Fiserv has enhanced the features and functions of its
Relationship Rewards solution.
Fiserv said that the new version will enable banks that use the
platform to choose how to reward customers.
According to Fiserv, the platform enables banks to identify new
revenue potential as the system enables banks to target particular
customer segments, such as Generation Y and small businesses.
The new solution will have two separately licensed features, one
for using relationship rewards loyalty points and the other one to
let customers choose their type of reward.
With the UChoose Rewards component, banks’ customers will be
able to redeem rewards points for items and services including gift
card, travel, event tickets as well as cash-back via a website.
But customers can also receive premium interest rates, have fees
refunded or get free service on particular services that the bank
usually charges a
The Relationship Rewards solution helps banks monitor customers’
behaviour and identify the customers that are most profitable for
The system analyses customers’ product relationships, balances,
electronic statement delivery, mobile banking, bill payment, direct
deposit, point of sale transactions.
One of the banks that have implemented Fiserv’s Relationship
Rewards solution is US-based Southern Community Bank, who uses
Fiserv’s platform to reward customers if they meet particular
criteria for electronic banking and
debit card usage.