Our Loyalty Solution allows financial institutions to increase rentention, deepen customer and partnership relationships and boost profits while reducing costs.
Comprehensive rewards programs are rapidly gaining popularity in the banking industry. Consumers want more rewards and more recognition for their loyalty. That’s why 70% of new credit card products have a rewards program. Your customers are no different. They want to feel valued every time they use your products and services. With First DataSM Loyalty Solutions for Financial Institutions, they will. You can create consolidated rewards programs for every type of customer relationship, and leverage a full suite of solutions for targeted communications in every channel.
Financial Institutions face many challenges with their loyalty programs in today’s competitive market. Customers have multiple choices for their banking needs – bank accounts, credit cards, debit cards, mortgages, etc – and it is difficult to deliver a sustainable competitive advantage for financial institutions. They struggle with tracking purchasing behavior and spending habits, capturing customer data, understanding who the customer is and how to use customer data to build strong, valuable relationships and retain customers.
How Financial Institution Loyalty Solutions Works
With our Financial Institution Solution, you can increase your rewards program effectiveness and reduce loyalty program costs for even your most complex loyalty strategies. Our Loyalty Solutions for Financial Institutions helps you establish specific, targeted loyalty strategies for all your primary customer segments. You can expand your loyalty rewards program offerings to encompass all of your banking products and services, strengthen relationships with loyalty partners and enhance your cost-sharing opportunities.
Our enterprise-wide, comprehensive loyalty solution helps you set new standards in customer satisfaction and efficiency for your Financial Institution.
- Merchant-Funded Loyalty – Provide relevant, merchant-funded rewards to your customers
- Customer Linked Rewards℠ – Accommodate all of your offerings in a single enterprise-wide rewards program
- Item Level Processing℠ – Deliver rich, more relevant rewards to customers based on their individual product purchases and behaviors
Help Your Business
- Increase customer relevance and cross-selling opportunity
- Accelerate customer spending and retention
- Create consolidated rewards programs that encompass every type of customer relationship from credit, debit and cobranded cards to commercial accounts to private label to mortgages and more
- Reduce costs from your loyalty programs by creating a single rewards program with partners across your financial institution
- Implement with ease and get started right away
- Simplify management of customer linked rewards online with our client-defined management tool
- Manage multiple rewards programs for each customer, up to 50 programs each
Help Your Customers
- Drive sales on seasonal sales and specific items by delivering bonus rewards
- Target communications that deepen customer relationships
- Build your brand and customer loyalty
- Manage everything from one centralized location
- Create a holistic loyalty program
- Flexible program management for speed time-to-market
- Compelling offer creation for increased transactions and receivables
- More consumer relationships by offering rewards across lines of business
- Cost sharing using Merchant-Funded Loyalty
- Integrated system keeps reward totals and distributions up-to-date
- Relationships with over 10,000 national, regional and local retailers with a wide breadth of categories
- Flexible platform that allows for program to stand alone on the strength of our participating retailers or overlay with your existing program.
- Proven data approach to target valuable customer segments.
- Customer Linked Rewards
- Item Level Processing to capture data and drive campaigns, promotions and communications targeted to your customers
- Targeted communications for every communication channel's letters, statements, phone, email and web
- A wide-range of rewards and redemption options, including travel tickets, vacation packages, hotel stays, car rentals, merchandise, and gift cards
- Real-time access with up-to-date point balance and account information for you, your partners and your customers
