Retail banking trend #4: Give back to people

Efma feature

10 July 2019

FinTech is seemingly everywhere – from chatbots proactively engaging customers with sales proposals to new, algorithm-based personal financial management tools. However, as we reviewed 2018’s Efma- Accenture Banking Award submissions, we were struck not so much by the prevalence of FinTech as by what we have termed “The Return of the Human Element.”


Give back to people

Banks are finding that rewarding customer loyalty with useful and relevant benefits (in addition to functional, bank-specific awards) reinforces the brand and builds kinship between the bank and its customers. Rather than just rewarding consumption, new kinds of loyalty programs reward interactions between the bank and the customer and stress both tangible and emotional benefits related to the things that customers value most.

In a country with a very high percentage of children using tutoring services, France’s La Banque Postale rewards parents with a free subscription to one of the best online tutoring services. This also helps to get the “customers of tomorrow” engaged with La Banque Postale.

TEB, serving farmers in Turkey, provides a tailored weather information service to build loyalty among these SME customers and help them create sustainable agricultural businesses.

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Submit your innovative initiatives for the Efma-Accenture Customer Insight & Growth Banking Awards 2019. Participation is free of charge and open to all banks whether they are Efma members or not.

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Keywords : Customer loyalty

Geography : International