Loyalty Management for Banking | CRM&Marketing Solutions ✔️ Comarch (2024)

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A cutting-edge customer engagement
technology forbanking

Identify patterns incustomer behavior to
build and execute successful loyalty programs

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Loyalty Management for Banking | CRM&Marketing Solutions ✔️ Comarch (1)

What is Comarch LoyaltyManagement forBanking?

A technology that improves customer engagement significantly - and you can take that to the bank

Financial institutions are constantly looking for new ways of improving customer perception in order to become trusted partners and reliable sources of business advice. Fortunately, there are technologies designed specifically to help them raise brand awareness and build stronger relationships with clients.

Comarch Loyalty Management (CLM)is a modern, cloud-based IT system that allows enterprises - including banks and insurance companies - to createand manage successful, user-oriented loyalty programs with ease.Supporting both B2C and B2B operators, CLM incorporates mechanisms of emerging technologies such as artificial intelligence & machine learning so you could identify patterns in customers' behavior and provide offers that meet their needs.

Thanks to its many innovative and practical functionalities, CLM makes building trust with customers easy- see for yourself.

What are the benefits?

  • Improved customer loyalty

    Engage new & existing customers with personalized loyalty programs to achieve better business results in no time

  • Advanced customer behavior analytics

    Put AI/ML technology into practice and identify patterns within your client’s shopping carts to provide offers that hit the spot

  • Compliance with privacy regulations

    CLM ensures smooth integration and sensitive data exchange, fully compliant with GDPR and other legal regulations

Major functionalities ofComarch Loyalty Management

Full Customer Insight

The system provides full customer data and analyzed sales statistics tomake sure you are always up-to-date with the performance ofyour loyalty programs.

Not only does itgive you quick access toyour history oftransactions, but italso allows you toeasily create, manage, ormerge membership accounts.

CLM supports multiple IDclasses (plastic cards, virtual cards), plus, itenables you toorganize your customer data efficiently using asimple & intuitive interface.

Omnichannel Customer Interaction

CLM allows you tostay incontact with your customers atevery level oftheir loyalty program participation. Use ittocreate mass orindividual messages (E-mail/SMS/POS/mobile app/website) informing the members about your current product offers and services.

Also, send surveys tocollect feedback soyou could constantly improve the quality ofyour loyalty programs. Weoffer enhanced smart message editors that will help you write engaging content and create many different versions inmultiple languages.

Facilitated Loyalty Program Customization

By using our CLM system, you will decide what the rules for marketing activities and loyalty programs are. Our product will help you set your business priorities and create personalized offers based ongeolocation.

You will also have access tothe Promotions Calendar which provides acomplete overview ofall ofyour active programs and campaigns. You can use ittoset automatic initiation ofyour programs ifthat’s what you need atthe time. The system isflexible and fully adaptive toyour requirements.

Personalized Offers

CLM's Offer Personalization feature, based onadvanced Artificial Intelligence and Machine Learning algorithms, allows users toidentify their customers' shopping patternssothey could later prepare offers and product recommendations that meet their clients' personal needs.

It was designed tolet you experiment with various product categories and marketing scenarios sothat, inthe end, you could provide offersthat are most likely tohit the spot. Plus, italso enables you tocalculate the Customer Lifetime Value aswell asdetermine what's the best time for presenting clients with your products and services.

Flexible Currency Management

Since many ofthe large enterprises run their business processes onaglobal scale, CLM was designed toallow for quick currency conversion.It enables you to create many different types ofloyalty points, and then itfacilitates the purchasing process onthe user’s side. You can aseasily use CLM totransfer points toanother account ormake arefund, ifnecessary.

Intuitive Rewards Management

Comarch’s CLM system enables you tocome upwith various types ofrewards that you can give toyour most involved customers. Those include discounts, cash-backs, giveaways, vouchers.

The system isasimple yet powerful platform that functions asan extensive reward catalog with many schemes and patterns tochoose from. Create personalized reward offers that will encourage your audience tobecome even more involved.

Robust Multitenancy

Comarch’s CLM solution allows you torun and host multiple B2B and B2C loyalty programsvia asingle platform.Itenables you togive access toloyalty programs toany authorized parties inasplit ofasecond.

