Seeking Guidance on Partnering with Axis, ICICI, or HDFC for New Credit Card Launch

[Kuldeep Jangir]

Hello Technofino Community,

I am planning to launch a new credit card in partnership with a major bank and am considering approaching Axis Bank, ICICI, and HDFC for this venture. I would greatly appreciate guidance on the best way to present my proposal to these banks. Specifically, I am interested in:

1. Identifying the right points of contact or departments within these banks for such partnerships.
2. Understanding the typical requirements or expectations from banks for new credit card collaborations.
3. Any insider tips or advice on how to make a compelling proposal that aligns with their strategic goals.

If anyone in this community has experience with partnerships in the banking industry or can help me connect with the right people, I’d be very grateful. Thanks in advance for any insights or support you can provide!

 

[Harish Agarwal]

Search for hyperface on Google. You can contact the. . They have been employees in top banks credit card departmenrs and now they have made this au lit credit card and few more.

 

[MVC]

Bro Lost

Hello Technofino Community,

I am planning to launch a new credit card in partnership with a major bank and am considering approaching Axis Bank, ICICI, and HDFC for this venture. I would greatly appreciate guidance on the best way to present my proposal to these banks. Specifically, I am interested in:

1. Identifying the right points of contact or departments within these banks for such partnerships.
2. Understanding the typical requirements or expectations from banks for new credit card collaborations.
3. Any insider tips or advice on how to make a compelling proposal that aligns with their strategic goals.

If anyone in this community has experience with partnerships in the banking industry or can help me connect with the right people, I’d be very grateful. Thanks in advance for any insights or support you can provide!

Bro is not active

 

[jetesh]

Hello Technofino Community,

I am planning to launch a new credit card in partnership with a major bank and am considering approaching Axis Bank, ICICI, and HDFC for this venture. I would greatly appreciate guidance on the best way to present my proposal to these banks. Specifically, I am interested in:

1. Identifying the right points of contact or departments within these banks for such partnerships.
2. Understanding the typical requirements or expectations from banks for new credit card collaborations.
3. Any insider tips or advice on how to make a compelling proposal that aligns with their strategic goals.

If anyone in this community has experience with partnerships in the banking industry or can help me connect with the right people, I’d be very grateful. Thanks in advance for any insights or support you can provide!

Launching a credit card in partnership with a major bank is a strategic move that requires a well-crafted approach. Here's a comprehensive guide on how to proceed:

1.​

• Axis Bank, ICICI Bank, HDFC Bank: The ideal departments to approach are typically the Retail Banking, Credit Card Division, or Partnerships and Alliances teams. These divisions oversee credit card product development and strategic partnerships.
• Key Roles: Consider targeting senior managers or vice presidents responsible for product development, strategic alliances, or the head of the credit card division.

2.​

• Market Analysis: Banks expect a detailed market analysis, showcasing potential market size, target customer segments, and competitive positioning.
• Value Proposition: Clearly define the unique benefits of your credit card offering. This might include attractive reward structures, innovative features, or co-branded benefits that align with the bank’s objectives.
• Financial Projections: Be prepared with robust financial projections, including expected revenue, break-even analysis, and risk mitigation strategies.
• Compliance and Risk Management: Banks require assurance that the partnership will comply with regulatory standards. Highlight your understanding of financial regulations and your strategy for risk management.
• Technology and Integration: If your card offers tech-driven benefits (e.g., AI-powered fraud detection, app-based controls), outline your technology infrastructure and its compatibility with the bank’s systems.

3.​

• Alignment with Bank’s Goals: Tailor your pitch to the strategic goals of each bank. For example, if a bank is focusing on digital innovation, emphasize the technological edge of your offering.
• Customer-Centric Approach: Banks are keen on value propositions that attract and retain customers. Present detailed insights on customer experience and engagement.
• Risk and Reward Balance: Clearly outline both the benefits and potential risks, and explain how you plan to manage or mitigate the risks.
• Partnership Case Studies: If possible, reference successful case studies of similar partnerships to build credibility and demonstrate the potential impact.
• Personalize the Pitch: Understand the core values and recent initiatives of each bank. Customize your proposal to show that your card is a strategic fit.

4.​

• Industry Events: Attend banking and fintech conferences to network with senior executives from these banks.
• Professional Platforms: Use LinkedIn to connect with key decision-makers in the credit card and retail banking divisions. A personalized message expressing your interest in exploring partnership opportunities can be effective.
• Warm Introductions: If you have contacts within the financial sector, leverage them to get introductions to the right people.

 

[Kuldeep Jangir]

Short answer is you cannot just like that launch a co branded credit card with banks. There are a lot of terms and conditions
It will be a win win for both parties. What will bank win if they launch your card? How much will you pay bank annually?
How are other companies paying right now? What will you get if you co brand with a bank?
Decide on what offers you provide to customers. For each card, what will the bank get?
Afaik companies like Amazon Flipkart Myntra or whichever big brands are there, are paying atleast 500-1000 crore each year to banks.
In return they get business from the customers and also additional credit facilities from banks.
Already so many big cos are waiting to launch cobr, why should a bank choose your company?


Edit - some more thoughts

Why do you want to launch a cobranded card exclusively for your company ? That will be very costly, time consuming and complicated. Instead think if you can add your company benefit to any existing card.

Like for example, tie up with HDFC and make it like regalia gold customers get 10% off on your bands.

Another thought - tie up with visa or master card so that all visa holders any card can get your company benefit. Rupay is best for this kind of tie ups. Go with rupay platinum.. all rupay platinum cc card holders u can reach. Wider reach and better business for you...


