The document proposes a loyalty program management system (LPMS) for banks that allows customers to earn points from transactions that can be redeemed later. The LPMS includes modules for program management, customer management, customer service, reporting, communication, accrual, membership tiers, analytics, payment gateway, and promotion. It would provide customizable programs and analytics to help banks build customer loyalty and retain customers.
2. Elite Mindz Pvt. Ltd
Loyalty Program
"Customer Loyalty is the inclination for an individual to favour a
particular product, brand or service. A loyalty program typically
involves giving customers free merchandise, early access to sales,
products and coupons".
Earn & Burn
Bank Provides Loyalty Points which Customer can redeem by
paying through Point Payment of a Loyalty Portal
Key Concept
3. LPMS
There will be a customizable Admin Panel for Banks which
bank will use to customize Loyalty programs
The LPMS constitutes following Modules
Program Management Customer Management
Customer Service Reporting Suite
Communication Engine
Point Payment Gateway
PPG
Accrual Engine
Membership Tier
Management
Analytical Suite
Merchant Aquisition
Platforms
Redemption
Engine
Elite Mindz Pvt. Ltd
Promotion Engine
4. Program Management
Bank Onboard
The Process Starts with the Bank On-boarding. A fully
customized LPMS is designed for a Bank, which can
be operated by the their Admin User, commonly
called as Bank's LPMS Admin Panel
Program Configuration
Redemption Rate
Currency Conversion Rate
Vouchers Rate
This module enables bank to Configure the
following things:
Product Configuration
Debit Cards
Credit Cards
Loans
Salary Accounts
Card Types (Visa/Master)
This module enables bank to Configure it's Products:
In this part of LPMS , there will be modules which are dedicated to
Setup a Loyalty Program for the Bank
Point Matrix
In this module, bank will create a Point Matrix which
will have the Transaction is equal to Poins Earned,
Earned Points Value, Different currency wise Points
worth.
Elite Mindz Pvt. Ltd
5. Customer Management
This module is dedicated to Customer Acquisition on LPMS
The Customer On-boarding is done through uploading
customers' data into LPMS.
This can be done through following ways;
Customer Profile Data (CPD)
This file consists of Customers Personal/account information like
Email/CIN/CRN/Mobile etc. which helps to send Emails to activate
their Loyalty accounts on LAMS.
Customer Relation Data (CRD)
This file consists of Customer's data which tracks the record of
Cards(Debit/Credit) mapped with the Loyalty Account of
Customer.
Bonus File (BNS)
This file contains the amount in terms of points which customer
may get when activates it's loyalty account.
Transaction File (Txn)
This file consists of all the Transactions (Successful/Unsuccessful)
which will be processed further in Accrual Engine.
Elite Mindz Pvt. Ltd
6. Customer Service
This module is used to cater customers requests
if they need any assistance for reward points
This module is also known by names like,
Ticket Management System(TMS) Or
Contact Center. All requests when accepted are
called as Ticket which are resolved.
Reporting Suite
Automatic creation and heads up of reports through reporting engine. The heads up
could vary yearly/monthly/weekly/quarterly.
Types of Reports
Redemption Reports - To analyze the number of redemptions in a given time interval
Expiry reports - The expired loyalty points that have expired till date.
Spoilage reports - The small amount of currency that has not been used.
For example : points of value $4.02 has been used to purchase $4 product and later
these spoilage points .02 are been left and thus get reflected in reports.
A section in the admin dashboard to view the generated reports and predict the
upcoming results.
Why the Reporting suite ?
Elite Mindz Pvt. Ltd
7. Our system would be ready to accept any additional type of accrual engine
along with the distinction in Product level, Spend level & Campaign level
Point matrix - The conversion of transaction currency into points will be
done through point matrix
Bonus awards - Bonus points on every successful completion of milestone
Points are accrued through using mobile apps, ATMs, checking accounts,
and other services
1.
2.
3.
4.
Communication Engine
This module is dedicated to manage communication by
means of sending timely notifications through
Email/SMS to loyalty customers.
Managing templates - The templates could be customized and later can
be shared with the user through SMS and Email gateway.
