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- African Bank recently announced its new loyalty programme “Audacious Rewards”.
- The loyalty programme will allow members to earn and redeem points on daily purchases, including groceries, fuel, and exclusive aspirational rewards.
- African Bank aims to reward customers’ positive financial behaviour with an improved credit score.
- For more stories go to www.BusinessInsider.co.za.
African Bank recently announced the launch of its new loyalty programme, “Audacious Rewards”, aimed at making various financial services easily accessible to its clients.
According to the bank, the new loyalty programme will allow its members to earn and redeem loyalty points with a network of partners instead of one brand. This will cover redeemable points on day-to-day purchases, including groceries, fuel, and exclusive aspirational rewards.
The loyalty programme will also reward positive financial behaviour by improving customers’ credit score.
“Audacious Rewards” was made possible by a partnership formed between African Bank, global leader in loyalty and engagement solutions Loylogic, and loyalty marketing powerhouse Pinnacle Rewards.
Leading Chicago-based data and analytics company Kyros is also part of the team and will bring loyalty technology metrics to the bank’s boardrooms for the first time.
“Loylogic, Pinnacle Rewards, and Kyros have succeeded in designing a programme which meets the requirements of accessibility, inclusivity and measurability and we can’t wait for our customers to get access to all the benefits it will bring them.
“We see this as an integral part of our recently revealed transformation strategy Excelerate25, through which we aim to leverage our rich heritage, diversify our business and build a customer-centric, data-driven, scalable and digital-first business,” said African Bank’s Group Executive: Operations Darryl Adriaanzen.
The bank plans to adopt Loylogic’s innovative e-payment platform, Pointspay, and its new engagement solution by 2023.
African Bank customers with a transactional MyWORLD account now have access to the new loyalty programme, and the full rollout featuring a more extensive rewards catalogue and incentives for positive financial behaviour, will launch later this year.
“We are proud to partner with African Bank and Pinnacle Rewards to create a first-of-its-kind loyalty programme which has been designed with inclusivity at its heart, whilst at the same time driving financial wellbeing.
“We will use our sophisticated technology to incentivise and reward good money management, driving positive behaviours and supporting members through their journey to build a better life, whilst making the programme part of memorable moments along the way. We’re at an exciting new frontier – the democratisation of loyalty,” said Chief Commercial Officer at Loylogic Gabi Kool.
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