25 July 2025

Alliance Bank Visa Virtual Credit Card Recognised at the Asian Banking & Finance Retail Banking Awards for 3rd Consecutive Year

Press Release

Kuala Lumpur, 25 July 2025 - Alliance Bank Malaysia Berhad ("Alliance Bank" or the "Bank"), was awarded the Open Banking Initiative of the Year award at the Asian Banking & Finance Retail Banking Awards. Winning for the third consecutive year, this accolade provides recognition to the Bank once again in its commitment to deliver innovative, secure, and customer-focused digital solutions through its Visa Virtual Credit Card (“VCC”).

The first of its kind in Southeast Asia, the VCC is Alliance Bank’s answer to modern, tech-savvy customers who are increasingly favouring mobile banking and privacy. Developed with the customer’s needs in mind, the VCC delivers secure and customer-centric digital banking solutions with robust security features such as the Dynamic Card Number (“DCN”). This innovative feature generates a random 16-digit card number that changes every 30 minutes to minimise the risk of fraud.

Flexibility is also another aspect that the VCC excels in, with its real-time issuance, making it an ideal payment solution for online transactions and subscription-based services. Customers can also control the spending limit of the VCC and manage its settings through the allianceonline mobile app, providing them a seamless experience when performing transactions with the VCC.

Ms. Gan Pai Li, Group Chief Consumer Banking Officer of Alliance Bank, said, “At Alliance Bank, we know customers today want simple, fast, and secure ways to pay — that is exactly what our VCC offers. Whether it’s shopping online, paying for subscriptions, or managing expenses, the VCC makes it easy and safe, all from the mobile app. We are happy to see more customers embracing this convenience, and we will keep innovating to make digital payments even better for them.”

Alliance Bank’s credit card base has doubled over the past two years, reflecting VCC’s strong market acceptance and rapid growth in customer adoption. It has contributed to a 93% reduction in the time needed to freeze or replace compromised cards, as well as a 46% improvement in the form of efficiency, with digital autofill and e-signatures.

As part of Alliance Bank’s commitment to innovation and enhancing the customer experience, the Bank has partnered with Samsung and Google to enable NFC payment functionality. This initiative supports the rising demand for flexible mobile payment options, allowing VCC users to make secure, contactless transactions across a wide range of compatible devices. With this enhancement, the number of VCC transactions has increased by 47%, reflecting stronger engagement and growing preference for seamless digital payment experiences.

Being the first virtual card in the region, the VCC also eliminates the plastic and paper usage required by a physical card, supporting Alliance Bank’s broader sustainability agenda by incorporating ESG practices into its business model.

Underpinned by its innovative and sophisticated security features, the VCC has received worldwide recognition with 23 awards to date, including being the Winner for Third Party Partnerships in the Most Innovative Payment Initiatives at the Retail Banker International Asia Trailblazer Awards 2025.

For more information on Alliance Bank Visa Virtual Credit Card or the Bank’s products and services, please visit https://www.alliancebank.com.my/personal/Cards/Credit-Cards/visa-platinum-virtual-credit-card.
 

 

Gan Pai Li (left) with the Open Banking Initiative of the Year award at the Asian Banking & Finance Retail Banking Awards

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