tract with Invitation Homes is profiling systems which will re- surance concept in Germany in an exclusive one and residents ward safer drivers, helping them July 2016, Generali has an- will otherwise be required to to improve their driving through nounced that it will launch the arrange their insurance coverage personalised customer feedback. brand in France from the begin- independently. With Assurant, ning of 2017. Here, the Vitality over 120,000 residents occupy- Generali believes that it has a brand has been designed specifi- ing properties managed by Invi- leading position in the Euro- cally to be a voluntary part of tation Homes can obtain both pean market for telematics- health and protection insurance the liability cover required by enabled policies, having intro- contracts offered to corporate their lease plus personal con- duced a pay-how-you-drive clients, helping them to improve tents cover to protect their be- proposition via Italy-based di- employee health and well-being, longings. Payable via monthly rect insurance brand Genertel in which is known to have a posi- instalments, the insurance is 2011. It has more than 1 million tive impact on employee en- available from Assurant either such policies in force in Italy, gagement and productivity. Em- online or by phone, and will also including ones based around ployees who take steps to im- soon be made available via the distance driven as well as driving prove their health will qualify website of Invitation Homes. performance. In 2015, it also for discounts and rewards invested in MyDrive Solutions, a through program partners such ______leader in data analytics for the as Club Med, Decathlon, insurance sector. FNAC, Look Voyages and Sephora. Around the world, Generali estimates that close to 4 million individuals have ac- quired Vitality-branded insur-
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Brightside Group selects other disabilities. PRODUCT WARRANTIES / Covéa Insurance for new ca- INSURANCE pacity agreement MACIF links with ride- sharing service GoMore Hyundai and Real Garant In the UK, Brightside Group, a team up for new car extended broker, has signed a new agree- In France, mutual insurer MA- warranty product in Germany ment with Covéa Insurance that CIF has begun offering its cus- will increase capacity across its tomers access to the P2P ride- In Germany, Hyundai and Real motor book. Brightside has sharing services of GoMore, Garant have announced that stated that Covéa Insurance will one of the leaders in this field. they are working together to enable it to expand its motor To mark the launch of this, cus- offer a new car extended war- insurance offering and will help tomers registering their car with ranty product to supplement it to fill the gap left by Marker- GoMore receive a bonus of Hyundai’s standard five-year study, which previously under- EUR 50 while those using Go- factory warranty. The customer wrote motor policies worth ap- More are given EUR 20 when can select the duration of the proximately 25% of its total they book their first journey. In extended warranty to be valid business. Covéa Insurance will return, MACIF is automatically between 12 and 36 months, and not follow the rating system providing GoMore’s drivers vehicles up to five years old with used by Markerstudy but will with supplementary cover on a maximum mileage of 100,000 rate against its own criteria in- top of their regular insurance. kilometres can be covered under stead. the program. Moreover, de- ______pending on the model of the Fish Insurance plugs under- vehicle, an extension of this writing gap through new rela- NICHE INSURANCE warranty for up to ten years is tionship with UK General also possible. ERV begins distributing ticket Also in the UK, managing gen- insurance through Ticket Re- Zurich subsidiary provides eral agent UK General has gional… capacity to Towergate for agreed to support the motor boat, yacht and pleasure craft excess protection book of inter- In Germany and Luxembourg, insurance mediary Fish Insurance follow- ERV has started offering cancel- ing the collapse of Enterprise lation insurance for tickets In the UK, managing general Insurance, the underwriter pre- booked through Ticket Re- agent Towergate Underwriting viously used by the broker. UK gional. The insurance covers and Navigators & General General stated that it already has 100% of the ticket cost includ- (N&G), a subsidiary of Zurich, a number of other schemes with ing charges incurred during the have signed a strate- Fish which enabled it to acceler- booking process. Ticket Re- gic partnership that will see ate the on-boarding process. gional sells tickets for concerts N&G providing capacity and Fish Insurance has been a pro- plus sports and other events and expertise for Towergate’s boat, vider of specialist insurance in activities through over 600 out- yacht and pleasure craft insur- the UK for over 40 years and lets in Germany and Luxem- ance products. Specifically, the has a particular focus on cus- bourg. deal means that N&G will pro- tomers with pre-existing medical vide capacity for up to GBP 30 conditions, mobility issues and ______million in premiums over five
