IndusInd Bank inks pact with ECS for credit card business

Hinduja Group-promoted IndusInd Bank today signed an agreement with business solutions provider ElectraCard Services (ECS) for providing value added services to its credit card customers.

"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, and cost effective", IndusInd Bank�s Chief Operating Officer (COO) Paul Abraham said in a statement.

The agreement, which came into effect from June 1, will provide technology and processing services to the bank for credit card business.

IndusInd Bank recently acquired the credit card business of Deutsche Bank in India.

"As an organisation, 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 are very important to our overall customer relationship enhancement strategy", Abraham 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", said Ramesh Mengawade, Chief Executive Officer of ECS.

As part of the deal with Deutsche Bank in April, IndusInd Bank had acquired access to almost 2 lakh card customers of the German bank.

IndusInd Bank commenced its operations in 1994 and caters to the needs of both individual consumers and corporates through a network of 300 branches. The bank also has representative offices in London and Dubai.