The State Bank of India (SBI) has announced pilot launch of a distribution alliance with Cox & Kings for sale of travel prepaid cards in India. This partnership will help marketing of Travel prepaid card available in eight Currencies (US Dollar, GBP, Euro, Singapore Dollars, Jap Yen, Canadian Dollars, Australian Dollars & Saudi Riyal) and will currently target the corporate customers of the bank.
Speaking at the launch, Manju Agarwal, Deputy Managing Director (Digital Banking and New Businesses) State Bank of India said, The Bank is excited as this has been the third alliance SBI has entered into for travel Card business to supplement their distribution reach which is already very deep in the consumer segment.
The partnership with Cox & Kings will help the bank to serve their corporate segment and travel segment, where the Bank is not very active in the product category due to service delivery challenges which can be facilitated with Cox & Kings Ltd coming on board. The pilot will be initiated in select branches and based on the learning will be expanded across the country in near future.
Anil Khandelwal, Chief Financial Officer, Cox & Kings, said, We are delighted to partner with SBI and to offer the entire gamut of forex services and the State Bank Travel card to its corporate customer base. Cox & Kings has an excellent track record in the distribution & servicing of forex travel cards and this association with SBI is a great opportunity to expand our presence and service large corporates.