www.finaccord.com 8 Global Affinity Finance Club Affinity Insurance years. regional service), Germany, the has also begun providing stand- Netherlands, Luxembourg, alone travel insurance and assis- ______Spain and Switzerland. tance packages to Polish cus- tomers of Crédit Agricole. TRAVEL INSURANCE … and cements new relation- These packages, configured as ships with Humboldt Reisen three levels of cover, will be un- Allianz Global Assistance wins and nicko cruises in Germany derwritten by the bank’s own new deal for card-related travel captive underwriter, and will insurance with Citibank in Furthermore, Allianz Global include travel accident and Australia… Assistance has also announced health cover, baggage insurance two new partnerships in Ger- and assistance services adminis- In Australia, Allianz Global As- many. Specifically, customers of tered by Europ Assistance. sistance has announced that it tour operator Humboldt Reisen will offer complementary travel will be offered comprehensive ERV works with Aeroflot and insurance to credit card custom- travel insurance policies for do- Hotelbook.ru for integrated ers of Citibank under a new mestic, European and global travel insurance in Russia… agreement. This service also in- travel while those booking with cludes optional coverage for Stuttgart-based river cruise com- In Russia, ERV has announced pre-existing conditions through pany nicko cruises will benefit a new deal with hotel booking a screening process operated by from a variety of travel-related website Hotelbook.ru and Aero- Allianz Global Assistance. coverages. These policies will be flot that combines hotel and Other Australian banks working offered without deductibles and flight reservations plus travel with Allianz Global Assistance will include the travel assistance insurance in a single travel pack- in the same context include services of Allianz Global Assis- age, and that can be booked Bankwest, CommBank, HSBC tance in the event of emergen- through the Aeroflot website. and Rabobank. cies. The insurance underwritten by ERV that is incorporated into … forms alliance with SNCF’s Europ Assistance earns new these packages will include both Europe-wide train travel and travel insurance and assistance travel accident and health cover. hotel booking website … ties in Poland … and introduces app-based In France, Allianz Global Assis- In Poland, Europ Assistance has travel cover with SituatiVe in tance has launched a partnership agreed to work with AIG to Germany with Voyages-sncf.com, a provide travel assistance for pas- Meanwhile, with a focus this Europe-wide train travel and sengers of the Emirates airline time on Germany, ERV has also hotel booking website owned by departing Poland. The suite of partnered with insurance tech- the French state-owned rail op- products offered includes can- nology company SituatiVe to erator SNCF. Through this ar- cellation insurance, travel acci- release a new app-based insur- rangement, Allianz Global As- dent and health cover, personal ance that covers all delays relat- sistance is offering cancellation belongings cover and other op- ing to air travel. The coverage insurance and travel assistance tions, with both annual and sin- includes reimbursement of up to services for customers booking gle-trip policies available. EUR 1,500, and can be pur- rail tickets in Belgium, France chased online as well as through (with the exception of TER, a In addition, Europ Assistance SituatiVe’s app.
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AXA Assistance commences services affiliate of Alibaba) will vices to help them grow their travel insurance initiative with offer travel insurance products business activities. Air Caraïbes sourced from AXA for Chinese travellers venturing overseas. ______In the French Caribbean, AXA Assistance has started offering … and co-operates with the Bancassurance travel insurance to passengers of Federación Española de Fa- the Air Caraïbes airline. The milias Numerosas in Spain HOUSEHOLD INSURANCE policy in question covers inter- ruption, repatriation, and theft, AXA has also signed a collabo- Legal & General earns house- loss or damage of luggage. ration agreement in Spain, this hold insurance deal with
time with the Federación Skipton Building Society ______Española de Familias Numero- sas (a lifestyle organisation fo- GENERAL In the UK, Legal & General has cused on large families) by begun working with the Skipton means of which families that are AXA rolls out global strategic Building Society for household members of this association re- partnership with Alibaba… insurance, replacing Arthur J. ceive special offers for home Gallagher, the previous incum- and health insurance. Specifi- AXA and e-commerce group bent. Specifically, customers of cally, for home insurance, they the building society will be able Alibaba have agreed to engage can obtain a discount of 20% on in a global strategic partnership to purchase buildings and con- the price of a policy, while tents insurance underwritten by to explore opportunities to dis- health insurance will be easier to tribute AXA’s insurance prod- Legal & General online, by access for them and will poten- phone or at branches. ucts and services through tially include a discount too. Alibaba’s extensive online net- ______work. In particular, the first IAG creates joint venture tar- phase of the proposed collabo- geted at working mothers ration will focus on three areas. LIFE INSURANCE AND RE- One of these is AliExpress, a TIREMENT SAVINGS In Australia, IAG (via its As- global retail marketplace tar- sureMe subsidiary focused on geted at consumers worldwide, Legal & General commences niche customer groups) has set for which AXA will provide in- five-year partnership with up Mums & Co as a joint ven- surance products such as ex- Santander for lifetime mort- ture with Carrie Kwan, the tended warranties for repairs gages founder of lifestyle website and / or damaged goods, plus Daily Addict. Mums & Co aims enhanced online payment pro- Also in the UK, Legal & Gen- to foster a connected and em- tection. Another is Alibaba’s eral has begun working with powered community of self- wholesale marketplaces Santander by means of a five- employed working mothers in (Alibaba.com, 1688.com), for year agreement to underwrite the country. Benefits for mem- which AXA will provide insur- lifetime mortgages (also known bers available through the ven- ance products to small and me- as equity release plans) for the ture include business insurance dium-sized businesses trading latter’s existing customers who for home offices plus other on these platforms. Finally, Ant are reaching the end of their business support and advice ser- Financial Services (a financial mortgage term, and who may
