The new credit card regulation has been completed for one year, and the deep-rooted operation of Guangfa Card is moving towards high-quality development.

    The notice on further promoting the standardized and healthy development of credit card business will be implemented for one year. With the care and boost of the new regulations, the credit card industry in the period of stock adjustment has steadily entered a new stage of high-quality development.

    To meet the opportunity of adjustment period, Guangfa Credit Card chooses to replace speed with the depth of cultivation, enhance its value creation ability with its operational ability, continue to forge its operational toughness, calmly shift to the stage of high-quality development with stronger strength, more stable growth and better texture. Guangfa Credit Card has achieved good benefits through refined and differentiated management in customer group operation, scene construction, risk foresight, private domain integration and technology iteration.

    According to the 2022 annual report of Guangfa Bank, 109 million credit cards were issued, and the total annual consumption was 2.49 trillion yuan. As of May this year, the online consumption of Guangfa Credit Card accounts for nearly 50%, and the cumulative binding of online payment platforms is nearly 100%. The monthly consumption of restaurants, business trips and other scenes has greatly increased, and it has entered a new situation of reasonable scale, active customer base, healthy consumption and stable assets.

   "Thousands of people and thousands of faces" to improve the accuracy of financial services

    In the stock period, it has become a problem for every card issuing bank to conquer customers with what kind of differentiated business ability. Guangfa Credit Card has established a strong defense system by relying on product innovation and upgrading externally, and the business idea of infiltrating through scientific and technological means to establish loyalty internally is the key factor for its core indicators to remain ahead of the industry.

    Guangfa Credit Card develops exclusive products around the needs of different customer groups, and excavates the external defense moat. For example, in response to the credit consumption demand of the post-1995 generation, Guangfa Credit Card has created a one-stop credit card for the post-1995 generation: Guangfa Youyu Card. At the same time, in order to expand the scene of young merchants, Guangfa Credit Card has also launched nearly 20,000 merchants in tea, entertainment and online celebrity, and nearly 1,000 merchants in literature and travel. With the accurate focus on key customers, the customer base structure of Guangfa Credit Card has been further optimized. The brand survey of credit card industry shows that "young" has become the brand image of Guangfa Credit Card with a relatively significant advantage in the industry.

    The customer value system model pioneered by Guangfa Credit Card in the industry focuses on the dimensions of natural person’s life cycle, consumption preference, card use cycle and product selection. Through data insight, it pays attention to users’ "when, where and what they want", stratifies customer groups in all directions, and provides differentiated and refined services for each customer group. Through the effective analysis of the precipitation data, Guangfa Credit Card atomically disassembled the service capacity, and then combined and matched it according to the individual needs of customers, so as to achieve the transformation from "one size fits all" to "thousands of people" in customer service.

    In addition, the in-depth operation of private domain has also laid a solid foundation for the differentiated financial services of Guangfa Credit Card. The "Yangxiaofa" enterprise micro-system of Guangfa Credit Card puts data analysis and application at the front end of marketing, and directs customers with different consumption preference characteristics to different sub-communities through information such as customer labels and order records. In this way, the front end of the system can customize the label according to the user’s behavior and establish a perfect customer portrait, thus improving the accuracy of financial services.

   Scene management promotes the vitality of financial consumption

    Following the trend of "expanding domestic demand and promoting consumption", Guangfa Credit Card deeply cultivates the consumption ecology, aims at people’s livelihood needs, comprehensively arranges high-frequency people’s livelihood consumption such as water, electricity and telephone charges, and constantly increases the scene construction in the fields of "food, housing, transportation, entertainment, car, shopping and life services", striving to provide personalized services to consumers at any time and any place.

    In order to enhance the willingness to consume, Guangfa Credit Card has continuously increased its efforts to promote consumption in a refined way. For example, it frequently interacts with third-party payment platforms such as WeChat Pay and Alipay to promote convenient consumption through online payment channels. At present, the cumulative binding rate of Guangfa Credit Card on WeChat/Alipay is nearly 100%. From January to May this year, the cumulative online consumption was nearly 450 billion yuan, of which online consumption accounted for nearly 50% in May.

    It is worth noting that Guangfa Credit Card continues to build a customer-specific brand activity-Super Guangfa Day, starting from the three scenes of catering, business travel and consumption abroad, and takes both online and offline measures to give full play to the credit card’s ability to promote consumption. In terms of catering, the "50% discount" meal ticket business, as a normal consumption promotion activity, has been integrated into many industries such as catering, supermarket convenience, retail department stores, leisure and entertainment services, and has continuously distributed coupons to the public through more than 80,000 merchants in more than 1,000 business districts in nearly 300 cities. In terms of business travel, Guangfa Credit Card has enhanced the public’s spending power in all fields through various subsidies, and achieved an increase of over 80% in the average monthly consumption in the first five months of this year. This year, Guangfa Credit Card joined hands with partners to create a consumer brand activity of "Guangfa Wonderful Hainan", and used credit cards to incite consumption leverage to boost the construction of Hainan’s consumption highland. In terms of overseas travel, Guangfa Credit Card integrated the resources of partners and promoted the construction of consumption abroad scene. Stimulated by measures such as cashback of consumption and exemption of foreign currency transaction fees, the total amount of consumption abroad of Guangfa Credit Card increased by 50% from January to May this year.

   Digitalization enhances the endogenous power of management.

    No technology, no finance. Guangfa Credit Card Center has built an intelligent and data-driven digital service system for this purpose, so as to improve customer experience and operational efficiency, and enhance operational efficiency and superimpose scientific and technological capabilities.

    In order to continuously optimize the customer experience, Guangfa Credit Card relies on the "Hummingbird" experience monitoring platform to achieve the technical breakthrough of omni-channel transaction-level customer experience sound collection and analysis. Today, customer experience monitoring has covered many key customer scenarios such as APP, new card issuance and value-added services, totaling over 100 indicators.

    In order to continuously improve customer service, Guangfa Credit Card established a "customer-centered" continuous improvement management platform-Blue Ocean Platform in 2013. In 2022, the new blue ocean platform was upgraded to a comprehensive platform, and 390 optimization projects were promoted throughout the year. Relying on the smart middle platform, 25 customer channels such as customer service, outbound call, WeChat, discovery of wonderful APP and SMS of Guangfa Credit Card are fully linked. Under the command of "super brain" which contains nearly 6,000 customer labels, Guangfa Credit Card can make a 360-degree portrait of customers from the dimensions of customer attributes, product rights and interests, consumption preferences, etc., and realize the mutual convergence of all-channel and all-contact scene marketing data, which can achieve "T+1 hour" quasi-real-time marketing push, greatly improving customer service efficiency and collaboration level.

    In terms of risk early warning, Guangfa Credit Card uses the industry-leading forward-looking early warning system-"Secret Star". With the help of its internal and external big data and intelligent algorithm model and other scientific and technological means, a stable and efficient "risk event+risk control model" dynamic and static combined early warning and control mechanism has been formed.

    For scientific and rational consumer demand, Guangfa Credit Card has launched a transaction-level scenario adjustment service. Leveraging financial technology, we will achieve "one customer, one policy" in many special scenes such as furniture decoration, shopping in shopping malls and tourism, and put the quota in real consumption scenes and high-value customers.

    The credit card industry has entered a period of adjustment, and it is necessary to choose ways and techniques that are more suitable for its own endowment in time, so as to stay in the forefront in the new historical wave. Guangfa Credit Card will continue to adhere to the scientific and technological concept of fine management and development, constantly improve its value creation ability and move towards high-quality development.