In our most recent article, we talk to Deon Olivier about the changing landscape of banking and its consumers in an era of digital banking and customer experience CX. Most importantly, we learn what the changes unraveling in the banking industry mean for bank loyalty programs as well as what it takes for them to be successful.
Deon has been an active member of the Loyalty Marketing community on both a client and agency level since He works closely with his clients to conceptualize and refine loyalty strategy, conduct market research, business planning, innovative customer value proposition design, customer experience mapping, marketing development, and related strategic and operational design required to bring customer loyalty programs to market.
Deon has delivered bank loyalty program strategies internationally as a recognized industry specialist. In this article, you'll find both the latest on the changing face of bank loyalty programs and their challenges, as well as actionable tips and examples of how to build a robust loyalty program that will improve your customer retention and help you create lifelong relationships using tried-and-tested loyalty mechanisms.
The banking industry has, for centuries, withstood many of the changes occurring in the world, from wars and global financial crises to the advent of automation and AI. For a while, it seemed that banking incumbents were utterly immune to the effects of digital transformation and the rise of new financial services providers.
However, as technological advances, shifting demographics, and new definitions of good customer experience increase the popularity of financial technology fintech , that notion is now being challenged.
