Strap: The metal card provides a seamless digital experience.
Copy: South-based private bank, Federal Bank has tied-up with OneCard to offer mobile-first credit card.
The bank is betting on retail portfolio and aims to cash in on consumer credit which is likely to peak this festive season on the back of economic revival.
The bank will target the young professionals between 23-35 years primarily representing the millennials and Gen Z. The bank said with its ‘Digital at the Fore and Human at the Core’ looks to become the most admired bank of every stakeholder.
The co-branded card is powered by the slick, smart OneCard application which will give the customer full control of their credit card – spends, rewards, limits, payments and more, thereby minimising human intervention. The mobile-first credit card offers seamless in-app on-boarding whereby the virtual card can be activated and used instantly, while the metal card is delivered to the customer in as less as three-five days.
Shalini Warrier, Executive Director & Business Head- Retail, Federal Bank, said, “We have always believed in the strength of partnerships to expand our reach to customers, and the launch of OneCard is yet another example of this philosophy. OneCard comes with a strong customer proposition, backed by state of the art technology and analytics. We are confident that this partnership will see the Bank and OneCard scale new heights in the credit card business.”
Anurag Sinha, Co-founder & CEO, OneCard said “OneCard is a new-age credit card specifically designed for the digitally native across the country. Credit card is a highly interactive financial product and at OneCard we are aiming to revisit its value proposition by offering a highly tech-enabled, customised experience. Our partnership with Federal Bank further fuels our vision of proliferating ‘smart banking’ through a mobile-first approach.”