Revolutionise banking in the digital era with E.SUN’s 5A Digital Customer Strategy

It leverages innovative partnerships and cutting-edge technology to enhance customer experience, loyalty, and advocacy, positioning itself as a leader in digital banking transformation.

Delivering a positive customer experience has become paramount for businesses in recent years, especially in the banking sector. As customers increasingly demand seamless, personalised, and efficient digital interactions, financial institutions must prioritise customer satisfaction to remain competitive.

E.SUN, a leading Taiwanese bank, is a shining example of how to excel in today's digital banking landscape. With nearly 8 million customers and assets totalling US$120b, E.SUN has consistently prioritised superior service quality, whether through in-person interactions or digital platforms. 

Their success hinges on a customer-centric approach, embodied in their innovative “5A Digital Customer Strategy.” Explore each stage and find out how E.SUN leverages technology to create a seamless and rewarding customer journey.

Access: Expanding reach through strategic partnerships

Expanding reach beyond traditional channels is crucial. By collaborating with companies that share a target audience or have a strong existing customer base, organisations can gain valuable exposure and streamline the customer acquisition process. This allows them to tap into a wider market whilst offering partners' customers a valuable new service or product.

E.SUN's approach to customer access is grounded in building an extensive ecosystem with non-banking partners. By collaborating with prominent entities like FamilyMart, Taiwan's second-largest convenience store chain, and the leading supermarket chain’s e-payment scheme, PX Pay, E.SUN has significantly broadened its customer base.

In 2023 alone, over 13,000 new customers joined E.SUN through these partnerships, demonstrating the efficacy of this collaborative model in reaching untapped customer segments.

Acquire: Seamless onboarding for maximum cross-selling

A smooth and efficient onboarding process can make all the difference in converting interest into loyal customers. By eliminating friction points and streamlining the application process, companies can increase the chances of customers completing their initial transactions.

For instance, the introduction of E.SUN's Unified Application Platform has transformed its onboarding experience, making it a seamless one-stop process. This enables customers to apply for multiple products in a single application, leading to a remarkable increase in cross-selling rates.

The credit card cross-sell rate has nearly tripled, whilst brokerage account cross-sell rates have surged by more than 50%. Moreover, over 3 in 5 applicants now opt to apply for multiple products simultaneously.

Activate: Comprehensive solutions for enhanced engagement

Keeping users engaged goes beyond simply acquiring them. By offering comprehensive solutions that address their specific needs and pain points, companies can turn passive users into active participants.

E.SUN has focused on creating end-to-end digital solutions to meet customer needs effectively. As a result, the number of active digital users has grown by 76% since 2019. This growth can be attributed to excellent digital experiences, strategic cross-selling, and efficient customer communication. The development of robust digital channels has ensured that customers enjoy a convenient and engaging banking experience.

Adhere: Building customer loyalty

Beyond having an engaged customer base, companies strive to build customer loyalty. This means not only nurturing a relationship where customers keep coming back for more products or services but also actively recommending the brand to others.

Recognising its importance, customer loyalty is a cornerstone of E.SUN’s strategy. The e.Fingo loyalty programme, which boasts over 1 million members, operates similarly to an airline mileage programme. Members accumulate points through daily banking activities, which can be redeemed for merchandise or discounts. Additionally, they can advance to premium levels for exclusive benefits. The success of this strategy is evident within E.SUN, as e.Fingo members are 35% less likely to leave the bank compared to average customers.

Advocate: Turning customers into brand champions

E.SUN's dedication to customer experience has earned it the top spot in a nationwide Net Promoter Score (NPS) survey conducted by Wealth Magazine in both 2021 and 2022. This accolade reflects the bank's commitment to delivering outstanding customer experiences and innovative digital services. By prioritising customer satisfaction and leveraging digital innovation, E.SUN has successfully transformed its customers into advocates.

E.SUN’s successful platforms and innovations in the digital realm have been recognised by the ABF Retail Banking Awards 2024, with the bank bagging the Digital Transformation of the Year - Taiwan and the Unified Applicant Platform also winning the Customer Experience Initiative of the Year - Taiwan category.

Now in its second decade, the ABF Retail Banking Awards acknowledges and honours outstanding entities that are reshaping the retail banking landscape through innovative solutions, retail products, digital banking breakthroughs, and exceptional customer experiences.

The ABF Retail Banking Awards is presented by Asian Banking & Finance Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be recognised for your company's cutting-edge products, services, and solutions that made a positive impact on your customers, please contact Julie Anne Nuñez at [email protected].