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The Card Awards 2010

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Virgin Money

I've just received the magazine announcing the winners of this year's Card Awards (last year's winners can be seen here). 

And the envelope openings went to:

Best New Credit Card Product of the Year
PayPal and Santander Cards

Best Credit Card Marketing Campaign of the Year
Barclaycard


Best New Prepaid Card Product of the Year

O2 and the Royal Bank of Scotland Group


Best Prepaid Card Marketing Campaign of the Year

O2 and the Royal Bank of Scotland Group


Best Affinity or Co-Branded Credit Card Programme

Virgin Money and Bank of America


Best Business Card Programme

HSCB Bank


Best Card Benefits Programme of the Year

American Express


Best Card Cross-Selling Programme of the Year

Marks & Spencer Money


Best Charity Credit Card Programme

Cancer Research UK and Lloyds Banking Group


Best CRM Programme

American Express


Best Corporate Social Responsibility Programme

Bank of America


Best Online Initiative

Barclaycard


Best Achievement in Customer Service

Nationwide Building Society


Best Security or Anti-Fraud Development

Marks & Spencer Money


Best Technology Initiative of the Year

Home Retail Group Financial Services


Best Industry Innovation of the Year

Barclaycard


Most Responsible Credit Card Lending Practices

Nationwide Building Society


Best Card Design of the Year

Barclaycard


Industry Personality of the Year

Peter Godfrey

Not surprisingly, Barclaycard’s Waterslide Marketing campaign won the award for Best Campaign of the Year (blogged about that one a few times) and the O2/NatWest partnership gained a few nods too (see the campaign here).

More surprisingly is the detail in the M&S Security Award for using the SAS Fraud Management solution which resulted in:

  • the fraud referral rate reduced to 0.05 per cent of total transactions
  • complaints have fallen by 30% due to Flexible Blocking
  • the actual value of net fraud losses is 12% lower in 2009 than 2008
  • the point of compromise model has helped the false positive rate (FPR) to reach 5:1
  • M&S Money identifies nearly 90% of total fraud cases before the customer does
  • 80% of fraud cases result in no financial loss

Must look into that SAS software.

Mind you, bit fishy that the Best Technology Initiative Award happens to revolve around a TS2 install, as TSYS is the Awards main sponsor.

You can see details of all the awards by registering and downloading the Awards Magazine.

 

About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here…

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  • Very impressive results for the SAS Fraud Management system!!.5:1 false positive is absolutely a good outcome, but does beg the question what is being left on the table.