www.finaccord.com 10 Global Affinity Finance Club Affinity Banking have a shortfall in repaying the channels. enrolling in its automatic capital owed on their interest- monthly loan repayment plan only mortgage. The service will ______plus an interest rate discount also be available to existing derived from any of its global Santander mortgage customers GENERAL promotions. At the time of the who are thinking about releasing agreement, students were able to equity from their homes to help Aviva enters into 15-year ban- sign up for a free six-month trial fund their retirement. Legal & cassurance alliance with RBC of the ‘Prime’ service after General has stated that this which they could continue at an agreement is aimed at bringing In Canada, RBC has signed a annual cost of USD 49, which is greater certainty to borrowers 15-year strategic agreement with half of the normal price for it. with endowment policy short- Aviva by means of which Aviva falls, and to those who would will purchase the bank’s RBC ______rather not sell and downsize. General Insurance subsidiary, Legal & General entered this which focuses mainly on under- AFFINITY SAVINGS market in 2015 and states that it writing motor and household has concluded over GBP 400 insurance, for a consideration of Credit.fr crowdfunding site million of lifetime mortgage CAD 582 million. As a part of gains distribution through lending contracts since then. the transaction, around 575 em- Hello bank! ployees of RBC will transfer to Banco Sabadell divests life Aviva. In France, Credit.fr, a crowd- insurance subsidiary in run- funding site for SMEs that off ______launched in March 2015, has teamed up with Hello bank!, a In Spain, Banco Sabadell has Affinity Banking mobile-only banking subsidiary reached an agreement to sell of BNP Paribas. By means of Mediterráneo Vida, a life insur- this link, customers of Hello AFFINITY LOANS ance subsidiary that has been in bank! can invest money with a run-off since 2014, to a consor- selection of companies looking Wells Fargo links with Ama- tium of funds led by Ember, a for funding. Since its launch, zon to attract student cus- long-term investor that special- Credit.fr has financed 91 pro- tomers ises in the acquisition of such jects with loans worth EUR 4.2 businesses. Mediterráneo Vida million gathered from over was acquired indirectly by the In the US, Wells Fargo Educa- 6,300 private lenders. Interest bank in 2011 as a result of its tion Financial Services, which rates can reach 8.7% and, on takeover of Caja Mediterráneo claims to be the largest private- average, loans (typically with a and had funds under manage- sector lender to students in the value of about EUR 60,000) are ment at the time of the transac- US, has announced an interest funded in 11 days. tion of EUR 1.9 billion. How- rate discount for students who have enrolled in Amazon’s ever, Banco Sabadell will con- ______tinue to manage its relationship ‘Prime’ service. The 0.5% inter- est rate discount being offered with customers of Mediterráneo Vida through its branch net- by the bank to these students can also be combined with a work and other distribution 0.25% interest rate reduction for
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AUTOMOTIVE FINANCE holds 51% of the equity of the CO-BRANDED CARDS new company, known as RCI ALD Automotive enters Ar- Colombia, with the remaining Bank of America introduces gentine car leasing market 49% held by BBVA. Over new airline co-branded car through partnership with 260,000 new cars were sold in program with Allegiant AutoCorp Colombia in 2015 and Renault is one of the leading brands in the In the US, Bank of America has ALD Automotive and its North market. announced the launch of a new American partner Wheels have airline co-branded card program signed a partnership agreement Santander Consumer Bank with Allegiant and MasterCard. with AutoCorp, an Argentina- links with Easy Car Pay for In fact, this is Allegiant’s first based car leasing company, secure vehicle purchase pay- ever credit card program and making it the first international ments includes a loyalty element that fleet management company to will allow cardholders to earn have a presence in the country. In Germany, Santander Con- three points per USD 1 of ex- AutoCorp delivers full-service sumer Bank has begun co- penditure on purchases with leasing to a number of multina- operating with Easy Car Pay, a Allegiant itself for flights, hotel tional firms in Argentina in spite company that specialises in fa- stays or car rentals, two points of the fact that leasing and long- cilitating secure payments re- per USD 1 of spend on qualify- term renting remain under- lated to vehicle purchase, either ing dining purchases, and one developed there for a variety of between individual customers or point per USD 1 of spend on all reasons related to the local between dealers and individual other