Comarch Drives Redesign of Nedbank’s Loyalty Program, Greenbacks

Kraków, Poland, April 18, 2024 — Building upon many years of their partnership, Comarch, a global provider of advanced IT systems and services, has worked with South African Nedbank to enhance and modernize its longstanding loyalty program, Greenbacks. The update introduces an expanded list of objectives and rewards for Nedbank's customers.

After nearly two decades of successful operation, the flexibility of Comarch Loyalty Marketing came into play, allowing Greenbacks to transform itself into the new 2.0 version. While some aspects have remained consistent, such as redemption methods, major changes now involve tiered rewards tied to Nedbank accounts:

• Main-Banked Goal: Customers who transfer income payments, set up two debit orders, and utilize digital channels receive Greenbacks rewards and lower bank fees.
• Card Swiper Goal: This level requires clients to swipe their cards three times a month or accumulate R5,000 in purchases.
• Structured Saver Goal: Achieving this level entails increasing savings by R3,000 within three months or maintaining a R100,000 monthly balance in the Nedbank account.
• Responsible Borrower Goal: Qualification involves making timely loan or overdraft installment payments for Nedbank debts.
• Bonus Booster Goal: Additional Greenbacks rewards become accessible when clients complete three monthly digital transactions beyond the Main-Banked Goal requirements.

As participants reach higher tiers, they will accumulate points faster, earning up to 2% of total spending in Greenbacks at the peak level.

According to Dharmesh Bhana, Executive, Loyalty and Rewards at Nedbank, “It’s the first time Nedbank rewards clients in one place for a wide range of better money choices. Clients are rewarded for saving, banking safely and conveniently on our App, staying up to date on credit products, paying safely on your Nedbank card. For the first time at Nedbank, in one place, what’s good for your financial health, is good for your rewards.”

About Nedbank

Established in South Africa, Nedbank Group ranks among the country's four largest banks, catering to over seven million clients worldwide. Providing comprehensive wholesale and retail banking services, Nedbank has branched out into areas including insurance, asset management, and wealth management.