Thailand’s Kasikornbank Launches “the Debit Card Foursquare Limited Edition”

Many countries in the Asia Pacific region, such as South Korea and the Philippines, have some of the highest broadband internet and mobile penetration rates in the world. Naturally, the levels of activity and time spent on social networks are among the fastest growing too.

Back in June 2010, a report from ComScore confirmed that the Latin American and APAC regions have experienced by far the fastest growth in terms of twitter usage year on year. Indonesia, the Philippines and Singapore are all in the top 10 markets by twitter penetration.

Back in September 2009, Kasikornbankstarted to leverage social media under the ‘KBank Live’ name, when they launched theirKBank Live page on facebook and their@KBank_Live account on twitter.
In less than 18 months, the bank built sizable communities on both services: over 120k fans on facebook and over 27k followers on facebook. Those numbers place the bank (and Thailand) in our Visible BankingFacebook Top 10 and our Visible Banking Twitter Top 10.

The Debit Card Foursquare Limited Edition And kasikornbank’s social media activity doesn’t rely solely on facebook or twitter. The bank is now trying to leverage mobile and geolocalisation to drive traffic to their branches and REWARD their customers to visiting them.
And they do it in style. Indeed a few weeks ago, the bank tapped into the popular Foursquare service in an innovative way and I believe became the very first bank to launch a dedicated Debit Card offer.
Please note that the KBank Live team has its own foursquare account. In the last 18 months several banks and insurance companies in the US and in Europe tested ways to leverage Foursquare, usually with limited success. The more recent initiative coming from Caja Mediterraneo in Spain.

Promotional Offer on KBank Live’s Facebook Page KBank-Foursquare-DebitCard2
The KBank Live team created a dedicated “FOURSQUARE” tab on their popular facebook page. This tab is static and merely displays a picture about the initiative. I invite you to find more information on another “landing page” on facebook (the KBank Live shared this link directly on their wall). KBank-DebitCardFoursquare
Terms of privileges
1. Customers to participate will need to Check-in in Foursqaure Application via mobile phone that supports Foursquare (eg Smart Phone: iPhone, Blackberry, Andriod, Palm, Ovi (Nokia), etc.) that KBank Official Venue by the Bank. in Article 4. only
2. The benefits of this project, starting on February 11, 2554 – February 28, 2554 or until the prizes run out. (But in any case take place before).
3. The Bank reserves the right to offer special privileges for the right customers is 1 to 1 only.
4. Customers can receive benefits by showing evidence of Check-in accordance with Article 1. The Banker (only for customers the first 10,000 have been pillow KBank Mayor value of 150 U.S. 1 free voucher) must show proof of Check-in at only 20 branches in department stores are participating. CHECK-IN tomorrow to prepare for it well in. I do not forget the pillow in. We have 10,000 tickets to the Mayor.

Update on 18th February 2011
“I updated a little tired my. Friends that have not went to check in at the participating branches KBank for Mayor pillow with only 10,000 tickets this field MBK Center. Central and branch out and then in. T_T Rattanathibet pillow has another 15 branches to check the same. I need to hurry up and trade ^ _ ^.”

My Take
I love gateways between the real world and online, so congrats to the KBank Live team for the launch of this promotional offer and the debit card! I can’t wait to find out how the active audience and engaged dialogs on facebook will help Kasikorbank to drive a sizable volume of regular checkins, and at last demonstrate an impactful and valuable use of foursquare in banking. And more importantly, how appealing will thai people find the REWARD? In case of an incredible success, I wonder how the branches would deal with the high volume of visits/checkins? Ideally, the bank would offer foursquare users a personalized welcome, but how would their other customers react with that preferred treatment? Any thoughts?

What do you think?

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on are his own.

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