Next-Generation Rewards: Changing the Consumer Engagement and Revenue Generation Paradigm By Andrés Peña, VP of Alliance & Channel Development, Buzz Points ® May 25, 2017

Technology Solutions come in two flavors: Commoditized, traditional services New generation of innovative, differentiating services

What’s my best customer experience anywhere?

The point of departure for addressing this new customer service expectation is technology

Commoditized, Traditional Services: Can be dated and rigid Don’t reinforce community focus Lack integrated marking support Fail to deliver on ROI promises Not designed for millennials High training and support costs Do not enhance local brand Fail to engage members

The new generation of technology services: Context and Relevance Instant Access to the benefits of being a member Increased revenue and profitability Ability to co-exist with the Commoditized, Traditional platforms

Let’s look at how these apply specifically to credit unions.

Context and Relevance

Instant access to the benefits of being a member

Increased revenue and profitability

Ability to co-exist with the commoditized, traditional platforms

How do you begin? You look to the customer as your guide to innovation

Mobile check deposit and robo-tellers aren’t all the innovation you need.

Contextualized interactions

Seamless omni-channel experience—anywhere, any time

Transparency

Access to peer review and advocacy

Product innovation is driving loyalty programs today

Leveraging data analysis for customized experiences

Technology innovations for loyalty programs include: Frictionless reward redemption, with cash back to consumers Card-linked offers or redemptions at the moment of truth In-the-moment service across channels: message, mobile, social

Innovative loyalty programs for CUs also: Incentivize desired behavior Gamify experiences Prevent commoditization Differentiate from mega-banks Have an impact on every aspect of the Customer Lifecycle

Unique differentiator for CUs: Local focus and community relationships

Loyalty programs can deepen community relationships

With the right loyalty program, the future is here: CUs engage customers digitally CUs generate additional non-interest income and deepen relationships with both customers and local businesses CUs can open the door to more commercial account acquisitions Reward customers for keeping money in their communities Provide local businesses customized marketing support and increased sales from community members Offer analytic insights for future business decision making

Any questions?