Campaign and Loyalty to Drive Customer Retention for a Commercial Bank in UAE
How customers interact with financial services is undergoing a revolution. The new wave of Open Banking, Open Finance, and Open API, is driving endless possibilities toward a truly open-gamified ecosystem. Corporate banks are competing due to the rise of fintech startups and new disruptive technologies, and achieving performance targets is becoming a challenge for many banks because there are so many stakeholders involved. Gamification and loyalty can help banks build products that align with their goals and retain consumers. With MAGIK, a complete Customer Value Management platform with Loyalty and Gamification, we deployed key modules like gamification, loyalty, campaign management, merchant management, coupons, and reward management. It not just helped the bank enhance the customer experience and engagement but also helped them increase customer transactions as a whole, provided corporate businesses are a high-value, relationship-oriented customer segment.