CSOB’s Era World Reward Program deepens customer relationships
with new self-serve bank-wide loyalty program
VANCOUVER, (April 8, 2015) – Zafin and Československá obchodní banka (CSOB) are pleased to announce a successful launch of the Era World Rewards program, powered by Zafin’s miRevenue.
Era World Rewards, an innovation to traditional bank loyalty programs, extends customer rewards beyond credit or debit card purchases to include rewards for additional banking activities, such as acquiring new products, activating mobile banking, and participating in surveys.
“CSOB’s Era World Reward Program defines the next generation of bank loyalty programs,” said Zafin president, Michael Sgroe. “For banks that get loyalty programs right, they develop deeper relationships with their customers and increase retention.”
“Loyalty is all about building confidence between the bank and the client,” said Adam Aussenberg, Era World Rewards program manager at CSOB. “This program will help drive increased transaction volumes on payments and cards, as well as increase cross-sell rates and usage of revolving loans.”
The spending-to-points conversion is simple and transparent. For every one Czech koruna (approximately USD $0.05), the customer earns one point. To add additional value for customers, CSOB has partnered with local merchants, where clients receive a bonus-point multiplier for using an Era debit or credit card.
CSOB customers can check their points balance online, or opt to receive notifications by email or SMS. Redeeming points is also simple and convenient with the Era World online catalog. You can read more about how the program works in the most recent edition of the Relationship Banker: Journal of Product and Pricing Lifecycle Management.
“The consumer banking environment is changing quickly,” said Aussenberg. “As our clients’ expectations and behaviours evolve, we need to continue to differentiate ourselves from our competitors in the Czech market.”
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To request an interview with a spokesperson or for more information, please contact:
Communications Director, Zafin
Part of the Československá obchodní banka (CSOB) Group, Era delivers financial services to over two million consumers in the Czech Republic. Despite its widely accessible network of bricks-and-mortar retail locations, including 77 Era financial centres and over 3,200 Postal Savings Bank post office outlets, delivering digital services to its customers is one of Era’s strategic priorities.
Zafin is an award-winning provider of relationship banking software solutions to the financial services industry. As the market leader in relationship banking for Retail, Corporate, Wealth Management and Correspondent Banking, Zafin is transforming the way banks manage products, pricing, loyalty and billing across the entire client relationship.
Our flexible software suite, miRevenue, is a complete Product and Pricing Lifecycle Management (PPLM) platform – a “start-to-finish” view of the way banks bring products to market quickly and easily with a focus on revenue enhancement. For more information, visit www.zafin.com.