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VeriPark’s Loyalty Management Solution built on top of Dynamics 365 offers financial institutions an end-to-end loyalty management system which accelerates customer spending and retention.

 

Today's consumers are demanding services that go beyond basic banking needs, they expect to be rewarded for their loyalty. VeriPark's Loyalty Management Solution built on top of Dynamics 365 offers financial institutions an end-to-end loyalty management system which accelerates customer spending and retention while fostering loyalty and long-term engagement with the customers. It enables the financial institutions to maximize their customer value through personalized rewards that match with their expectations.

The omni-channel loyalty solution helps to create highly flexible loyalty and reward programs that are integrated across all channels from online and mobile to kiosks and POS terminals. The programs can be multi-tiered and cumulative; as customers engage more with the services, they can earn more rewards. By implementing the Loyalty Management Solution, banks can also run joint marketing campaigns with selected merchant chains and redemption partners.

Key Features

Campaign management: Combining centralized customer data with advanced customer segmentation profiling to create personalized campaigns across all channels.

Merchant-funded Campaigns: Creating merchant-funded campaigns which are targeted to various customer segments and utilizing merchant partners to provide rewards and incentives to the customers.

Multi-Tier Loyalty Programs: Building multi-tier, multi-scheme, multi-segment loyalty programs that rank bank customers into different groups based on specific metrics. Each tier can be defined by a variety of tangible rewards and intangible benefits such as higher credit card limits or discounted fees.

Event and Transaction Based Earning: Offering event and transaction based rewards where loyalty points can be earned when a customer makes a transaction such as an ATM cash deposit or a fund transfer or makes a purchase at one of the partner merchants.

Self-service Portal Support: Providing a simple, modern self-service customer portal with an online gift catalogue where customers can view and manage points and make purchases quickly on any device.

 

Partner Portal for Order Fulfillment: Tracking customers' orders in CRM and communicating to the relevant supplier partner for the order fulfillment.

Real-time Points Earning: Empowering bank's customers to earn and redeem their rewards in real-time easily and seamlessly by exposing an API to channels and external systems as soon as a transaction happens.

Multiple Loyalty Schema Support: Running multiple loyalty programs such as one program for SME customers, one for the internal staff by using the same server.

Gamifications: Associating incentives with a challenge where customers complete a mission to unlock benefits, status or rewards.

Key benefits for the financial institutions

  • Increasing customer loyalty and retention through gifts and incentive programs
  • Engaging and rewarding customers beyond transactions through relevant and personalized customer communications
  • Increasing customer lifetime value through personalized and rewarding customer experience
  • Reducing acquisition costs with omni-channel, direct marketing capabilities
  • Raising brand awareness, increasing ROI
  • Reducing churn
  • Increasing customer spending on higher margin products

Key benefits for customers

  • Gaining privileges and benefits through multi-tier loyalty programs
  • Having instant access to a range of rewards and gifts
  • Earning and redeeming points
  • Experiencing meaningful engagement and interactions that go beyond simple transactions