Using CLM, you can set various loyalty program proportions for different countries orregions. Itisthe most cost-effective solution interms ofhardware and 3rd party software that significantly lowers the cost ofsystem maintenance.

Loyalty Fraud Detection

The Loyalty Fraud Detection functionality utilizes the latest Artificial Intelligence & Machine Learning techniques soyou could easilyidentify non-typical patterns inyour loyalty program members’ behavior (accrual and redemption transactions, collecting points, account registrations, and more) inorder toprevent any financial drawbacks from happening.

By implementing this feature, you will beinstantly reported about any out-of-the-ordinary incident and, asaresult, you and your team will beable toreact innotime toany potential loyalty fraud cases - before they will cause any damage.

Complete Partner Data Oversight

We know that large enterprises are always incontact with their loyalty program partners and that sometimes results inmaking necessary adjustments tomeet their expectations. That iswhy CLM also serves asadedicated module for providing your partners with relevant data and tools innotime.

Using the CLM, you will have access toyour partner’s billing configuration aswell asthe Data Hub - atool responsible for streamlining the data file exchange processes. Itallows users toquickly and easily integrate new partners - reducing the time and costs ofnew integrations.

Advanced Administration & Reporting

If you’re looking for asolution that will guarantee real-time processing ofall ofyour loyalty transactions, that solution isCLM. The system can definitely serve asan extensive database for your products and stores involved.

Not only isCLM enabled with autonomous fraud detection & prevention mechanisms, but itisalso designed tosupport black-lists administration. Plus, itensures constant monitoring ofloyalty program members’ activity. Any kind ofanomalies will beinstantly reported toyou via alarms & notifications.

Loyalty Management for Banking | CRM&Marketing Solutions ✔️ Comarch (2)

There is no management without data

CLM was designed to provide you with detailed customer information collected from multiple sources. In order to help you understand your clients' needs and requirements better, the system analyzes that data with the use ofAI (artificial intelligence) & ML (machine learning) technologies.As a result, you quickly become aware of what motivates your customers to act, buy, or ask questions. You can later use that knowledge to drive business performance and increase brand awareness significantly.

Our Clients

  • BP GLOBALComarch Loyalty Management for BP GLOBAL
  • Heathrow AirportComarch Loyalty Management for Heathrow Airport
  • Costa CoffeeCLM and CCM for Costa Coffee
  • Jetblue AirwaysComarch Loyalty Management Travel Edition at Jetblue Airways
  • Comarch Loyalty Marketing Platform for Auchan RetailComarch Loyalty Marketing Platform for Auchan Retail
  • Enoc GroupHow CLM Helps ENOC Group Keep The Flame of Loyalty Burning
  • Galeries LafayetteThe Customer Engagement Platform at the service of Galeries Lafayette
  • True ValueComarch Loyalty Management implementation at True Value
  • Enterprise Rent-a-CarComarch Loyalty Management for Enterprise Rent-a-Car
  • ExxonMobilHow ExxonMobil Drives Customer Engagement with an Effective Loyalty Program
  • Livelo BrasilImplementation of Comarch Loyalty Management at Livelo Brasil
  • Natura BrasilImplementation of Comarch Loyalty Management
  • VingroupVingroup a coalition loyalty program in Asia
  • Saudi Arabian AirlinesComarch Loyalty Management for Saudi Arabian Airlines
  • Tab Limited (Tabcorp)Implementation of Comarch Loyalty Management for TAB

More success stories

Recent resources

The Luxury Sector Report 2023

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Retail Report 2023

Comarch and The Loyalty People Release a New Retail Report with Insights for 2023

Fuel Retail Industry Report 2023

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Airline Loyalty Report 2023

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Hospitality Report 2023

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Fashion Report 2023

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The Loyalty Technology Solutions Landscape, Q4 2022 – Forrester Report

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A Guide to Building Customer-Centric Loyalty Programs: 16 Actionable Strategies

Download free white paper

Tell Us Your Case 💬

Upcoming RFP? More info about product and services? Talk integrations? Need a price estimation?

Set up a 30-minute discovery call with our loyalty experts

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Loyalty Management for Banking | CRM&Marketing Solutions ✔️ Comarch (2024)

FAQs

What is Comarch loyalty? ›

Comarch Loyalty Marketing Platform is an AI and ML-driven suite of tools that empowers organizations globally to amplify customer lifetime value, improve brand recognition, and maximize profits.

