Wüstenrot Bank in loyalty programme pilot
Written by Scott Thompson
Red Zebra Analytics has launched a cash-back loyalty programme for retail banks. Customers will receive offers via their online banking portal and redeem them by paying with their debit or credit card. The programme is currently being trialled by Wüstenrot Bank in Germany. It brings together consumers, banks and retailers, with targeted rewards based on spending patterns. When customers log in to their online bank or credit card accounts, they are presented with various cash-back offers. If they see an offer they like, they click to accept it. They can pay with their bank’s debit or credit card. Discounts are awarded in the form of cash payments once a month.
“With our innovative programme banks can build closer relationships with their customers by providing them with offers that they actually want,” says Attul Sehgal, co-founder and CEO, Red Zebra Analytics. “Retailers can create highly targeted marketing campaigns quicker than ever before, with no need for extra staff training or backroom administration. And of course, customers get money-saving deals that are relevant to them and simple to activate. Once opted in, you go shopping, simply pay with your card and you get cash-back on your bank statement.”
Once sufficient transaction data is generated from the pilot project, Wüstenrot and Red Zebra Analytics will begin to target retailers. VVS-Group – a German merchant loyalty provider – is working with the two companies to identify and deliver the most attractive retailer categories for customers.