In today’s saturated banking market, a common challenge persists - most banks look the same to customers. With 42% of consumers struggling to distinguish between financial services brands, it is no wonder that customer retention is in decline.

These pain points reveal a clear opportunity for banks to rise above the competition by building stronger and deeper relationships with their customers through personalised, valuable, and relevant experiences.

A survey by Accenture shows that while customers are satisfied with their banks, this satisfaction often lacks depth. Customers don’t feel fully invested and that’s a problem. According to our Loyalty Landscape research, 1 in 4 consumers have noticed their rewards and benefits being diluted over time, 1 in 5 are frustrated by the limited redemption options, and 15% resent receiving irrelevant benefits and offers.

Banks often struggle to pinpoint exactly what their customers want, but customers are clear. According to a KPMG study, 61% of consumers say it’s extremely important for banks to innovate in rewarding loyalty. This sends a strong message: banks must shift from transactional, points-based rewards toward relationship-based experiences and programmes that foster an emotional connection.

By focusing on personalisation and emotional benefits, banks can build deeper relationships, meet customer demands and drive long-term loyalty. Our Value of Travel Benefits research shows that 62% of customers would consider switching card providers if lifestyle and travel benefits like airport lounge access and fast track were removed. Personalisation is transforming loyalty management across industries, including retail banking. For high-value customers, they want more than just benefits, they seek unique experiences.

AI and machine learning enable banks to gain deeper insights into customer preferences, behaviours and financial needs, making personalisation more relevant and timely. Our research shows that 55% of consumers say personalised offers are the main reason they want to hear from a brand. The challenge is delivering these tailored benefits at scale, without losing relevance.

By creating a unified customer view and using real-time data, banks can deliver personalised rewards seamlessly across digital and physical channels. Collinson supports this through solutions such as SmartInsight™, loyalty management programmes and expert-led data services, helping banks build customer‑centric loyalty strategies that drive emotional engagement and long-term loyalty.

Customers now expect hyper‑personalised, experience‑led rewards that recognise them as individuals and reflect responsible, values‑driven business practices. Raiffeisen Bank demonstrates that banks can create stronger customer connections, deepen loyalty and drive long-term growth by delivering personalised and meaningful rewards.

In today’s saturated banking market, a common challenge persists - most banks look the same to customers. With 42% of consumers struggling to distinguish between financial services brands, it is no wonder that customer retention is in decline.

These pain points reveal a clear opportunity for banks to rise above the competition by building stronger and deeper relationships with their customers through personalised, valuable, and relevant experiences.

A survey by Accenture shows that while customers are satisfied with their banks, this satisfaction often lacks depth. Customers don’t feel fully invested and that’s a problem. According to our Loyalty Landscape research, 1 in 4 consumers have noticed their rewards and benefits being diluted over time, 1 in 5 are frustrated by the limited redemption options, and 15% resent receiving irrelevant benefits and offers.

Banks often struggle to pinpoint exactly what their customers want, but customers are clear. According to a KPMG study, 61% of consumers say it’s extremely important for banks to innovate in rewarding loyalty. This sends a strong message: banks must shift from transactional, points-based rewards toward relationship-based experiences and programmes that foster an emotional connection.

By focusing on personalisation and emotional benefits, banks can build deeper relationships, meet customer demands and drive long-term loyalty. Our Value of Travel Benefits research shows that 62% of customers would consider switching card providers if lifestyle and travel benefits like airport lounge access and fast track were removed. Personalisation is transforming loyalty management across industries, including retail banking. For high-value customers, they want more than just benefits, they seek unique experiences.

AI and machine learning enable banks to gain deeper insights into customer preferences, behaviours and financial needs, making personalisation more relevant and timely. Our research shows that 55% of consumers say personalised offers are the main reason they want to hear from a brand. The challenge is delivering these tailored benefits at scale, without losing relevance.

By creating a unified customer view and using real-time data, banks can deliver personalised rewards seamlessly across digital and physical channels. Collinson supports this through solutions such as SmartInsight™, loyalty management programmes and expert-led data services, helping banks build customer‑centric loyalty strategies that drive emotional engagement and long-term loyalty.

Customers now expect hyper‑personalised, experience‑led rewards that recognise them as individuals and reflect responsible, values‑driven business practices. Raiffeisen Bank demonstrates that banks can create stronger customer connections, deepen loyalty and drive long-term growth by delivering personalised and meaningful rewards.