purchases. economy, including high interest customers. This obviates the rates. However, ALD Automo- need for car buyers to resort to Synchrony Financial works tive and Wheels believe that re- less safe payment means which with Cathay Pacific for co- cent political changes will help might include organising a bank branded Visa card to bring about a more favour- transfer before taking posses- able landscape for these activi- sion of the vehicle or even pick- Also in the US, Synchrony Fi- ties. Argentina is the third- ing up cash at a bank branch nancial has begun working with largest market in Latin America and physically carrying the Cathay Pacific for a co-branded behind Brazil and Mexico where money to the car seller. More- Visa credit program for the air- ALD Automotive has been op- over, by means of Easy Car Pay, line’s US-based passengers. erating for more than ten years. car sellers can be sure that they Planned for launch in the first will receive promptly the quarter of 2017, the Cathay Pa- RCI Banque and BBVA tie amount corresponding to the cific Visa credit card will offer for automotive finance joint agreed purchase price without a rewards and benefits for US venture in Colombia need to deal with money laun- travellers on flights to the air- dering processes or to check line’s 173 destinations across 42 In Colombia, RCI Banque, the that the cash is genuine. countries. Cardholders will also captive finance arm of Renault, benefit from special travel pack- has established a joint venture ______ages including favourable fares with BBVA to provide vehicle for multi-destination trips. finance and other services to customers there. RCI Banque
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China Construction Bank co- from discounts on the hotel COMMERCIAL BANKING operates with Hong Kong chain’s room rates and meals at Airlines for new credit card its restaurants, plus a waiving of Banque Populaire and program the annual card fee in the first FNCUMA seal partnership year. Other advantages include focused on French farmers Also in the field of airline co- travel insurance and assistance, branded cards, albeit this time in an exclusive airport shuttle ser- FNCUMA (the Fédération Na- Hong Kong, China Construc- vice and free overseas wifi. tionale des Coopératives d'Utili- tion Bank and Hong Kong Air- sation de Matériel Agricole) and lines have jointly issued the Brazil Prepaid, RioCard and Banque Populaire have signed Hong Kong Airlines ‘Fly Away’ Visa come together for new an agreement that will result in credit card as a new co-branded prepaid dual-function card the provision of banking prod- product offering advantages to ucts on preferential terms to the customers of both entities. Meanwhile, in Brazil, Visa has total of around 264,000 farmers entered into a partnership with that belong to co-operatives that ICBC pioneers co-branded Brazil Prepaid (BPP) and Rio- are members of the federation business card scheme with Card (an issuer of cards related (making up around a half of all China Southern Airlines to the public transport system in farmers in France). These will Rio de Janeiro) to launch a new include cash management tools, In a related agreement in prepaid dual-function card. The favourable financing conditions, China, ICBC has started work- ‘RioCard Duo 2016’ allows cus- equipment finance and online ing with China Southern Air- tomers to make purchases at payment solutions. Benefits will lines to issue what the partners retailers that accept Visa and to also be available for farm em- claim to be the first airline co- pay for a variety of public trans- ployees in the form of employee branded card scheme in the portation services in the Rio de savings and collective retirement country focused specifically on Janeiro area including boats, savings plans plus preferential business customers. Cardhold- buses, cable cars and trains conditions for bank accounts. ers are entitled to a number of (both over-ground and under- benefits including exclusive ground). The card is available INTERNATIONAL PAY- transfer services to the airport, both online and through Rio- MENTS / REMITTANCES free overnight accommoda- Card stores, currency exchange tion, executive lounge access shops and hotels. Visa states Banks join forces to use and exemption from secon- that this is the first card in Latin blockchain technology to im- dary security checks when ar- America with such a range of prove efficiency of interna- riving in China. features. RioCard processes tional transfers around 7 million free and paid … and rolls out new co- transactions each day in the At a global level, a number of branded card program with public transportation system of banks – including Bank of Shangri-La Hotel Group Rio de Janeiro and is used by 3.5 America, Merrill Lynch, RBC, million individuals. Santander, Standard Chartered, ICBC has also commenced a UniCredit and Westpac – have partnership for co-branded ______launched a committee (titled the cards with the Shangri-La Hotel Global Payments Steering Group. Cardholders will benefit Group) to further develop in-
