Promoting Financial Wellness: Old Mutual on the Let’s Talk Loyalty Podcast

Old Mutual Rewards, the innovative loyalty program from Old Mutual, celebrated its 5th anniversary, marking significant achievements and expansion plans. Brett Cameron, Head of Old Mutual Rewards, recently shared insights into the program's evolution and success on the Let’s Talk Loyalty podcast, hosted by Amanda Cromhout.

About Old Mutual Rewards

Launched to enhance financial well-being, Old Mutual Rewards has successfully attracted over 2 million members and awarded a total of 5 billion points, equivalent to approximately R500 million or $25 million. The program is notably open to all South Africans, not just Old Mutual customers, broadening its impact on financial education and responsibility across the nation.

In both 2023 and 2024, Old Mutual Rewards was recognized as a finalist at the International Loyalty Awards.

Old Mutual and Comarch’s Partnership

Around two years ago, Old Mutual transitioned from a third-party cloud to Comarch’s solutions. Despite Old Mutual being a 180-year-old organization, its loyalty program was only launched in 2018. Brett noted that joining the loyalty space later allowed them to benefit from off-the-shelf loyalty programs, which can be easily purchased, set up, and operated.

The main reason Old Mutual chose Comarch, however, is our leading position in the loyalty market. Comarch’s capabilities to manage multi-country operations (multi-program, single-entity CLM for different countries) enabled Old Mutual to expand into new markets with ease. Comarch acts as an enabler rather than a blocker, offering stable support throughout their long-term cooperation.

Let’s Talk Loyalty

During the podcast, Brett Cameron addressed significant issues such as fraud challenges in loyalty programs and the positive impacts of digitization on user engagement. As the Old Mutual Rewards program becomes more digitized, engagement levels have soared, showing a direct correlation between digital access and active participation.

Furthermore, Brett and Amanda discussed Old Mutual’s expansion into new markets and the crucial role of Comarch’s solutions. Brett shared:

“Comarch system accommodates sort of, I think what they call multi tenants or multi-country type programs. And within the space of a few months, effectively, we were able to get a similar version of the program up and running in the Namibia market. And I think it’s a really exciting milestone.”

Looking ahead, Cameron remains optimistic about the future of Old Mutual Rewards, hinting at more innovative features and potential expansion into other regions.

Curious to learn more about Old Mutual Rewards’ success with Comarch? Tune in to this enlightening episode of Let’s Talk Loyalty.