@Aniket @kuchbhi @moneyMaker add your thoughts ?

Thanks for your advice, will account them all
Rupay is good, I will reach NPCI later

 

[Kuldeep Jangir]

I don’t know if this question is serious or not but in case it is you look up this company can use its idea as template or seek them out for opportunities
Zaggle Prepaid Ocean Services is an Indian fintech company that provides payment and expense management solutions. Here's an overview:

*Company Profile:*

- Name: Zaggle Prepaid Ocean Services Ltd.
- Founded: 2011
- Headquarters: Hyderabad, India
- Founders: Raj N Phani, Avinash Babu Gottumukkala
- Industry: Financial Technology (Fintech)
- Services: Payment Solutions, Expense Management, Corporate Cards

*Business Model:*

Zaggle offers a range of services:

1. Prepaid Cards: Customizable cards for corporates, individuals, and merchants.
2. Expense Management: Digital solutions for tracking and managing expenses.
3. Payment Gateway: Secure online payment processing.
4. Corporate Cards: Customized cards for businesses to manage employee expenses.
5. Digital Wallets: Secure storage for funds, loyalty points, and rewards.


*Financials:*

- Revenue (2022): ₹2,444.6 million (~ $33 million USD)
- Net Profit (2022): ₹523.8 million (~ $7 million USD)
- Market Capitalization (2022): ₹5,309 Cr (~ $710 million USD)

*Partnerships:*

1. Visa
2. Mastercard
3. RuPay
4. NPCI (National Payments Corporation of India)
5. Various banks and financial institutions

*Competitors:*

1. Paytm
2. Zeta
3. Sodexo
4. HDFC Bank's PayZapp
5. ICICI Bank's Pocket



*Stock Performance:*

- Listed on NSE and BSE
- Stock Symbol: ZAGGLE

They have different business model and market. I am targeting different market

 

[Kuldeep Jangir]

Search for hyperface on Google. You can contact the. . They have been employees in top banks credit card departmenrs and now they have made this au lit credit card and few more.

It looks good, will contact them and see if they can help.

 

[Kuldeep Jangir]

Launching a credit card in partnership with a major bank is a strategic move that requires a well-crafted approach. Here's a comprehensive guide on how to proceed:

1.​

• Axis Bank, ICICI Bank, HDFC Bank: The ideal departments to approach are typically the Retail Banking, Credit Card Division, or Partnerships and Alliances teams. These divisions oversee credit card product development and strategic partnerships.
• Key Roles: Consider targeting senior managers or vice presidents responsible for product development, strategic alliances, or the head of the credit card division.

2.​

• Market Analysis: Banks expect a detailed market analysis, showcasing potential market size, target customer segments, and competitive positioning.
• Value Proposition: Clearly define the unique benefits of your credit card offering. This might include attractive reward structures, innovative features, or co-branded benefits that align with the bank’s objectives.
• Financial Projections: Be prepared with robust financial projections, including expected revenue, break-even analysis, and risk mitigation strategies.
• Compliance and Risk Management: Banks require assurance that the partnership will comply with regulatory standards. Highlight your understanding of financial regulations and your strategy for risk management.
• Technology and Integration: If your card offers tech-driven benefits (e.g., AI-powered fraud detection, app-based controls), outline your technology infrastructure and its compatibility with the bank’s systems.

3.​

• Alignment with Bank’s Goals: Tailor your pitch to the strategic goals of each bank. For example, if a bank is focusing on digital innovation, emphasize the technological edge of your offering.
• Customer-Centric Approach: Banks are keen on value propositions that attract and retain customers. Present detailed insights on customer experience and engagement.
• Risk and Reward Balance: Clearly outline both the benefits and potential risks, and explain how you plan to manage or mitigate the risks.
• Partnership Case Studies: If possible, reference successful case studies of similar partnerships to build credibility and demonstrate the potential impact.
• Personalize the Pitch: Understand the core values and recent initiatives of each bank. Customize your proposal to show that your card is a strategic fit.

4.​

• Industry Events: Attend banking and fintech conferences to network with senior executives from these banks.
• Professional Platforms: Use LinkedIn to connect with key decision-makers in the credit card and retail banking divisions. A personalized message expressing your interest in exploring partnership opportunities can be effective.
• Warm Introductions: If you have contacts within the financial sector, leverage them to get introductions to the right people.

Would you like help drafting an initial proposal or connecting with experts in the financial industry?

Thanks a lot. You provided a very detailed answer to my question. After talking to major banks India heads i came to understanding that my product is something they are not willing to launch at this moment. I am targeting medium size banks like RBL, Federal, etc.
If you have any contacts in these banks, kindly DM me

 

[Kuldeep Jangir]

May be he owns a company or working in a co., which is planning to launch a CC.

@Kuldeep Jangir What's the matter?

Admin, Bankers, etc., can help you in this matter.

Thanks
I need contacts in banks [ Federal, IDFC, RBL ] in roles of strategic alliance or executive positions. If you or any banker have a contact please let me know.
Also if there is someone who is good with compliances of cards in india, please let me know, i want to verify feasibility of few items

 

[Kuldeep Jangir]

Bro is Neo, launching a CC,

Does Bro even has a big contact at the banks he mentions?

I am new to this platform.
After your comment i thought this platform doesn't have genuine people and started looking for answers somewhere else.
It will be good if you can uphold the decorum and respect of the platform. Thanks for understanding.

 

[Kuldeep Jangir]

Icici mostly likely won't partner
Hdfc is very cocky with co branded card
Axis might after kiwi switching sides with yes bank

You are absolutely right. ICICI isn't willing.
You have any contact in RBL, Federal, IDFC ?