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FINANCIAL SERVICES
THE FINANCIAL SERVICES
DIGITAL AGE
LOYALTY IN A
10 KEY INSIGHTS FOR
LOYALTY PROFESSIONAL
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
OVER THE PAST DECADE OR SO WE HAVE WITNESSED
A DIGITAL TRANSFORMATION TAKE PLACE.
WITH NEW TECHNOLOGY HELPING TO SHIFT
THE DEMANDS OF THE MODERN-DAY CONSUMER,
THE MODERN DAY LOYALTY PROGRAMME MEMBER.
AND OF COURSE,
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY1/16
TO UNDERSTAND THIS MORE, WE
SURVEYED 2,500 MEMBERS OF
BOTH FINANCIAL SERVICES AND
TRAVEL LOYALTY PROGRAMMES.
United
Kingdom
750
United States
1,000
South-East
Asia
500
THE
MIDDLE EAST
250
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY2/16
AND WE'VE SHORTLISTED
TEN OF THE MOST INTERESTING FINANCIAL
SERVICES RELATED STATS AND FACTS...
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY3/16
A LARGE AND RELEVANT BASE
81%OF
OUR RESPONDENTS
...WERE MEMBERS OF A RETAIL BANK
OR CREDIT CARD LOYALTY PROGRAMME.
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY4/16
ONLINE ENGAGEMENT
84%OF
THESE MEMBERS
...PREFER TO ENGAGE ONLINE
WITH THEIR LOYALTY PROGRAMME.
1
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY5/16
MAXIMISE THE ENGAGEMENT OPPORTUNITY
62%
OF MEMBERS
IS OF COURSE IMPORTANT,
IT WAS INTERESTING TO SEE...
WHILST ONLINE ENGAGEMENT
STATING THAT THE ABILITY TO UTILISE
POINTS BOTH ONLINE AND IN-STORE,
WAS ‘IMPORTANT’ OR ‘VERY IMPORTANT’.
2
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY6/16
EARNING THEIR TRUST
70%of members
THEIR PERSONAL DATA TO ANYONE, AS...
WHEN MEMBERS DO ENGAGE,
THEY WON’T HOWEVER JUST BE HANDING OUT
...STATED THAT DATA SECURITY INFLUENCES
THE BRANDS THEY CONSUME WITH.
3
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY7/16
EMBRACING DIGITAL DISRUPTION
62%
OF RESPONDENTS
MEMBERS ARE ALSO EMBRACING
DIGITAL PAYMENT METHODS, WITH...
...HAVING USED PAYPAL
IN THE LAST YEAR.
OR SIMILAR SERVICES.
4
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY8/16
THE DEMAND FOR DIGITAL WALLETS
55%
STATING
DIGITAL WALLETS ARE ALSO TAKING
A MORE PROMINENT PLACE
IN OUR MEMBERS LIVES, WITH...
...THAT THEY ARE USED EITHER DAILY,
OR AT LEAST ONCE A WEEK.
5
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY9/16
SILVER PAYMENTS
79%
SAYING
BABY BOOMERS ARE ALSO PERHAPS
MORE ADVANCED THAN WE THINK, WITH...
...THEY’VE MADE A PAYMENT
ONLINE WITH A PC, OR A LAPTOP.
6
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY10/16
EARNING WHILE SPENDING
52%
OF MEMBERS
BEING ABLE TO EARN CURRENCY
ON THEIR EVERYDAY SPEND
IS ALSO IMPORTANT, AS...
ASPECT OF THE PROGRAMME.
...SAID THAT THIS WAS THEIR FAVOURITE
7
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY11/16
ROOM FOR IMPROVEMENT
WHEN IT COMES TO REWARDS, JUST...
OF THEIR LIFESTYLES AND HOBBIES.
37%
OF MEMBERS
...SAID THAT THEIR PROGRAMME OFFERS
THEM REWARDS THAT ARE REFLECTIVE
8
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY12/16
A WIDER RANGE OF REWARDS
63%OF MEMBERS
...STATED THAT THEY WANT
A WIDER RANGE OF OFFERS AND REWARDS
IN THEIR PROGRAMME.
9
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY13/16
BURNING DRIVES EARNING
64%OF MEMBERS
AND FINALLY NON-CORE REWARDS HAVE A POSITIVE
PRODUCTS WITH THE SAME BRAND.
OVERALL EXPERIENCE ON YOUR BRAND, WITH...
...WHO HAD REDEEMED THEIR POINTS/MILES
ON NON-CORE INVENTORY SAYING THEY
WENT ON TO BUY CORE INVENTORY
10
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY14/16
INTERESTED TO KNOW MORE?
Collinsonlatitude.com C_Latitude #DigitalLoyalty
More innovation, more connectivity, more
choice: the demands of the modern-day
programme member
A COLLINSON GROUP COMPANY
COMMERCE
IN A DIGITAL AGE
LOYALTY
IN A DIGITAL AGE EBOOK BELOW...
AT OUR NEW LOYALTY COMMERCE
THEN PLEASE TAKE A LOOK
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY15/16
INTERESTED TO KNOW MORE?
