Citibank to white label BOQ credit cards
(8 January 2007 – Australia) Bank of Queensland has signed a "white labelling" agreement with Citibank to distribute and support BOQ branded credit cards.
BOQ managing director David Liddy said Citibank won a tender to provide the bank with product, back office and marketing support to enable BOQ to keep growing its credit card business.
"We have had significant growth in our credit card portfolio over the last 12 months, but we had reached the point where major decisions had to be made regarding back office IT and infrastructure to support future growth in the portfolio," he said.
"Citibank is an expert in credit cards, including product development and delivery as well as support and sales which will build on Bank of Queensland’s successful franchise model," Mr Liddy said.
"We have had significant growth in our credit card portfolio over the last 12 months, but we had reached the point where major decisions had to be made regarding back office IT and infrastructure to support future growth in the portfolio," he said.
"Citibank is an expert in credit cards, including product development and delivery as well as support and sales which will build on Bank of Queensland’s successful franchise model," Mr Liddy said.
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