Bank loyalty program in United Arab Emirates

Digital enterprise platform enabling a highly engaging and personalized solution for any-sized business to start your own or coalition-based loyalty program for improving customer engagement and sales stimulation campaigns

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Industry solutions

Holistic reward ecosytem to impress, grow and engage your customer base

Large retail networks

Develop devoted communities to resist competition with scheduled marketing activities and advanced analytical capabilities

Motivational programs for billers

Encourage customer culture with reward and money-saving campaigns for timely and advance payments for utility bills

Malls

Launch a captivating multi-tenant loyalty program with a common ‘bonus’ currency across your network

Wallet operators

Your financial inclusion efforts will gain much stronger momentum with the advanced engagement capabilities

Paid loyalty programs

Collect recurring fees for the premium benefits you deliver. Improve quality of your audience

digital rewards platform features

Full-fledged rewards solution for you and your partners to engage customers and stimulate sales

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Rewards engine

  • Processing
  • Bonuses, coins, liters, cashbacks – call it whatever you like. Our processing core will robustly handle any request or movement
  • Loyalty program settings
  • Set the desired rules, priorities, constraints, expiration for accruals and redemption
  • Anti-fraud
  • Tackle unusual activity and keep the promo-hunters calm with the advanced fraud management settings

Profiling and CRM capabilities

  • Coalition loyalty program management
  • Get your coalition program partners on board, grant access to all capabilities, including data import for branches, cashiers, customers, and products
  • Activity tracking and segmentation
  • Compose your own or integrate external blacklists. Set up database triggers for post-transaction verification. Create various limit types (min/max, turnover or count). Set up various types of fees (% or fixed, min/max, etc.)
  • Communication
  • Easily set up and manage the omnichannel interaction with your loyalty program members to keep them in touch. Use variables, templates and sequencing tools
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Marketing activity management

  • Campaigns and promotions
  • Plan and automate your marketing activity. Design, schedule and run parallel campaigns and sales promotions the way you want
  • BI tools and analytics
  • Understand your customers’ shopping behavior, optimize offerings and plan future targeted campaigns using various statistical, data interpretation and reporting tools

THE BENEFITS YOU GAIN

Come up with your unique, holistic loyalty program to improve interactions with your customers

flexibility

Flexibility

The platform is easily connectible with your databases, software, and hardware

customization

Customization

Wallet Factory’s reward platform can be tweaked to perfectly match your business needs

real time performance

Real-time performance

Effective communication with customers through multiple channels

sophisticated rewards

Sophisticated rewards

Holistic management tools provide a meaningful way to connect purchases from every channel

holistic financial ecosystem

A single entry point to power up your omnichannel strategy

Open source API allows for the widest variety of implementations:

Sales equipment / channels

  • Cashier equipment
  • Accounting systems
  • Website backends
  • Mobile applications
  • Self-service terminals
  • Bots in messengers

Interfaces

  • Tenant
  • Merchant (partner)
  • Support
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TECHNICAL EXCELLENCE

Leverage industry’s proven best practices

best tech stack

Best tech stack

Tap into FinTech solutions backed by the latest yet tried-and tested technology innovations in product development and design

seasoned in house staff

Seasoned in-house staff

Get a reliable well thought-out digital platform built, delivered, and supported by senior IT experts in software engineering & DevOps

market readiness

Market readiness

Accelerate your company’s time-to- market rates with customer approved digital solutions perfectly tailored to your brand identity and individual business needs

big picture approach

Big picture approach

Enjoy a robust end-to end platform solution based on holistic strategies and deep analytical insights into your business specifics and customer expectations

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WHAT'S INCLUDED

Manage your loyalty campaigns with ease

Leverage a wide range of features included in our Rewards platform to build and deploy your full-scale customer reward programs that boost customer loyalty, increase engagement rates, and enhance experiences with your digital financial services

Rewards engine

  • Cloud processing (bonuses, cashbacks etc.)
  • Rules for accruals, redemption, expiration
  • Priorities and constraints
  • Anti-fraud

CRM/Profiling

  • Customers, partners, branches, cashiers, products
  • Manual and automated
  • Support claims
  • Fraud attempts logging
  • Digital loyalty cards

Marketing activities

  • Campaigns
  • Promotions
  • Coupons
  • Special bonuses
  • Planning tools
  • Payment reminder emails

Analytics

  • Grouping, segmentation, tiers
  • Sales, sales bias, demand, receipts
  • Campaigns and promotions
  • Accruals and redemptions

Communications

  • Email, SMS, push, messengers
  • Bulk dispatching
  • Sequences, templates, variables
  • NPS surveys

CONTACT US

Book your demo
session now!

