Fellow Bank expands its service offering with a credit card
FELLOW BANK PLC PRESS RELEASE 12.1.2023 AT 1:30 PM EET
Fellow Bank launches a Visa credit card to the Finnish market, expanding its payment services offered to personal customers. The credit card has been developed in cooperation with Enfuce.
Fellow Bank’s vision is to offer the most user-friendly everyday banking services to Finnish personal and SME customers. Fellow Bank started its operations in April 2022 and has since then built its digital banking services in phases. Launching the credit card is a significant milestone in this development path.
The application and onboarding processes and the ease of daily use have been developed to the highest standard. The customer can apply for the card in the mobile bank and can start using the virtual credit card immediately. The credit card does not have any annual or other fixed fees charged from the customer. According to a consumer survey conducted by Fellow Bank, the fact that the card is free to apply for and own is what customers value the most. A reward program, as part of the Fellow Bank customer loyalty program, will be launched later this year. The bank will also launch a credit card for its SME customers later during the spring.
“When we started developing the card, the most important thing was to offer the smoothest customer experience on the market when applying for and using the card. Furthermore, we wanted the card launch schedule to support the overall launch schedule of Fellow Bank’s basic banking services. The cooperation with Enfuce has helped us in achieving these objectives”, states Fellow Bank’s Director of Personal Customers, Juha Saari.
Denise Johansson, Co-Founder and Co-CEO at Enfuce, comments: “We’re confident that Enfuce’s agile and scalable card issuing platform will help Fellow Bank’s journey as a new entrant in the banking space. That’s what Enfuce is all about – being a true partner to banks and businesses, helping them to meet their customers’ needs with unrivalled levels of service, functionality and compliance taken care of.”
Monika Liikamaa, Co-Founder and Co-CEO at Enfuce, adds: “We’re thrilled to support Fellow Bank in its quest to offer customers the most flexible and easy-to-use payment services. We know Fellow Bank’s customers will enjoy smooth, seamless payment experiences that will deepen loyalty and open up even more growth opportunities along the way.”
The credit card is available for Fellow Bank’s customers in the mobile bank right away. The card offering will be further developed based on customer feedback.
Further information
Teemu Nyholm, CEO, Fellow Bank Plc, teemu.nyholm@fellowpankki.fi, tel. +358 50 577 1028
Vanessa Schotes, CMO, Enfuce, vanessa.schotes@enfuce.com, tel. +49 17331 53909
Fellow Bank in brief
Fellow Bank Plc is a new Finnish digital bank that helps both personal and business customers to manage their day-to-day finances in a flexible and straightforward manner. For savers, we offer an attractive interest rate on deposits. Fellow Bank Plc is regulated by the Financial Supervisory Authority of Finland and listed on Nasdaq Helsinki’s main list (FELLOW). www.fellowbank.com
Enfuce in brief
Enfuce is a one-stop shop for modern card issuing and payment processing. Founded in 2016, Enfuce has become one of Europe’s leading payment processors that delivers cutting edge debit, prepaid, and credit card solutions. With Enfuce card solutions, traditional banks, neobanks, and fintechs can create next-level payment experiences for their end users now and into the future. www.enfuce.com
*Visa is a registered trademark of Visa International Service Association.
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