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.
The right rewards mix encourages both customer engagement and point spend. But increasing loyalty rewards redemption requires a targeted customer segmentation strategy, often going beyond just typical travel rewards offerings.
What if a specific type of reward could create the ultimate travel experience, one that’s exciting, memorable, something your customers have never experienced before? Would you consider it a nice-to-have or need-to-have?
In our final episode of the Art of Loyalty series, we show you how it all comes together. If you’re new to the series you can catch up on episodes one through four here. In this video we reveal the final painting and hear Breann and our Connexions team reflect on their experience with the project.