Standard Chartered Bank Korea (SCBK) and Samsung Card have inked a strategic partnership on joint financial products / channel development, and collaborative marketing.
The companies are planning to introduce co-branded credit and check cards, which will combine the global network of SCBK and credit card services of Samsung Card by mid April 2016.
Earlier, SCBK and Samsung Card have also agreed to partner in areas of financial technology and innovative sales distribution outlets, including ‘Bank Shops’, and ‘Bank Desks’ at Shinsegae Department Stores and E-mart stores.
Following this partnership, the two organizations will offer alliance card products, and financial products developed under the collaboration, which includes loan products, deposits and investment products.
This collaboration will leverage SCXBK’s product capabilities, marketing experience, as well as Big Data of Samsung Card to offer their customers differentiated financial services.
Samsung Card CEO Won Gee Chan said: "We have built a foundation that can create synergy that is innovative and which will set us apart from others, leveraging our unique differences brought together by the strategic alliance of the two parties’ and ‘we plan to work closely together to expand the product and service portfolio to deliver pragmatic solutions that our customers can enjoy."