Low interest rates on credit cards not to cause disruption: COO, IDFC First Bank
Click here to read full article from source
MUMBAI, Jan. 18 -- IDFC First Bank is taking a different approach to the credit card business, where it is a late entrant. Typically, issuers have looked at credit cards as a convenient payment model, but IDFC First Bank is treating it like a credit instrument, as it happens in developed countries.
Mint spoke to B Madhivanan, chief operating officer, IDFC First Bank, on the lender's business plans. Edited excerpts:
Also Read | Churn in India's internet economy
How do you manage to keep interest rate low across all cards when no other issuer has done so? Is it to cause a disruption in the business?
We use proprietary algorithm to evaluate the credit profile of an applicant. The higher the score, the lower the interest rate or annual pe...
To read the full article or to get the complete feed from this publication, please Contact Us