www.finaccord.com 13 Global Affinity Finance Club Affinity Banking stant international transfers be- merchants and other organisa- announced as the first banks to tween individual customers and tions to consumers) on the support the service, with UOB companies using blockchain Stripe online payment platform. to follow. MasterCard has re- (distributed ledger) technology The service is available for those ported that there are more than developed by US-based start-up selling services through Stripe’s 30,000 contactless payments Ripple. It is hoped that use of ‘Connect’ facility, which is de- readers in Singapore, including this technology will radically signed to help online market- those at the Cold Storage and reduce the time and cost of places and platforms pay their Fairprice supermarket chains. many financial transactions in- users. Entities using ‘Connect’ cluding international transfers. include iCracked, Instacart and … and collaborates with Eco- Postmates as well as Care.com, bank to facilitate merchant Barclays and CommBank goPanache and ride-sharing pro- payment services in Nigeria work together for interna- vider Lyft. tional payments initiative Meanwhile, working in conjunc- … expands reach in Singapore tion with Ecobank Group, Meanwhile, from the final quar- through relationships with lo- MasterCard has launched mo- ter of 2016, retail customers of cal partners… bile-based merchant payment UK-based Barclays and Austra- services in Nigeria as a new ele- lia-based CommBank will be Courtesy of a new agreement ment of its MasterPass online able to move money between with AXS, the largest transac- payment service. The aim is to the two countries with just a tional terminal network in Sin- encourage micro-enterprises mobile number. In what they gapore, MasterCard’s customers plus SMEs in Nigeria to accept believe to be the first such deal in the country can now pay their digital payments from consum- involving these countries, the bills using its online payment ers. The two partners have two banks have connected their service MasterPass. The deal stated that this proposition is a respective payment apps to pro- means that MasterPass will be major move, given that such vide a secure and simple process available through both the enterprises make up 96% of Ni- for individuals in the UK to browser and mobile payment gerian businesses, and that 98% make payments to recipients in platforms provided by AXS and of them still deal only in cash. Australia and vice versa. it follows an earlier link between Ecobank, which operates in 36 MasterCard and Singapore- African countries, has further ______based taxi booking app Com- announced that it plans to ex- fortDelgro, which also inte- tend the MasterPass service to MOBILE / ONLINE PAY- grated MasterPass as a means of 34 other countries in the region. MENTS payment. PayPal expands relationships MasterCard integrates ‘Send’ Moreover, MasterCard has also with MasterCard and Visa personal payments service with started working with Android Stripe’s ‘Connect’... Pay in Singapore, thereby allow- Online payments provider Pay- ing its cardholders to pay in Pal has announced an expansion MasterCard has announced the shops and through apps using of its long-standing partnerships launch of its MasterCard ‘Send’ Android devices. DBS with MasterCard and Visa that is personal payments service (including POSB), OCBC and aimed at offering consumers (which facilitates payments from Standard Chartered have been greater flexibility in managing
www.finaccord.com 14 Global Affinity Finance Club Affinity Banking and moving their money. The Seguro and Santander plus Bra- spondents said that they were agreement with MasterCard en- zil Prepaid can now use Sam- likely to experiment with new ables both consumers and small sung mobile phones to make payment methods and 78% businesses to instantly cash out payments. Moreover, it has also planned to use smartphones for funds held in their PayPal ac- signed an agreement that will everyday payments. counts to their MasterCard debit leverage the digital capabilities cards. Customers will be able to of Brazil Prepaid and PT Likewise, in France, the Banque select MasterCard as the default (Oberthur Technologies) to en- Populaire and Caisse d’Epargne payment method. MasterPass able contactless payments using networks belonging to Groupe will also be added as a payment the new ‘Bellamy’ watch pro- BPCE now offer the Apple Pay option for merchants that proc- duced by Swatch. The initiative service to their customers, ess payments via Braintree, a works in a similar fashion to thereby meaning that they are subsidiary of PayPal. prepaid cards, whereby users able to make purchases every- charge the account through Bra- where using their Visa bank Likewise, PayPal will also enable zil Prepaid and are then able to cards wherever contactless pay- customers to choose Visa as make payments using the watch. ments are accepted. In particu- their default payment method as lar, each transaction is author- it will join Visa’s digital enable- Visa reports that there are ised with a one-time unique dy- ment program, which is a com- around 1 million terminals ac- namic security code. Groupe mercial framework for the card cepting contactless payments in BPCE is the first banking group brand’s partners to access its Brazil. The ‘Bellamy’ watch has in France to offer Apple Pay to token services and other digital been launched already in China its customers who continue to capabilities in the US. It is in- and Switzerland but Brazil is the receive the various rewards and tended that this will enhance first country in the Americas benefits offered through its transaction security and expand where it has been introduced. credit and debit cards. acceptance for PayPal’s digital wallet to all physical retail loca- Apple Pay launches in multi- Walmart enables usage of tions where Visa contactless ple markets with Visa as its digital wallet across all US transactions are enabled. Con- partner network stores sistent with the digital enable- ment program, issuers will be Meanwhile, Apple remains very In the US, Walmart has dis- able to