Citigroup is expanding its global cards
distribution network with a strategic alliance with Turkish lender
Akbank,
in which it has a 20 percent stake.
The partnership is an extension of the two
banks’ five-year old coalition.
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Cit is to add additional features to Akbank’s
Wings Cards, already the product of the banks’ collaboration,
making the card compatible with Citi’s global footprint.
The Citi Wings card will be launched in June
and bear both banks’ logos.
Citi’s head of consumer banking in Turkey,
John Denhof, said that the partnership was part of the bank’s
strategy to grow its business in Turkey’s competitive banking
sector.
Denhof added that the deal takes advantage of
Akbank’s merchant network in Turkey.
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By GlobalDataThe card will be compatible with Citi’s
13,000-units strong global network of ATMs and, under the Citi Mile
Transfer programme, card holders will get free flights with
participating international airlines.
Other incentives include:
- Access to Citi World Privileges with discounts in 4,000
participating restaurants, hotels and stores worldwide; - Discounts on shipping charges on purchases made online at
Globeshopper;
The motto of the strategic alliance and
product launch is “Life. Now. Unique.”
According to Mehmet Sindel, executive vice
president, payments systems at Akbank, the launch of the Wings Card
entails other features of the strategic partnership as well:
“The expanded features of Wings will be of
great benefit to cardholders. For instance, our joint ATM
service has been so far available only in Turkey. It will now be
widely available all over the world.”
“The new Wings features of Citi Mile Transfer
Program, Citi World Privileges, Global Citi ATM Share and
Wings Globeshopper, really differentiate the card in the market in
Turkey.”
