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Qatar National Bank, the biggest bank in the Middle East and North Africa region, has started to operate its 'Life Rewards' loyalty program, based on Innova's PayFlex Loyalty solution.
Customer loyalty is of critical importance for banks operating in an increasingly competitive market. The Middle East and the North Africa region's biggest bank, Qatar National Bank (QNB), had been looking for a loyalty program that could be personalised for its wide range of customer groups and decided to use Innova's PayFlex Loyalty product, which has proved its success many times in the past.
|Company||Qatar National Bank (QNB)|
QNB's loyalty program has been in action since December 2012 under the name 'Life Rewards' and has helped increase standards and expectations not only in Qatar but also in the wider region. With the Life Rewards bank customers gain points according to the rate they use their bank card for shopping and their use of the bank's products and services. These points can than be spent freely through a wide range of channels.
With the Life Rewards bank customers gain points according to the rate they use their bank card for shopping and their use of the bank's products and services. These points can than be spent freely through a wide range of channels.
Some of the reasons why QNB preferred PayFlex Loyalty are Innova's expertise in loyalty solutions as well as its successful experience in the Turkish banking, retail and telecommunications sectors. QNB aims to encourage its customers to actively participate in the program thanks to PayFlex Loyalty's structure which is able to offer flexible solutions.
QNB currently operates in 25 countries, and is the leader in the region both in terms of equity capital and brand value, with a 40% market share in Qatar. It needed a loyalty program (customer loyalty) that would strengthen its relations with its customers and reflect its leadership in the sector.
Qatar's oldest and first commercial bank, QNB's Life Rewards system now gives it superior content to all other banks' loyalty programs. The system, developed using PayFlex Loyalty infrastructure, is capable of offering clients Life rewards for using many bank services including car or property loans, new credit card applications and salary transfers.
As an alternative to spending the points as cash, with the cross loyalty integrations, points can be transferred as Qatar Airmiles or Otel Nojoom points. Online banking, ATMs, POS terminals, call centres and bank branches can all be used for these tasks. Customers can also learn their points balance via SMS.
Customers with at least one QNB Life Rewards credit card or debit card are automatically entered into the Life Rewards loyalty program (customer loyalty) and start earning points immediately. Customers are not required to pay any fees for the membership, which aims to increase customer satisfaction as well as give the bank a competitive edge. While offering its customers attractive services, QNB is offering the opportunity to increase customers and sales in the shops that participate in the program. In Doing so QNB is also strengthening its links to member businesses.
To encourage customers to use their bank cards and to strengthen their loyalty to the bank with a loyalty program that can offer attractive and dynamic campaigns.