choose whether to par- active in expanding its digital closed that shoppers at its net- ticipate and retailers can expect payment services at a worldwide work of around 4,600 stores will to pay fees that are consistent level, in particular through its now be able to make purchases with other contactless transac- alliance with Visa. For example, entirely through their smart- tions that they accept. it has introduced the Apple Pay phones. Available via the Wal- service to Hong Kong, allowing mart app, Walmart Pay works Visa complements its digital customers to make contactless with any iOS (Apple) or An- and contactless payment op- payments at physical retail out- droid device, in any checkout tions in Brazil lets, and through apps on Apple lane, and without the need to devices linked to their Visa produce any physical payment In Brazil, Visa has announced cards. Visa has reported that card. that customers with cards issued according to a study of consum- by Banco do Brasil, Porto ers in Hong Kong, 77% of re-
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MORTGAGES and PULSE as well as Diners JCB extends both domestic Club. Moreover, the deal will and regional reach through The AA introduces enhanced enable acceptance at over new partnerships mortgage products with Bank 42,000 point-of-sale terminals of Ireland and over 2,250 ATM locations Japan-based payments brand across the country. Kazkom- JCB continues to grow its global In the UK, the AA has an- mertsbank will also become the footprint through several new nounced that it will offer mort- exclusive issuer of Diners Club agreements in Bhutan, Myanmar gage products to its customers cards in Kazakhstan and is ex- and Russia. Furthermore, it has through its existing partnership pected to begin issuing cards also started offering Apple Pay with the Bank of Ireland. The later in 2016. to its customers in Japan in or- new products include two-year der to meet the growing needs to five-year fixed rate mortgages Discover works with Elo of its customers for mobile pay- and incorporate home emer- Global Cards for international ments. gency and repair cover, as well expansion as central heating emergency An agreement with the Bank of cover. These new arrangements Moreover, Discover has also Bhutan means that JCB cards represent a further development announced that Elo Global will now be accepted at more in the AA's partnership with the Cards, which are issued in Brazil than 480 locations and 90% of Bank of Ireland, which began in by Banco do Brasil, Bradesco point-of-sale terminals and 2015 and which comprises and Caixa Econômica Federal, ATM machines in Bhutan. The credit cards, personal loans and can now be used for interna- move aims to take advantage of savings accounts, including tional purchases and cash access increased tourist access to Bhu- ISAs. outside of the country by means tan which is a popular destina- of its global network. In fact, tion for people in the Asia- ______Elo Global Cards was created to Pacific region. Indeed, the Tour- meet the demand of high- ism Council of Bhutan has re- PAYMENT CARD ISSU- spending travellers and online ported that visitor figures have ANCE AND ACCEPTANCE shoppers. According to Dis- tripled in recent years to around cover, Brazilian consumers 150,000. Diners Club enters Kazakh- spent USD 17.3 billion in 2015 stan through new partnership when travelling outside of their In Myanmar, JCB has also with Kazkommertsbank home country, with the US launched debit and credit cards ranking as one of their preferred in partnership with Ayeyarwady Diners Club has expanded its destinations, and cross-border Bank. The ‘Universal AYA global reach by sealing its first online expenditure by Brazilians MPU-JCB’ card can be used partnership in Kazakhstan with reached USD 18 billion in 2015, across the bank’s network in Kazkommertsbank. Specifically, with US-based companies ac- Myanmar as well as JCB’s inter- the bank will be the exclusive counting for around 72% of national merchant network acquirer in Kazakhstan for Din- those purchases. comprising over 31 million loca- ers Club and other cards issued tions globally. Cardholders can on the global network of Dis- also enjoy benefits arranged by cover Financial Services, which JCB such as airport lounge us- comprises Discover Network age and special services at ho-
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tels. Myanmar is the fourth based in New York City, The This offers a health, wellness country in south-east Asia Children’s Place is one of the and personal care credit card where JCB cards are issued, largest children’s pure-play spe- accepted at a national network along with Laos, Thailand and cialty retailers in North America, of over 195,000 healthcare pro- Vietnam. Ulta Beauty is one of the largest viders and health-focused retail- beauty retailers in the US, and ers. The four dental organisa- Finally, JCB has reached an Williams-Sonoma is an e- tions in question are Dental analogous deal in Russia to issue commerce retailer specialising in Care Alliance, Dentures & Den- cards with the Central Bank of home and kitchen furnishings. tal Services, Mortenson Dental Russia’s national system of pay- Partners and Sage Dental. To- ment cards (NSPK). Specifically, This will be the first private- gether, the four organisations individuals with co-branded Mir label credit card for Century 21, have clinical operations across / JCB cards will be able to use while both The Children’s Place more than 17 states. them not only across the Mir and Williams-Sonoma have merchant network in Russia but signed over their co-branded