Hammonds
President,
Bank of America
Card Services
Vice Chairman of Corporate Development
Chief Administrative
Officer
Q:
Are there opportunities for the bank in affinity marketing beyond credit cards?Bruce L. Hammonds:
Yes, we believe there are terrific opportunities to grow by offering more products and services to our credit card partners and customers.
Affinity marketing made Bank of America's Card Services division a worldwide leader in the credit card industry. Now Bank of America has become the first financial services company to apply the affinity concept to a broad range of banking products.
In fact, we've already extended affinity marketing to Bank of America deposit and home equity products. Members of organizations who share a strong common interest or passion — such as the college or university they attended, their favorite cause or professional affiliation — can further support their groups through lines of credit and everyday checking and debit card transactions.
We plan to offer affinity deposit and loan products through our more than 5,700 banking centers and the Bank of America Web site, as well as through direct marketing.
We expect the new offerings to strengthen the loyalty of our customers while helping them achieve their dreams.
Next: Gregory L. Curl on the strategic partnership with China Construction Bank
2. Bruce L. Hammonds on affinity marketing