African Bank has introduced a new loyalty program called Audacious Rewards, with the primary objective of enhancing the financial well-being of its customers. The bank aims to incentivize positive financial behavior, including assisting customers in improving their credit scores.
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GLOAfrican Bank has introduced a new loyalty program called Audacious Rewards, with the primary objective of enhancing the financial well-being of its customers. The bank aims to incentivize positive financial behavior, including assisting customers in improving their credit scores.
The loyalty program, custom-built for all African Bank customers, allows members to earn and redeem loyalty points through a network of partners, covering everyday purchases like groceries and mobile data/airtime.
To enhance its financial offerings, African Bank has adopted an open architecture approach and partnered with Loylogic, a specialist in loyalty and engagement solutions, and Pinnacle Rewards, a loyalty marketing business. These partnerships will enable the bank to accurately measure the impact of Audacious Rewards on its business and bring loyalty metrics to the boardroom.
Darryl Adriaanzen, African Bank’s group executive of operations, emphasized the value of every customer and expressed excitement about the program’s benefits for them. The launch of Audacious Rewards aligns with the bank’s transformation strategy called Excelerate25, which aims to leverage its heritage, diversify its business, and create a customer-centric, data-driven, scalable, and digital-first approach.
Currently, Audacious Rewards is available to African Bank customers with a transactional MyWORLD account. The bank plans to fully roll out the program later this year, featuring an extensive rewards catalogue and incentives for positive financial behavior.
During the full rollout, Loylogic’s e-commerce platform, Pointshub, will be integrated into the system, and there are further plans for the bank to adopt Loylogic’s e-payment platform, Pointspay, in 2023.
Gabi Kool, chief commercial officer at Loylogic, expressed pride in partnering with African Bank and Pinnacle Rewards to create a unique loyalty program that focuses on inclusivity while promoting financial well-being.
