18th September 2023 - 2 min read
Alliance Bank has been awarded the Best Credit Card in Malaysia award at the Asian Banker Finance Malaysia Awards 2023 for its Alliance Bank Virtual Credit Card (VCC) with dynamic card number (DCN) feature.
Introduced in April this year, the Alliance Bank VCC is the first virtual card in Malaysia to offer the unique DCN feature, which allows you to create different “sub-cards” for one-time or subscription payments. This, in turn, minimises fraud risk – enabling cardholders to better protect themselves in a time where scams and frauds are widespread. In addition to the DCN feature, the Alliance Bank VCC also has additional online banking security features, such as the ability to freeze or delete your card number instantly via your Alliance Bank mobile banking app if you believe your personal banking data has been compromised.
Since its rollout, Alliance Bank has also gone on to collaborate with other partners to integrate their VCC into other apps, which lets the bank extend the reach of its VCC to more individuals. The latest of such collaborations is with WOW Fintech to integrate the Alliance Bank VCC into the WOWNations app.
Additionally, the Best Credit Card in Malaysia title by Asian Banker is not the first award that the Alliance Bank VCC has won this year. In early August, it also bagged the New Consumer Lending Product of the Year award at the Asian Banking & Finance Awards 2023.
Meanwhile, the Asian Banker – which was founded back in 1996 – is a global research and consulting company that focuses on the financial services industry. Aside from the Best Credit Card in Malaysia title awarded to the Alliance Bank VCC in the recent ceremony, it also named other banks as winners of other awards. Hong Leong Bank, for instance, was crowned the Best SME Bank of 2023.
(Source: Alliance Bank)
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