Krungsri GIFT Qorus Banking Innovation Awards 2019

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.