CPP GroupCPP Group Plc has partnered with Bank of Communication (BoCom) to provide its online loss reporting service to help customers of the Chinese lender find lost cards.

The service will be available to BoCom customers through its banking app ‘Mai Dan Ba’, which has more than 40 million monthly active users. The service will give the banking customers access to online assistance in the event their card is missing, round the clock.

Spencer Yang, Product Development Senior Manager at BoCom, said, “Ensuring our customers have sufficient protection when it comes to their cards is really important to us. The service that CPP is providing will enable us to deliver additional, valuable services to our customers.”

The service guarantees customer safety, offering an instant response via a dedicated customer service team. It will instantly freeze a misplaced card, once a loss has been reported. It also includes overseas emergency travel assistance to provide transport tickets and hotel fees to ensure unhindered travel.

“One of our main business aims is to use our banking app to attract new customers, as well as encouraging current credit card customers to use us for our other financial services. We believe that CPP’s services will help give us an edge and show how we place our customer’s financial safety at the top of our priority list,” Yang said.

Leeds-based financial assistance product provider CPP counts Ping An Bank, Shanghai Pudong Development Bank, China Guangfa Bank and JD.com as its clients.

Jason Walsh, CEO, CPP Group believes that China is a very important market for the company.

“In our recent half-year financial results announcement, we were pleased to report that revenue in China has grown by 84% compared to the same period last year. This impressive growth shows the significant market opportunity available to CPP, with the team in China playing a significant role in us realising this potential,” Walsh said.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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