Who doesn’t love an arsenal of information at their fingertips? Over the years, Connexions Loyalty has generated a plethora of information – everything from understanding consumers’ preferences to helping brands combat the growing threat of loyalty fraud.
An international travel industry leader serving 180 million customers annually in more than 300 locations, the company’s annual revenues top $40 billion, making it the largest player in the industry by both asset value and market capitalization.
A Fortune 500 community bank nearing its 150-year anniversary has hundreds of billions of dollars in assets and operates thousands of financial centers across several states.
Customers expect financial institutions to have the highest level of fraud protections in place, but online fraud is constantly evolving. And while financial institutions have rigorous systems in place to prevent banking fraud, one very valuable asset is often left exposed: loyalty rewards accounts.
Loyalty program members, especially those in the financial services industry, expect those companies to guard their personal information in the most robust way possible. And while 72 percent of loyalty program managers report experiencing fraud, many are challenged to build a case internally for this type of protection.
With 3.3 billion memberships in the U.S. alone, loyalty programs are worth $48 billion, according to Colloquy. Hackers and thieves see valuable loyalty currencies — the cache of points and miles socked away in countless programs — as easy targets since customers often monitor them less, compared to other financial assets.
“At Discover, our focus is driving outstanding customer experiences. Our partner, Connexions Loyalty, provides highly valuable features and benefits to Discover customers each and every day to help us achieve these goals.”
Discover® ranked #1 in customer loyalty among leading credit card brands, according to the Brand Keys Customer Loyalty Engagement Index report. Even more impressive: Discover has won the credit card category many times over.
“The Elite Rewards credit card offers a compelling mix of rewards to recognize cardholders for using their card. Our goal is to motivate cardholders to use their card for every purchase they make instead of using cash or another payment vehicle. Connexions Loyalty designed a promotional campaign to educate and motivate cardholders about the benefits of their card, along with an enticing bonus offer to generate card usage. This campaign not only paid for itself due to the results but also generated a sustainable lift in credit card usage among promotion participants.”
Elite Rewards: The Freedom of Choice. The Power of Points.
The Elite Rewards credit card rewards program enables cardholders to earn points for their everyday purchases. Elite Rewards points may be redeemed for gift cards to top merchants, merchandise such as iPods and tablets, and travel rewards including airline tickets, hotel and car rentals, cruises and activities. When cardholders use their Elite Rewards credit card for everyday purchases, both online and in-store, they accumulate more points to redeem for quality rewards.