East West Bancorp Introduces Chinese-Language Internet Banking; Bilingual Internet Banking Capability Strengthens Bank's Position in Core Market
SAN MARINO, Calif.--(BUSINESS WIRE)--Aug. 31, 2000--
Discount Offer on Pacific Bell High-Speed DSL Internet Service
with Prodigy or Free SINA.com Dial-Up Access
and Shell Prepaid Gift Cards Add Value for Customers
East West Bancorp, Inc. (Nasdaq: EWBC), parent company of East West Bank, one of the nation's premier community banks and a leading financial institution focused on the Chinese American and other niche markets, today announced that it now offers Chinese-language Internet banking capabilities, and will provide its customers with a discount on Pacific Bell High-Speed DSL Internet Service with Prodigy or free SINA.com dial-up access. In addition, to attract customers and new visitors to its Web site, East West Bank has joined with Shell to provide the Bank's customers with Shell prepaid gift cards.
East West Bank believes that its Chinese-language Internet banking product is the first interactive domestic online banking service available in Chinese and will further enhance its strong reputation as the market leader in serving the California Chinese American community. The Chinese-language service enables consumers to open accounts, check balances, transfer money, access transaction history and pay bills online. "This is a major milestone in the history of East West Bank," said Dominic Ng, President and CEO. "With a Chinese Internet-based banking product, our reach to the Chinese community has expanded considerably; not only here in California, but throughout the United States and Asia as well."
With the introduction of Internet banking in Chinese, East West continues its longstanding tradition of delivering groundbreaking financial products and quality, personalized service through its multilingual team of banking professionals. East West was among the first financial institutions to offer ATM service and 24-hour automated telephone banking in Chinese, English and Spanish. "A great deal of our success is attributable to our ability to meet the cultural and service demands of our ethnically diverse customer base with responsive and innovative banking," said Ng. "The introduction of Chinese-language Internet banking is another example of the Bank's commitment to its core retail market and another reason we believe that we can maintain the growth in this stable deposit franchise."
Regarding East West Bank's marketing alliances, Ng said, "It is very gratifying to be selected as a strategic partner by global corporations like SBC, SINA and Shell. We are proud to share our brand name with these companies and help them reach out to the Chinese community, while at the same time bring value-added services to our customers."
Commenting on the joint promotion, Pam Price, Senior Director, SBC Consumer Market - Alliance Partnerships, said, "SBC Communications is pleased to be working with East West Bank to make Pacific Bell High-Speed DSL Internet Service with Prodigy available to its customers. SBC is dedicated to supporting and understanding the needs of the communities we serve. Our alliance with East West Bank complements our outreach efforts to a very important segment of the Asian population and enhances our company's understanding of the communications needs of the Chinese community."
East West Bank will offer its customers Pacific Bell Basic High-Speed DSL Internet Service with Prodigy for only $37.95 a month with a one-year service agreement. The Basic DSL service enables customers to experience the Internet at speeds up to 50 times faster than a standard 28.8 kilobits per second (Kbps) modem, and allows subscribers to access their DSL line while simultaneously talking on the phone or sending a fax. Currently, Pacific Bell DSL is available to more than 6.5 million homes and businesses in California.
To further facilitate usage of online banking services, East West Bank has also partnered with SINA.com, the world's leading Chinese Web site, to provide free dial-up Internet access. Through their Free ISP product, SINA.com will provide East West Bank customers the crucial link to anytime/anywhere Internet access in North America. All East West branches will distribute co-branded Free ISP CD-ROMs, allowing instant access to all SINA and East West Bank online products and services.
David Eddy, Vice President of Sales at SINA.com, commented on the alliance with East West, "As the largest Chinese-language Internet portal in North America, we are glad to work with East West Bank to enhance online banking resources for Chinese Americans. Asian Americans are using online banking services more than any other ethnic group in the United States. By linking with East West and offering free dial-up access to the Web, we increase our visibility among an expanding financially savvy online population."
East West Bank is also teaming with Shell to provide a $10 Shell prepaid gift card to the first 1,000 individuals to open a new account with East West Bank during the month of October. Additionally, East West and Shell will hold a sweepstakes for the Bank's customers through which they can enter to win a $100 Shell prepaid gift card each week, from October 1, 2000 through March 31, 2001. Consumers can use Shell prepaid gift cards to purchase gasoline or retail products.
"At Shell, we are committed to providing consumers with quick and hassle-free products and the Shell prepaid gift card is a perfect example," said Dave Burrow, General Manager, Equilon Pacific South Region. "We are pleased to join with East West Bank, a company that is also committed to responding to customers' needs, as proven by their new Internet banking product. We look forward to working with East West Bank to make their customers' lives easier." |
