DraftFcb

Financial Services (105)

Credit for the crowd

Credit for the crowd

The new Barclaycard Ring Mastercard is the world’s first ‘social credit card’, designed through its user community. The simple low-rate card combines social media, online banking and financial education tools to create a credit card managed and optimized through its user community, where its profits and losses as a card are made public.

Why it matters

Barclaycard applies extreme transparency to what is typically a highly guarded category. The card depends on a single behavioural principle - the better users are about paying their bill, the more the card profits. The card’s Giveback programme lets users have a portion of the earnings as thanks for their participation. How can murkier categories like finance start using this type of high-transparency model as a means of creating consumer trust? What are other behavioural-driven solutions like this one can create consumer investment not only in the brand, but also in its profitability?

Connectivity
Conscious
Financial Services
United States
  • home_top_nav_list
  • home_top_nav_list
  • home_top_nav_list
  • left_menu_category
  • most_viewed

Related articles

Making banking responsible?

The consumer credit  company Cofidis has just launched a new signature - “From people, to people” - and changed its own brand positioning to get closer to its clients and their needs. The company is moving away from  being known for anonymous and remote loans.

Conscious
Fear
Financial Services
Portugal
 
Facebook for your finances

‘Yunoo’ is an online personal finance management application that has launched in the Netherlands. By incorporating a social networking element to the platform, consumers can contact users with similar issues and share their experiences, as well as analysing and keeping track of their spending.

Connectivity
Financial Services
Netherlands