AU Small Finance Bank introduces customisable credit card, LIT
By siliconindia | Friday, 24 June 2022, 02:13:03 PM IST
AU Small Finance Bank has launched an innovative Credit Card product that brings a revolutionary change in the credit card landscape. The AU Bank LIT (Live-It-Today) Credit Card, by the largest small finance bank and one of the fastest-growing retail banks in India, offers a unique value proposition to cardholders – to choose the features they want and for the time period they want.
While credit card companies offer attractive products in different categories, it is often difficult for customers to find the combination of all such features in one single card. This forces them to opt for multiple credit cards offering specific category rewards like Travel card for maximising travel related spends or co-branded cards for shopping on specific e-commerce sites. With the LIT Credit Card, the Bank has put the power to choose these features in the hands of the customers – all categories in one card. Further, they also get the freedom to switch on or off these features as per their changing lifestyle requirements.
LIT credit card provides a higher degree of engagement to customers, through the AU0101 app as they can track their saving/earnings daily to maximize their benefits. Most importantly, the card hosts multiple benefits and customers can activate any feature on-the-go in real time for a small convenience fee. LIT provides the cardholder a complete control on its offers and fee that they pay for those offers in a clear, transparent manner and saves the cardholders multitudes of annual/renewal fee for benefits they don’t use. Cardholders can avail the best of both Cashbacks and Reward Points, using the features that are offered. The default validity period for each feature is 90 days.
“At AU Bank, we have always believed in challenging the status quo by leveraging technology and innovation to bring the change that the banking industry needs. Last year, we became the first Small Finance Bank to start a Credit Card portfolio to empower our customers. Soon, we observed that the digitally-savvy and GenZ consumers needed more control over the products they use. This led to the evolution of the customizable LIT Credit Card which brings the features of many credit cards into a single card. We will continue to launch many such innovative products and remain true to our mission of being the change agent through our mission, Badlaav Humse Hai,” said Sanjay Agarwal, MD & CEO, AU Small Finance Bank.
While AU Bank already has a bouquet of card services, the addition of the LIT Credit Card will help it cater to the evolving needs of a digital-savvy generation of informed users. AU Bank launched their first range of credit cards last year. Since then, the Bank has successfully enrolled more than 2.3 lakh Lakh credit cards customers from over 200 districts of Tier 2 and Tier 3 cities, majority of whom are first time credit card users.
Read More News :