Historical series Itaú Unibanco enables a future purchase notification feature for credit cards
The functionality aims to increase the chances of approval of transactions outside the consumption pattern of customers – which could otherwise be denied by risk criteria – reinforcing the security of operations; the journey is 100% digital and gives autonomy to customers, with access via apps
December 2022 – Itaú Unibanco has just launched a new feature aimed at ensuring even greater security in credit card transactions: the warning of future purchases. With the feature, it is possible to inform the bank’s applications before a specific purchase outside your consumption pattern is made – increasing the chances of approval of transactions that could otherwise be denied by risk criteria. The journey is 100% digital, and the feature will be made available to customers in waves over the next few months.
The new functionality can be used in the Itaú and Itaú Personnalité apps, by cardholders – but is also valid for additional and virtual cards, for both in-person and online purchases. For the time being, it will only be available to Itaú account holders. The notice does not change the credit card limit, nor does it generate transaction schedules. It is possible to create one notice per card, valid for two calendar days; if the client generates another notice, the new one replaces the previous one, the most recent one being valid within this period.
“This is yet another move by Itaú to put the customer experience at the center of its functionalities, understanding their needs and jointly building a more fluid experience. The warning was created after requests from our clients, and comes to increase the chance of transaction approval for a purchase that is outside their usual consumption pattern.
In this way, we maintain the security that is Itaú’s brand, without the client missing out on purchasing opportunities or experiencing friction at the time of an important transaction,” explains Mario Miguel, Director of Cards at Itaú Unibanco. “The information provided with the notice will allow Itaú to make more assertive decisions when approving purchases – using data to increase security and enhance our customers’ experience.”
It is important to note that the future purchase notice does not guarantee the approval of the transaction, but rather increases the chances that a non-standard purchase will be approved. This is because several factors are taken into consideration in this process – some of them beyond the control of the card-issuing bank.