Furthermore, analogous new also JCB’s global network. Mir card portfolios to Alliance Data agreements have been reached is the national payment brand as part of their deals. All four with Nautilus, a developer of operated by NSPK and was es- programs are aimed at accelerat- home fitness equipment brands, tablished in 2015 to create a na- ing the rewards earned by cus- and The Container Store, a re- tionwide payment system infra- tomers in order to increase tailer of storage products. structure. The first issuer of Mir brand loyalty. To acquire new / JCB cards is Gazprombank card members, the retailers will Synchrony Financial has also which began issuing them in seek to capitalise on a number renewed multi-year consumer August 2016 and it is anticipated of the capabilities of Alliance finance agreements with the fol- that other banks will follow in Data, including in-store kiosks, lowing entities: the American the near future. credit marketing tools, tablet Society of Plastic Surgery; Ash- technology and integrated web- ley HomeStores, a home fur- ______based offerings. nishings retailer; Rheem Manu- facturing, a heating products RETAILER CARDS AND FI- Synchrony Financial extends manufacturer; and Vision NANCE portfolio of retailer card and Group, a laser eye surgery pro- finance relationships vider. The latter agreement with Alliance Data collaborates has also been set up through with four retailers for private- Also in the US, Synchrony Fi- Synchrony Financial’s label card programs nancial has continued to expand CareCredit division. its operations through consumer In the US, Alliance Data has finance programs with a number JCB and Vietcombank intro- signed long-term agreements to of organisations across different duce new retailer cards with provide private-label credit card sectors. Takashimaya services for Century 21 Depart- ment Store, The Children’s First, it has announced a multi- In Vietnam, JCB has arrived at Place, Ulta Beauty and Williams- year agreement with four dental an agreement with Vietcombank Sonoma. Century 21 is a family- organisations through its health- to issue co-branded retailer owned retail establishment care finance arm, CareCredit. cards in conjunction with the
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Takashimaya department store Finaccord country reports Consumer Automotive Finan- chain (which is headquartered in cial Services in Russia Japan). Vietcombank has had an Finaccord publishes a variety of Creditor Metrics: Consumer Ap- alliance with JCB in the mer- reports about the following coun- proaches to Loan and Bill Pro- chant acquiring business since tries: Australia; Austria; Belgium; tection Insurance in the USA 1991 and has been issuing JCB Brazil; Canada; Chile; China; Extended Warranties for New cards since 2012. Customers Colombia; France; Germany; and Used Cars in Europe with the new cards can accumu- India; Indonesia; Italy; Japan; GAP Insurance for New and late points with purchases at Malaysia; Mexico; Netherlands; Used Cars in Europe shops and restaurants in Taka- Peru; Poland; Romania; Russia; Global Airlines: Strategies in shimaya’s flagship store in Ho South Africa; Spain; Switzer- Travel Insurance and Co- Chi Minh City, as well as at all land; Turkey; the UK; and the Branded Cards of its other outlets (in Shanghai US. Global Life Insurance and Re- and Singapore as well as multi- tirement Savings: Size, Segmen- ple locations in Japan). Alternatively, to see our full list tation and Forecast for the of reports organised by country, Worldwide Market ______with more than 60 countries Global Mobile Phone Insurance covered in total, please visit the and Extended Warranties: A GENERAL search-by-country page of our Worldwide Review website at www.finaccord.com/ Home Assistance Metrics: Con- Virgin Money reinforces ex- search-by-country.htm. sumer Approaches to Home isting partnership with Man- Emergency Insurance in Se- chester United Finaccord’s latest published lected Global Markets reports and data products in- Insurance and Assistance linked In the UK, Virgin Money has clude: to Payment Cards and Bank Ac- launched a savings account in counts in Ireland partnership with Manchester Aggregation Metrics: Consumer Insurance and Assistance linked United. Customers opening the Approaches to Online Insur- to Payment Cards and Bank Ac- ‘Red Devil Saver’ account will ance Comparison Sites in Aus- counts in Sweden automatically benefit from the tralia Lending Metrics: Consumer Ap- ‘United Rewards’ scheme which Aggregation Metrics: Consumer proaches to Credit Products and each month offers customers Approaches to Online Insur- Distribution in Selected Global the chance to win a range of ance Comparison Sites in Can- Markets prizes including match-day tick- ada Manufacturer-Branded and ets and signed replica shirts. Si- Aggregation Metrics: Consumer Dealer-Intermediated Motor multaneously, Virgin Money has Approaches to Online Insur- Insurance and Road Assistance also announced a new design for ance Comparison Sites in Se- in Europe its affinity credit card with Man- lected Global Markets Prepaid Service Contracts for chester United. The new design, Commercial Non-Life Insurance New and Used Cars in Europe which features the club’s crest, Brokers in India Professional Indemnity Insur- is available across all products in Commercial Non-Life Insurance ance for Architects and Engi- its credit card range. Brokers in Mexico neers: A Worldwide Review Commercial Non-Life Insurance Travel Insurance and Assistance Brokers in Norway in the Asia-Pacific Region
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Organisations in this issue
