Standard Chartered launches approval-in-principle for credit cards
Standard Chartered Bank on Monday launched Approval-in-Principle (AIP) for customers applying for credit cards online.
It will enable customers to get an instant approval in-principle decision on his or her credit card application, StanChart said in a statement.
Applications which are approved in-principle have a higher probability of eventually getting a card subject to the bank's verification of details shared and documentation completion, including collection of KYC and income-proof documents, it said.
The service is currently available for customers applying for a credit card online and will subsequently be introduced at the physical branches and partner retail outlets, it said.
Source: Economic Times
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