Over the past decade, we have seen a major change in consumer behaviour driven by the continued transformation in digital technology. Tech-savvy loyalty programme members expectations from financial services brands continue to increase, so understanding their needs and requirements is crucial.
To help with this, we surveyed 2,500 loyalty programme members across the globe to find out how these advancements have impacted member behaviour and we’ve produced a short SlideShare with ten of the most compelling findings.
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
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
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