Comarch Loyalty Marketing Platform for NedbankBanking on customer loyalty in the finance sector
Nedbank is one of the four largest banks in South Africa, with subsidiaries operating in Lesotho, Mozambique, Namibia, Eswatini (Swaziland), and Zimbabwe. Its ordinary shares have been listed on JSE Limited since 1969. With a primary focus on comprehensive wholesale and retail banking services, Nedbank also offers solutions such as insurance and asset & wealth management.
employees
clients
assets under management
digitally active clients
Nedbanks’ Greenbacks loyalty program has been operating for almost two decades. Although the initiative reported significant success and was very popular among the bank’s clients, as time went by, Nedbank started to see a rise in challenges related to data security and the program’s competitiveness. By collaborating with Comarch, Nedbank aimed to provide its customers with more value, all the while increasing their engagement with the program and turning that engagement into tangible financial results.
To help Nedbank boost its program engagement, Comarch’s loyalty experts had to think outside of the box. The main challenge was the uniqueness of the South African loyalty market, which is different from those in Europe and the U.S. It was also necessary to tailor Comarch’s loyalty management system to meet Nedbank’s specific security requirements.
Thanks to the implementation of the highly flexible Loyalty Marketing Platform, Comarch was able to enrich Greenbacks with:
Comarch Loyalty Marketing served as the backbone of the Greenbacks program, managing points, levels, and transactions to enhance the program's competitiveness. Thanks to this cooperation, the program saw increased membership, higher engagement in earning and redeeming points, better usage of Amex cards, and a higher number of products held per member.
Comarch Loyalty Management is our backend platform. It manages everything with regard to the Greenbacks program in terms of points, levels, earnings, and burns. It really is the backbone of our rewards program at Nedbank right now. Thanks to the cooperation with Comarch, we’ve seen a significant boost in customer engagement and membership. Overall, it’s been really successful from Nedbank’s perspective.”
Dharmesh Bhana,
Executive, Loyalty, and Rewards at Nedbank
