10/09/2019 Banking Innovation


Reinforcing the Bank’s “Make Life Simple” brand value

Innovation presentation

Disrupting the Loyalty Program

"Krungsri GIFT” is raising the bar on customer loyalty programs by creating omnichannel experiences, leveraging data-driven approach to offer almost instant rewards. By diving deep into customers’ data, Krungsri uncovered a trigger to convert occasional users to be main bank customers by encouraging users to complete four types of the transaction: deposits, withdrawals, transfers, and payments with rewards to be offered instantly without the need to accumulate points for redemption. In short, completing the four types of the transaction is the key to convert occasional users to be main bank customers. These insights were used to conceptualize the program's reward mechanism. Rewards are offered in almost real-time to customers who complete four types of financial transaction within the same calendar month across all customer touchpoints. This is an innovation given the fact that rewards are offered. It is easy to understand, transact, and redeem.

Uniqueness of the project

Krungsri GIFT as a mean to attract new and younger customers

Krungsri GIFT also aims to bring in younger customers. To do so, a series of communication campaigns under an emotional theme of “A gift from the heart” was created. Direct marketing, online marketing, and online to offline marketing activities were implemented to inform customers.

One prominent campaign was a music video marketing featuring the most popular musical artist of the year. The music video, which embedded the Krungsri GIFT concept into the story, had reached over 10 million views within one month (Link to the music video). A special charity concert was also held as part of an exclusive privilege using Krungsri GIFT for ticket redemption. This helped raise Krungsri GIFT awareness through both online and offline media channels.

Krungsri GIFT also offered a specific gift for each customer segment through online and CRM campaigns. “Krungsri GIFT day” was also held at selected stores and POS to boost awareness and promote engagement from mass customers.

In-Depth Analysis

The Reason Behind

Reinforcing the Bank’s “Make Life Simple” brand value

Krungsri carries the passion for simplicity into every facet of their business execution. This includes Krungsri GIFT, Krungsri conducted multiple customer research projects to understand the customers journey and discovered the upward trend in mobile banking-customers like to engage with a bank in a simple, seamless, and personalized way.

With a “Customer Centric” approach, Krungsri GIFT requires the least effort from customers to participate and gain rewards. The loyalty campaign mechanisms reflect being easy to understand concept. The collection and redemption channel indicate being easy to transact and easy to redeem. Transaction counted automatically for gifts can be made through any banking channel: branches, ATMs, Internet, or mobile, in contrast to other loyalty campaigns. Customers can also choose to redeem benefits through Krungsri Mobile Application (KMA) or SMS redemption on a regular mobile phone.


Increase number of customers completing four types of transaction by 53%

Delving into customer data, Krungsri discovered that main bank customers commonly completed four types of transaction on a monthly basis: deposits, withdrawals, transfers, and payments. These customer insights were used as part of the reward mechanism. Since the program has launched, the number of customers who completed the four types of transaction surged by 53% (or 53 points over the base data as of March 2018).

Increase number of active users on the digital channel by 55%

Through Krungsri GIFT, the bank has successfully encouraged customers to be on the digital platform. The number of active users on the digital channel also grew by 55% in the year since the program launched, indicating the success of Krungsri GIFT as a strategic program to sustain business growth and enrich the digital customer experience.

Key Dates

  • Launch date 1 March 2018

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

22/02/2024 Insurance Innovation

Master Actuary: AI For Actuaries

A new green pricing era ? : Master Actuary is so powerful that it can assess driver risk based on...

21/02/2024 Insurance Innovation


SightBit is an Israeli company specializing in autonomous artificial intelligence systems for detecting and predicting hazards in open waters. SightBit’s...

15/02/2024 Insurance Innovation

An expert weather model for a fast and efficient claims management

To simplify the management of weather-related claims, Société Générale Assurances has integrated a solution that enables its claims handlers to...

23/01/2024 Insurance Innovation

Sherpa.ai Federated Learning Platform

Sherpa.ai is the first Federated Learning platform that allows companies to gather the full potential of the Artificial Intelligence by...

Related news & insights

Digital Reinvention
16/02/2024 Interview

NewTech Friday: ToumAI Analytics – Ensuring no voice goes unheard

ToumAI is on a mission to elevate African languages and insights, using advanced analytics to bridge the linguistic gap. The...

25/01/2024 Video

ESG data strategies: Insights and best practices

Nicolas Renous, Director of Risk & Sustainability at TNP Consultants, imparts valuable lessons and tips regarding ESG data.

24/01/2024 Video

Unveiling the OeKB ESG Data Hub

Nastassja Cernko, Director of Sustainability, Project Analysis, and Strategy at Österreichische Kontrollbank, introduces the OeKB ESG Data Hub—an Austrian platform...

07/01/2024 News

AI FOR PET unveils enhanced pet healthcare solution

The company introduces a seamless data-sharing solution, reinforcing the connection between pet parents and veterinarians.