Home News & events Press Releases 2009 City Bank introduces American Express to Bangladesh using TranzWare

 

logo-cityCity Bank, Bangladesh, and American Express (AmEx) have announced a strategic alliance and unveiled two new American Express cards for the Bangladeshi market. Contracts were signed between Compass Plus and City Bank on 16th June 2009, for the predominant purpose of successfully certifying the bank as an Issuer and Acquirer of American Express and to enable the installation of its own switching system, securing its exclusive partnership with the global payments company.

This project was the first of its kind for Compass Plus in supporting the issuance of American Express cards, and was deemed a huge success. City Bank’s primary objective was to migrate from a third party company and install its own switching system whilst receiving reputable support throughout the implementation process. The bank chose Compass Plus to provide them with a more flexible solution and to launch a complete set of products for credit card management, relying heavily on IT Consultants Limited (Bangladesh), a long term partner of Compass Plus, which has long been providing these services using TranzWare software.

City Bank was certified as a national Issuer and Acquirer of AmEx on 22nd October 2009, the first certification in AmEx in the region of Bangladesh and is to issue two types of credit cards; AmEx Gold Credit Card and AmEx Credit Card. The bank will be responsible for all operations, including billing and accounting, customer service, credit management, charge authorisations and marketing. City Bank has plans to grow the number of locations in which the cards will be accepted and has further plans with Compass Plus to develop its TranzWare product range, initially by the development of cheque book functionality.

Of the successful alliance between City Bank and Amercian Express, City Bank Chairman Aziz Al Kaiser said: “The introduction of the cards with such strong privileges and benefits is nothing but a testimony to City Bank’s commitment and leadership in the retail or consumer banking sphere of this market.”

About City Bank:

City Bank is one of the oldest private Commercial Banks operating in Bangladesh. It is amongst the oldest five leading Commercial Banks in the country that commenced their operations in 1983.  The bank currently has 84 online branches and 5 SME centres spread across the country that includes a fully fledged Islamic Banking branch. Besides these traditional delivery points, the bank is also very active in the alternative delivery area. It currently has 25 ATMs of its own; and an ATM sharing arrangement with a partner bank that has 225 ATMs in place; SMS Banking; Interest Banking and so on. City Bank is the first bank in Bangladesh to have issued Dual Currency Credit Card. The bank is a principal member of Visa international and issues both Local Currency (Taka) & Foreign Currency (US Dollar) card limits in a single plastic card. The bank currently boasts a base of over 400,000 retail customers.

www.thecitybank.com.bd

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