South Indian Bank launches SIB - OneCard Credit Card; Stock ends 1% higher

The internationally valid credit card on the Visa Signature platform can be fully controlled through the powerful OneCard App.

Sep 09, 2021 03:09 IST India Infoline News Service

South Indian Bank
South Indian Bank has launched the SIB - OneCard Credit Card. A premium metal card, the SIB - OneCard has a unique app-based onboarding process, which is in line with the Bank's vision of digital transformation.

The internationally valid credit card on the Visa Signature platform can be fully controlled through the powerful OneCard App.

As per the regulatory filing, the SIB- OneCard comes with many exciting features like lifetime validity with zero joining and annual fees, 100% digital customer onboarding process, instant virtual card issuance, instant issuance of reward points and easy redemption within the app, etc. The premium metal-based card on the Visa Signature platform having an NFC facility offers easy management of EMls from the EMI dashboard in the app. It has the lowest forex fee in the market at just 1%.

"Digital Banking being one of the focus areas for South Indian Bank, this next-generation credit card is the best product to offer to India's young population. More tie-ups with fintech companies are in the anvil and we are happy to associate with OneCard to launch a truly next-generation credit card", said Sri. Murali Ramakrishnan, MD & CEO of South Indian Bank.

The SIB - OneCard with a host of futuristic features takes the credit card experience to the next level. Customers can bank on the intuitive mobile app to control their credit cards and manage their spending. The Bank will use tools like Video KYC and CKYC to digitally onboard premium customers.

OneCard has been launched by FPL Technologies - a fintech start-up that aims to digitally revolutionise credit and payments in India. The company had earlier launched the OneScore app in 2019, to empower people to monitor and manage their credit health in a simple, secure manner; without any spam. The scoring platform is widely popular and has acquired more than 7 million users within just two years of its launch.

On Sensex, the Bank's stock finished at Rs9.97 per piece up 1.01%. 

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