Federal Bank inked a strategic alliance with OneCard and launched a mobile -first Credit Card that aims to provide offer digital experience to the young population across the country.
With OneCard, Federal Bank will be targeting the young working professionals between 23-35 years, primarily representing the millennials and Gen Z.
The co-branded card powered by the slick, smart OneCard app 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 3-5 days.
Commenting on the partnership, 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.”
On the launch 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.”
OneCard has been launched by FPL Technologies – a fintech start-up which aims to digitally revolutionise credit and payments in India.