Bank Asia credit cards: Your personal teller

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FE Report
BANK Asia Limited started its service almost a decade back in 1999 with a vision to serve people with modern and innovative banking products and services at affordable charge. Being parallel to the cutting edge technology the Bank is offering online banking with added delivery channels like ATM, Telebanking, SMS and Internet Banking. And as part of the bank's commitment to provide all modern and value added banking service in keeping with the very best standard in a globalised world, Credit Card facility was launched in January 2007. With the same commitment, value added features like Bill Payment Facility through internet for the mutual client, Electronic Fund Transfer Facility, Call Center Service, Safety-Net Insurance, Attractive Reward Programs against credit card usage has also been introduced.
Presently the bank is offering MasterCard credit cards only for local usage but international Card is on the go to be launched in August, if all goes well . VISA credit card is also in the pipeline that would be usable both in the internal and the external market .
Credit Cards facilitate your lifestyle in all facets like shopping, dining, accommodation, traveling, hospitalisation, purchasing furniture & equipment. Keeping our main focus on growing needs of present city dwellers the bank have chalked out plan to provide Customer Service through toll free SMS service, to meet education expenses of the children & self, purchase household appliances for a interest free time, gift cards and so on that would be determined in needs of time.
On the other hand to ease the bill payment of customer and to avail banking facility outside of bank premise the bank is going to launch financial kiosk shortly.
Having tremendous potentiality in the growing economy like Bangladesh and due to elimination of AIT on credit card transaction from July 1, 2007, Credit Card business has received a lifeline with good potential growth . Being an unsecured product, successful penetration in the market, would require disciplined approach to targeting the customers.
The question may arise how market discipline can be established, the credit card market is basically dominated by the buyers not by the market players. Market acquisition is very active rather market creation. So, customer from one bank is moving to other banks for enjoying additional benefits. In terms of borrower characteristics and loan security it depends a lot on information provided by the borrower him/herself. The credit card issuing banks collect information on applicants from in some informal ways.
To avoid these limitations & inconveniences all credit card issuers can set up a Formal Forum to interchange credit information each other to minimise lending risk.
Bank Asia honours all of its existing and potential customers as they are believed as kings. They have got the right to be served clearly and precisely by the bank and no hidden or ambiguous covenants should be there. Since the horizon of credit card market is not that much large so no unhealthy or un-fair competition should persist by any of the issuers.
The market is large enough for all the players and with price dynamics coupled with service standard, the better service providers will win the day. Bank Asia is confident of success but our main concern is to service the clients with world class offerings and service. Success and profit actually depends on the ability to provide service. Our clients know that we can.