Citigroup's Hong Kong arm believes it has set a new service standard for the credit card industry in its domestic market by introducing the instant credit card issuance service.
The new offering substantially reduces the current card approval cycle from days to approximately an hour, the US lender says. Citibank is the first and the only bank in Hong Kong that can provide such a service at present.
Atul Malik, country business manager for Citigroup in Hong Kong, comments: I am very pleased that our innovation once again sets a new benchmark in the cards industry. As the market gets more sophisticated, it is increasingly important for banks to be responsive and tailor their product offerings to satisfy customers’ needs. It is even more so for credit cards, as it has become a key payment vehicle for our customers.
From now until October 15, 2006, instant issuance is available at leisure outlet Langham Place. Customers may also access the service using Citibank’s touring credit card mobile van.