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The Loylogic Podcast: How African Bank is rewarding the unrewarded
Manage episode 470638727 series 3651893
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In contrast to other loyalty programs, which simply reward customers for transacting with one brand, Audacious Rewards creates incentives for positive financial behavior, such as customers improving their credit score. The custom-built program has been created to work for all African Bank customers and allows members to earn and redeem loyalty points with an exciting network of partners – covering day-to-day purchases like groceries and mobile data/airtime, as well as exclusive aspirational rewards.
This initiative ties in with African Bank’s vision to build a bank for the people, by the people, serving the people, as defined by its audacious Excelerate25 strategy. Key to that vision is the ability to deliver sustainable, accessible, and inclusive financial services to all South Africans. To do that, African Bank embraced technology that enables partnering with organizations who can enhance its rewards offerings to customers that ultimately drive smart / healthy customer behaviors.
To create their new loyalty program, African Bank teamed up with Loylogic, the global leader in loyalty and engagement solutions and an established loyalty marketing powerhouse. Through its partners, African Bank will also be able to accurately measure the impact of Audacious Rewards on the business, bringing loyalty metrics to the boardroom.
In this podcast, Dr Nceba Hene, Head of Loyalty and Rewards at African Bank, and Gabi Kool, CEO of Loylogic, discuss how African Bank’s Audacious Rewards program is incentivizing positive financial behavior for all customers. Together, we delve into:
- How the program is enabling members to earn and redeem loyalty points with an exciting network of partners – covering day-to-day purchases, as well as exclusive aspirational rewards, all without having to deal with unnecessary red tape or jump through hoops.
- The mechanics of the program, including how cost and attribution are being calculated.
- The customer messaging and the rewards that are behind the rapid growth of this program.
15 episodes
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