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    Bank loyalty program in United Arab Emirates


    What is bank loyalty program


    A bank loyalty program is a marketing strategy aimed at a financial institution to retain customers. The financial sector is highly competitive. Payment system programs have become a new trend. They offer the organization of interaction between the buyer and the seller without a bank’s participation, for example, Visa Commerce Network.

    Banks need new solutions so as not to be the third wheel in the seller-buyer relationship.

    The availability and convenience of digital tools here play an important role in retaining customer loyalty. In banking, consumers do not buy products in the traditional sense. They use a bank card as a tool for making purchases. And the banks loyalty programs are aimed at stimulating payments with the help of a card.

    Bank loyalty programs have a limited number of participants. Unlike supermarkets or online stores, only those with an open bank account can join the program.

    Opportunities to interact with a loyal audience are limited. Customers do not contact the bank regularly, but only when they need to open or close an account.

    Benefits of loyalty program in financial services


    A working loyalty system allows not only to store the client's funds in a bank account but also to receive several advantages:

    ● Business reputation improvement
    The more the consumer appreciates the services provided by the bank, the higher the likelihood that he will recommend them to others.

    ● Increasing the number of transactions;
    The bank earns on the issuance and maintenance of credit and debit cards, interest on the use of credit money, etc. The more often the customer makes purchases, the higher the average check, the greater the bank's income.

    ● Reduced customer churn
    According to statistics, in Europe and the US, more than 32% of customers leave in the first year after opening an account, and only 19% show loyalty by staying with the bank for a long time. The more rewards and bonuses the client receives from using the card, the less he thinks about moving to another bank.

    ● Card life extension
    The more attractive the loyalty program, the more benefits from cashback, cash withdrawal or non-cash payments the client receives, the longer he uses the card.

    Differences between B2B and B2C loyalty


    In the B2B sector, payments are higher. This means that one customer will bring more profit to the bank. At the same time, the process of making a decision on cooperation with the bank is extended in time, due to the need for approvals at various levels of the organization.

    The bank's customer base in the B2B sector is smaller than in B2C but more detailed. Therefore, the financial institution has the opportunity to offer a more personalized loyalty program designed for a specific organization or its management.

    The bank can offer non-financial services to the companies it cooperates with, such as customer clubs, which create an opportunity to establish business contacts and exchange business experience in a particular area.

    Finally, the bank can offer a coalition as loyalty programs: bonuses, cashback, discounts, etc. when buying partner goods with a bank card.

    Types of banking reward programs


    Point Based Program
    The points program is one of the most effective. It has proven itself in many types of business. In banking, rewards in the form of points are also popular.

    According to studies, every second consumer is ready to change banks if another offers him a card with a large number of points. At the same time, more than 40% agree to reissue the card, upgrade its class or open a new one, if the bank offers bonuses for this.

    Coalition points programs are popular in banking. Their characteristic feature is the ability to use bonus points as a universal currency. The consumer earns them in one organization and spends in another. For example, for using banking products (credit, deposit, etc.), he receives bonus miles, which he can spend on buying air tickets or booking a hotel.

    Cashback Program

    Cashback is a customer reward program that allows him to return part of the money spent on the purchase of goods using a bank card. The programs first appeared in the US in the 1980s and have been popular ever since because they take advantage of the customer's desire to receive a gift and save on purchases.

    The program is based on an agreement between the seller and the bank that issued the card. For each purchase with the bank card, the seller returns a certain percentage to the bank. The latter, in its turn, returns part of the payment to the buyer.

    Many cashback programs allow the cardholder to select categories of goods in the mobile wallet he will receive an increased monthly reward for in the form of a part of the money from the payment made.

    Gift Card Program

    Gift cards are debit cards that contain a certain amount of money. They can be of two types:

    ● Open, which allows you to use the funds on the card to make any transactions or withdraw cash from an ATM.
    ● Closed, which can be used only in a certain distribution network or for the purchase of certain types of goods.

    Gift cards appeared in the US in the mid-1990s. They are used to encourage employees, as appreciation to regular customers and to promote a business by applying a company logo. Every year in the US, banks and companies issue $100 billion worth of gift cards. According to statistics, more than 70% of gift card holders spend 20% more than the face value of the card when making a purchase.

    Referrals Program

    Referral programs are a way to reward customers who recommend the bank to their friends and acquaintances. The benefits of such programs:

    ● Efficiency
    More than 80% of customers trust the recommendations of good friends.

    ● Increasing brand awareness and customer loyalty
    More people know about the bank. Customers who recommend the bank's services will stay with it longer.

    Banking and financial services. Loyalty software solutions


    mLoyalty offers ready-made solutions for creating bank loyalty programs. The bank receives a program released under its own brand, getting the opportunity to collect data and offer various options for customer loyalty programs.
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