ElectraCard Services (ECS), a leading provider of technology and business solutions in the electronic payments domain, signed an agreement with IndusInd Bank to extend technology and processing services for their credit card business effective 1st June 2011.
As technology partners, ECS will cater to various aspects of credit card program with a bouquet of product offerings like comprehensive credit card management solution electraCREDIT, advanced fraud management engine electraGUARDTM, comprehensive collection solution electraCOLLECT and fraud prevention solution for ecommerce transactions electraSECURE.
IndusInd bank had recently announced its foray into the credit card business, after acquiring a leading foreign bank's credit card business in India. With this acquisition, the Bank has access to a high quality customer base. ECS, as technology partners will provide the technology, processes and expertise to ensure a seamless migration and meet the Bank's requirements of delivering smooth, fast and secure platform to service its customer base today and in the future, which is expected to see sizable growth.
Speaking on the occasion, Mr. Ramesh Mengawade, CEO, ElectraCard Services said, "As technology partners, our focus will be to ensure a smooth migration and assist IndusInd Bank to deliver a credit card programme which enhances customer experience. We are confident, that IndusInd Bank, like our other partners in India and international markets will benefit from our knowledge base and innovative solutions."
Mr. Paul Abraham, Chief Operating Officer, IndusInd bank said, "As an organization, we are continuously moving up the value chain to ensure our customers' needs are met in a comprehensive manner. Credit cards further enhance our suite of products and is very important to our overall customer relationship enhancement strategy. We are confident that this partnership with ECS will enable us to provide value adds to our customers with products and services that are innovative, reliable, secure & cost effective."