And if you’d like to talk directly with one of the team, please email us on:
Or, to share, please click on one of the links below:
eBook@collinsonlatitude.com
Collinsonlatitude.com C_Latitude #DigitalLoyalty
FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
A COLLINSON GROUP COMPANY16/16

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Financial services in a digital age

  • 1. FINANCIAL SERVICES THE FINANCIAL SERVICES DIGITAL AGE LOYALTY IN A 10 KEY INSIGHTS FOR LOYALTY PROFESSIONAL FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE
  • 2. OVER THE PAST DECADE OR SO WE HAVE WITNESSED A DIGITAL TRANSFORMATION TAKE PLACE. WITH NEW TECHNOLOGY HELPING TO SHIFT THE DEMANDS OF THE MODERN-DAY CONSUMER, THE MODERN DAY LOYALTY PROGRAMME MEMBER. AND OF COURSE, FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY1/16
  • 3. TO UNDERSTAND THIS MORE, WE SURVEYED 2,500 MEMBERS OF BOTH FINANCIAL SERVICES AND TRAVEL LOYALTY PROGRAMMES. United Kingdom 750 United States 1,000 South-East Asia 500 THE MIDDLE EAST 250 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY2/16
  • 4. AND WE'VE SHORTLISTED TEN OF THE MOST INTERESTING FINANCIAL SERVICES RELATED STATS AND FACTS... FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY3/16
  • 5. A LARGE AND RELEVANT BASE 81%OF OUR RESPONDENTS ...WERE MEMBERS OF A RETAIL BANK OR CREDIT CARD LOYALTY PROGRAMME. FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY4/16
  • 6. ONLINE ENGAGEMENT 84%OF THESE MEMBERS ...PREFER TO ENGAGE ONLINE WITH THEIR LOYALTY PROGRAMME. 1 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY5/16
  • 7. MAXIMISE THE ENGAGEMENT OPPORTUNITY 62% OF MEMBERS IS OF COURSE IMPORTANT, IT WAS INTERESTING TO SEE... WHILST ONLINE ENGAGEMENT STATING THAT THE ABILITY TO UTILISE POINTS BOTH ONLINE AND IN-STORE, WAS ‘IMPORTANT’ OR ‘VERY IMPORTANT’. 2 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY6/16
  • 8. EARNING THEIR TRUST 70%of members THEIR PERSONAL DATA TO ANYONE, AS... WHEN MEMBERS DO ENGAGE, THEY WON’T HOWEVER JUST BE HANDING OUT ...STATED THAT DATA SECURITY INFLUENCES THE BRANDS THEY CONSUME WITH. 3 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY7/16
  • 9. EMBRACING DIGITAL DISRUPTION 62% OF RESPONDENTS MEMBERS ARE ALSO EMBRACING DIGITAL PAYMENT METHODS, WITH... ...HAVING USED PAYPAL IN THE LAST YEAR. OR SIMILAR SERVICES. 4 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY8/16
  • 10. THE DEMAND FOR DIGITAL WALLETS 55% STATING DIGITAL WALLETS ARE ALSO TAKING A MORE PROMINENT PLACE IN OUR MEMBERS LIVES, WITH... ...THAT THEY ARE USED EITHER DAILY, OR AT LEAST ONCE A WEEK. 5 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY9/16
  • 11. SILVER PAYMENTS 79% SAYING BABY BOOMERS ARE ALSO PERHAPS MORE ADVANCED THAN WE THINK, WITH... ...THEY’VE MADE A PAYMENT ONLINE WITH A PC, OR A LAPTOP. 6 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY10/16
  • 12. EARNING WHILE SPENDING 52% OF MEMBERS BEING ABLE TO EARN CURRENCY ON THEIR EVERYDAY SPEND IS ALSO IMPORTANT, AS... ASPECT OF THE PROGRAMME. ...SAID THAT THIS WAS THEIR FAVOURITE 7 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY11/16
  • 13. ROOM FOR IMPROVEMENT WHEN IT COMES TO REWARDS, JUST... OF THEIR LIFESTYLES AND HOBBIES. 37% OF MEMBERS ...SAID THAT THEIR PROGRAMME OFFERS THEM REWARDS THAT ARE REFLECTIVE 8 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY12/16
  • 14. A WIDER RANGE OF REWARDS 63%OF MEMBERS ...STATED THAT THEY WANT A WIDER RANGE OF OFFERS AND REWARDS IN THEIR PROGRAMME. 9 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY13/16
  • 15. BURNING DRIVES EARNING 64%OF MEMBERS AND FINALLY NON-CORE REWARDS HAVE A POSITIVE PRODUCTS WITH THE SAME BRAND. OVERALL EXPERIENCE ON YOUR BRAND, WITH... ...WHO HAD REDEEMED THEIR POINTS/MILES ON NON-CORE INVENTORY SAYING THEY WENT ON TO BUY CORE INVENTORY 10 FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY14/16
  • 16. INTERESTED TO KNOW MORE? Collinsonlatitude.com C_Latitude #DigitalLoyalty More innovation, more connectivity, more choice: the demands of the modern-day programme member A COLLINSON GROUP COMPANY COMMERCE IN A DIGITAL AGE LOYALTY IN A DIGITAL AGE EBOOK BELOW... AT OUR NEW LOYALTY COMMERCE THEN PLEASE TAKE A LOOK FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY15/16
  • 17. INTERESTED TO KNOW MORE? And if you’d like to talk directly with one of the team, please email us on: Or, to share, please click on one of the links below: eBook@collinsonlatitude.com Collinsonlatitude.com C_Latitude #DigitalLoyalty FINANCIAL SERVICES LOYALTY IN A DIGITAL AGE A COLLINSON GROUP COMPANY16/16