ING Direct is reportedly set to launch a credit card for the first time in its 20 years in the Australian market.
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The bank has held out against offering a credit card for a long time, saying it wouldn’t enter the market until it had something distinctive to offer, reported Banking Day.
ING Direct executive director customer delivery Lisa Claes said the bank is now creating the product, which would make a feature of the bank’s distinctive approach to packaging rewards.
"There is scope for innovation in cards. There is a massive opportunity to service customers better."
The launch of the credit card is part of the bank’s strategy of moving from a specialist financial institution, offering a high-yield savings account and attractive home loans, to a main financial institution.
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By GlobalDataING Direct has rolled out a couple of customer loyalty initiatives since 2014 that allow customers to use the bank as their main financial institution.
Claes said that rewards ‘linked to the proposition the bank was trying to satisfy for’ provided greater customer equity.
"It is very easy to say you are customer-centric but do you give back without the customer asking? Customers want to see action," Claes added.