What is loyalty management in banking? ›

Financial loyalty programs necessitate seamless integration across channels to deliver a consistent customer experience, whether in branches, online banking, apps, or customer service. Customers can check their reward balances, redeem points, and explore new offers through the bank's website, its mobile app, and ATMs.

What are the five criteria for a successful loyalty program? ›

There are, however, several characteristics of loyalty programs that can make them effective, each of which is discussed next.
  • Good Performance by a Company. ...
  • Responsiveness by a Company. ...
  • Shared Identity among Participants. ...
  • Clear Benefits. ...
  • Community Development.

How do you know if a loyalty program is successful? ›

One of the simplest ways to measure your loyalty program's success is to track how many customers join and participate in it. You can look at metrics such as the number of sign-ups, the percentage of active members, the average points or rewards earned and redeemed, and the frequency and recency of transactions.

What does a loyalty manager do? ›

These professionals are often found in industries such as retail, hospitality, and telecommunication where customer retention is key to business success. They work closely with marketing and customer service departments to ensure that loyalty programs are effective and meet the needs of customers.

Is open loyalty open source? ›

Open Loyalty is an open source platform, and the support is minimal.

How do bank loyalty programs work? ›

Point-based programs are a popular loyalty program format in banking. Customers collect loyalty points based on their banking activities, such as account balances, transactions, or credit card usage. These points can then be redeemed for various rewards, including merchandise, gift cards, travel, or even cashback.

Why is loyalty important in banking? ›

In an increasingly competitive financial landscape, building customer loyalty has become a top priority. Customer loyalty goes beyond mere satisfaction; it's the glue that binds customers to a particular bank, fostering long-term relationships and sustained profitability.

What are the 3 main components of loyalty? ›

Emotional loyalty is made up of three components: affinity, attachment, and trust. Sure, you can like a product without being fully loyal. Or you can be attached to a brand simply by receiving their emails.

What is the KPIs for loyalty programs? ›

Loyalty program KPIs (Key Performance Indicators) are metrics you can use to measure the success of your loyalty program. They provide insight into customer behavior and preferences, including customer retention, lifetime value, redemption, and referral rates.

How do you create a loyalty strategy? ›

How to build customer loyalty in 7 steps
  1. Know your customers (and let them know you). ...
  2. Create a customer loyalty program. ...
  3. Set up a referral program. ...
  4. Play to your strengths and values. ...
  5. Engage customers on social media. ...
  6. Encourage customer feedback. ...
  7. Store customers' data.
Oct 23, 2023

How do you evaluate loyalty? ›

How to Measure Customer Loyalty: 8 Essential Metrics
  1. Customer Retention Rate. Let's start with the basics. ...
  2. Customer Lifetime Value. ...
  3. Net Promoter Score. ...
  4. Customer Satisfaction. ...
  5. Customer Effort Score. ...
  6. Driver Questions. ...
  7. Engagement. ...
  8. Repeat Purchases and Referrals.

How many loyalty programs fail? ›

Yet, 77% of loyalty programs fail within their first two years, due to loss of engagement after the initial acquisition.

What is the best example of a loyalty program? ›

Starbucks Rewards is one of the most successful customer loyalty program examples. Yet, it's super simple: customers buy coffee with an app and receive stars (points). Stars can be redeemed for free drinks and food, priority service, and birthday bonuses.

What does Bond brand loyalty do? ›

Bond serves clients globally with customer experience and loyalty solutions that enable brands, customers, employees, partners, and the communities they serve, to experience the benefits of growth.

What are Runescape loyalty points? ›

Loyalty Points are rewarded for continuous membership. You can use your Loyalty points in Solomon's General Store on over 200 different items including emotes and costumes. Find out more information here. Receiving loyalty points. Loyalty points will be applied on the date on which your subscription began.

What is loyalty cloud Salesforce? ›

Salesforce Loyalty Cloud allows businesses across industries to build intelligent loyalty programs from beginning to end with clicks instead of code, that incentivize customers to engage more with the brand and drive repeat business.

What does Annex cloud do? ›

Annex Cloud makes it easy for brands to better understand their customers with our always-evolving SaaS capabilities and integrations, boosting engagement and delivering unique value at every touchpoint while improving loyalty, acquisition and the bottom line.

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