Loyalty programs are an essential tool for all modern businesses to magnify customer engagement, improve retention and provide creative avenues for effective marketing campaigns.
However, rewards programs often do not realize their full potential. The business challenge for successful implementation can be significant. Potential pitfalls include: account inactivity, low redemption rates, time delays, high transaction costs, high system management costs and low numbers of new and retained clients.
Read a blog article by our CEO Raman Korneu on Finextra: https://www.finextra.com/blogposting/20258/fintech-reward-programs-as-ecosystems