How Financial Institutions Build Customer Loyalty

Expectations from customer loyalty rewards are seeing a massive shift today: customers are no longer satisfied with just receiving cashbacks or coupons, they want an emotional experience.

- 

BANKING TECHNOLOGY

“We are seeing a real change in what the younger generations expect from brands today. It is moving away from the tangible rewards, which is what we previously associate loyalty with, to more emotional, experiential benefits (for instance, travel experiences),” James Ellis, Vice President, Business Development, Asia Pacific, Collinson, told attendees of the Asian Banking & Finance Manila Forum held at Shangri-La The Fort.

“This is also aligned to their social media use where they share their life moments and or experiences through channels such as TikTok and Instagram,” Ellis said.