Aeroflot, 9 CPIC, 6 MasterCard, 14 Ageas, 6 Credit,.fr, 11 MEHRWERK, 5 AIG, 9 Crédit Agricole, 9 Mortenson Dental Partners, 17 Air Caraïbes, 10 DBS, 14 Myanmar Rice Federation, 6 ALD Automotive, 12 Decathlon, 7 Navigators & General, 8 Allegiant, 12 Dee Valley Water, 5 nicko cruises, 9 Alibaba, 10 Dental Care Alliance, 17 Norris & Fisher, 6 Alliance Data, 17 Dentures & Dental Services, 17 OCBC, 14 Allianz Global Assistance, 9 Diners Club, 16 PayPal, 14 Amazon, 11 Discover, 16 Porto Seguro, 15 American Society of Plastic Surgery, 17 Easy Car Pay, 12 Postmates, 14 Apple, 15 Ecobank, 14 Progressive, 7 APRIL, 6 Elo Global Cards, 16 PT, 15 Arthur J. Gallagher, 10 Emirates, 9 Rabobank, 9 Ashley Homestores, 17 ERV, 8, 9 RBC, 11, 13 Assurant, 7 Euler Hermes, 6 RCI Banque, 12 AutoCorp, 12 Europ Assistance, 5, 9 Real Garant, 8 Auto Legal Protection Services (ALPS), Fairprice, 14 Renault, 12 5 Federación Española de Familias Nu- Rheem Manufacturing, 17 Aviva, 11 merosas, 10 RioCard, 13 AXA, 10 Fish Insurance, 8 Ripple, 14 AXA Assistance, 5, 10 FNAC, 7 Sage Dental, 17 Ayeyarwady Bank, 16 FNCUMA, 13 Santander, 10, 13, 15 Banco do Brazil, 15 Gazprombank, 17 Santander Consumer Bank, 12 Banco Sabadell, 11 Generali, 7 Sephora, 7 Bank of America, 12, 13 Genertel, 7 Shangri-La Hotel Group, 13 Bank of Bhutan, 16 GoMore., 8 SituatiVe, 9 Bank of Ireland, 16 goPanache, 14 Skipton Building Society, 10 Bank Zachodni WBK, 5 Groupe BPCE, 15 SNCF, 9 Bankwest, 9 GSU, 5 Sompo Japan Nipponkoa, 6 Banque Populaire, 13 HomeServe, 5 Standard Chartered, 13, 14 Barclays, 14 Hong Kong Airlines, 13 Swatch, 15 BBVA, 12 Hotelbook.ru, 9 Synchrony Financial, 12, 17 BNP Paribas, 11 HSBC, 9 The AA, 16 Bradesco, 16 Humboldt Reisen, 9 Ticket Regional, 8 Brazil PrePaid, 13, 15 Hyundai, 8 The Bond and Credit Co, 6 Brightside Group, 8 IAG, 6, 10 The Children’s Place, 17 Caixa Econômica Federal, 16 ICBC, 13 Towergate, 8 Care.com, 14 iCracked, 14 UK General, 8 Cathay Pacific, 12 IMA, 5 Ulta Beauty, 17 Central Bank of Russia, 17 Instacart, 14 UniCredit, 13 Century 21 Department Store, 17 Invitation Homes, 7 Vietcombank, 17 China Construction Bank, 13 JCB, 16, 17 Virgin Money, 18 China Southern Airlines, 13 Kazkommertsbank, 16 Visa, 12, 13, 14, 15 Citibank, 9 La Mutuelle Générale, 5 Vision Group, 17 Club Med, 7 Legal & General, 10 Walmart, 15 Cold Storage, 14 Look Voyages, 7 Wells Fargo, 11 Collinson Group, 5 Lyft, 14 Westpac, 13 Comfort DelGro, 14 MACIF, 8 Williams Sonoma, 17 CommBank, 9, 14 Malakoff Médéric, 6 Zurich, 8 Covéa Insurance, 8 Manchester United, 18
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About GAFC About Finaccord Does your organisation have The Global Affinity Finance Club is Finaccord is a market research, news about its affinity or Finaccord’s quarterly newsletter publishing and consulting com- partnership marketing rela- about affinity financial services pany specialising in financial ser- tionships that we missed in vices. We provide our clients with worldwide. Through this, Finac- this newsletter? To produce insight with a particular focus on cord publishes high-level informa- it, we systematically research tion about key strategic develop- marketing and distribution strate- over 350 major financial ser- ments in affinity and partnership gies, including affinity and partner- vices institutions from marketing of financial services ship marketing. around the world, segmented be- around the world each quar- tween affinity insurance news, ban- Our areas of expertise include: af- ter. However, if you would cassurance news and affinity bank- finity and partnership marketing; also like us to include your ing news. automotive financial services; ban- company in this research, cassurance; commercial non-life please send an e-mail to This service differs from that pro- insurance brokers; consumer intel- [email protected] and we vided by other research companies ligence; creditor insurance; distri- will ensure that it is tracked because its focus is genuinely bution channels; energy and power in future quarters. global, often translating news that insurance; extended warranties; only appears in languages other home emergency insurance and To access the archive of news than English. In addition, it con- assistance; insurance and assistance from the Global Affinity Fi- linked to payment cards and bank centrates exclusively on affinity nance Club please visit accounts; mobile gadget and phone and partnership marketing strategy. www.finaccord.com/afi Affinity and partnership marketing insurance; retailer financial ser- strategy is an important compo- vices; road assistance; small busi- nent of general distribution strat- ness financial services; and travel egy for a majority of large banks insurance and assistance. and insurance companies serving consumers and small businesses, as Our international network of con- successful partnerships potentially sultants is able to deliver informa- allow them to access groups of tion quickly and accurately across a customers that they cannot always range of countries worldwide, bas- reach by themselves. ing research projects on robust data and knowledge rather than If you would like to join Finac- supposition and theory. cord’s Global Affinity Finance Club , contact us by telephone or send us © Finaccord Ltd., 2016 an email to [email protected] . Registered in London No. 4542931 Thereafter, each quarter, we will The Office Farringdon send you a link to the page of our 24 Greville Street website with fresh news and future London, editions of this document. EC1N 8SS
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