View SMS and Email report - A functionality to show and view all the
reports of the SMS and emails shared with the users
1.
2.
Accrual Engine
FPR - File Processor Robot
This service is largely used when Loyalty System gets customers data from
Banks which is further processed and converts the successful transaction
into reward points.
ETL - Extract, Transform, Load
ETL is used to migrate data from one database to another. This service
comes in use when Bank can't access customers data in a format which
can be read by LPMS
Elite Mindz Pvt. Ltd
8. Credit card - The user who earned points through credit card could be
treated as a member of diamond group and being in this group can give user
some extra reward than normal .
Debit Card - Similarly, the user who earned points through debit card could
lie in Gold group and get some benefits less than the diamond group.
The membership could be Silver/Gold/Platinum and will be called as LE
customers. Their redemption rate will vary from the Usual Loyalty
customers.
Limited Edition (LE) customers will have early access to Prime offers.
Benefits of customers can vary depending upon the product which could be as
follows :
1.
2.
3.
4.
We try to onboard the best merchant who could facilitate our client in the best
possible way.The onboarding of the merchant will be done by keeping the
following aspects into consideration
1. Accepts CPP vouchers - Whenever the user is rewarded with any voucher
then the same should be accepted by our partner
2. View Reports - Reports showing the increase in sales and a showing reports of
a particular interval will also be downloadable
3. Listing of existing merchants - All the merchants can be listed on the admin
dashboard
Membership Tier Management
Analytics suite
In analytical suite we provide tools and CRM solution
which helps in keeping a record of all the users data
and an analysis report of all their past transactions
Merchant Onboarding
Elite Mindz Pvt. Ltd
9. Points Payment Gateway/PPG
Travel (Airlines/Cruise/Trains etc)
Holidays Package
E-Marketplace (E-com websites )
Utility Bills (Prepaid/Postpaid mobile/Electricity etc.
There will be a standalone Payment Gateway which will be specifically
designed for Loyalty Program. This will be integrated at Bank's Loyalty Shop
or other merchant's portals.
This PPG can be integrated at different redemption partners like;
SSO Login
Single Sign On login refers to when a user logs in to an application with a single
set of credentials and then is automatically signed in into multiple applications.
A very popular example of SSO login is Google's implementation for their
software products. Once a user is logged in to Gmail, the user automatically
gains access to YouTube, Google Drive, Google Photos, and other Google
products.
Elite Mindz Pvt. Ltd
POS network for instant
point redemption
The system will be made highly scalable and robust so as to drive
transactions through various channels like POS, ATM, internet
As it would be a Omni-Channel Loyalty program, so with the help of pre build
POS integration the points earned by the user can be earned online and
redeemed offline or vice versa.
10. Promotion Engine
This module is used to create timely
promotion for customer engagement
Weekly Offers
First Successful Transaction bonus
End of Season Sale
Happy Hours
Special offers for LE customers
Lightning Deals etc.
The LPMS, would be capable of creating Promotion for example:
1.
2.
3.
4.
5.
6.
Wallet Management
The LPMS system would be capable to
Manage Wallets.
User would be able to see reward points into the
Loyalty Mobile App wallet
There would be Wallet Management module in the
LPMS system's admin.
Elite Mindz Pvt. Ltd
11. Gamification
Inclusion of gamification in our loyalty program is something we are
ready for. Through gamification we can induce a feeling of joy by
allowing customers to play games and earn points. The customer can
play games and earn vouchers both at the same time. Hence boosting
the on portal sales.
Points to Mile
As it would be a Omni-Channel Loyalty program, so with the help of pre
build POS integration the points earned by the user can be earned
online and redeemed offline or vice versa
Elite Mindz Pvt. Ltd
12. Elite Mindz Pvt. Ltd
Marketing Automation and
Analytical tools
Regular boost of the marketing strategies is important in loyalty
programs. Moreover, the ROI (return of investment) is majorly
dependent on proper aligned plans on marketing. The measurement
and analysis of the reports will be something that will be present in our
system so as to have maximum efficiency
Thank You
