T

he increasing number of affluent individuals has led to banks outdoing each other offering attractive wealth management products, with premium banking products dubbed as the most popular.

In comparison to the mass market, individual affluent customers make up a segmented market that incontestably contributes significant profit to the banking industry.

Seeing the situation as a lucrative opportunity, banks have come up with such propositions as premium products that facilitate high-end customers with undivided attention in a specially designed comfortable space, with a friendlier service and, more importantly, these distinguished customers don'€™t need to line up when doing banking transactions at their branch.

That'€™s it? More comfort is reserved for the discerning few. Comfortable parking areas with parking reservations, exclusive lounges with Wi-Fi Internet and dealing areas that guarantee the confidentiality of any banking transactions, just to name a few of all the services customized for well-to-do customers.

Standard Chartered, BNI and BCA are among the big banks that offer attractive premium banking products to cater to the needs of high-end customers.

Targeting individuals with minimum investable assets of Rp 500 million, the Standard Chartered Infinite Card is now back with more features on offer, from attractive cashback for various transactions, to tempting reward points for both international and national domestic purchases. The reward points are also offered for non-purchase transactions, such as savings, deposits and investments.  

Bank Negara Indonesia has pampered its privileged customers with BNI Emerald Priority Banking. These distinguished customers are BNI customers who have minimum total assets worth Rp 1 billion in a varied portfolio, such as with a current account, investments, insurance, mutual funds, bonds and a deposit account.

Rp 1 billion in assets is the prerequisite before a premium customer can get a BNI Emerald card. The cardholder is entitled to an array of BNI super premium services, including an Infinite credit card for various domestic and overseas shopping needs. A BNI Emerald cardholder can simply just call the BNI Emerald call service for immediate medical assistance, including ordering a helicopter.

 Bank Central Asia is another bank offering premium services for its high net worth customers. Through BCA Prioritas, the bank tailors the needs of its privileged customers with a broad array of attractive offers such as rewards and special discounts from chosen merchants.  

Since 1996, BCA Prioritas has improved its special services with a high level of privacy and a more customized approach.  

Known as a micro-banking with a main core business in rural areas, Bank Rakyat Indonesia (BRI) has since December 2007 branched out into a new line of banking targeting affluent individuals.

BRI Prioritas is designed to serve customers with a wide range of innovative banking products and is an alternative for those maintaining at least Rp 500 million in their accounts.  

Anyone who can afford having a minimum investable asset of Rp 500 million, or even more, is basically eligible to apply for a priority banking service. Providing first class service with a more closely personal approach is the objective of a bank offering such products. What these wealthy customers demand is more than just a financial service, but also security and comfort. The banks, such as Standard Chartered, BNI, BCA and BRI, are aware of this and have given their privileged customers just such discreet attention. (JP)