Creating Next-Gen Loyalty in Financial Services

Marketing Team Author Icon
Marketing Team
07 Oct 2024
Collinson shares insights on how financial services brands can create next-gen customer loyalty

In today's rapidly evolving financial landscape, customer loyalty and engagement are pivotal in driving growth and maintaining a competitive edge. The financial services sector is witnessing significant shifts driven by technological advancements, evolving consumer expectations, and disruptive competitors.  

Creating next-gen consumer loyalty and engagement requires financial services brands to focus on their most valuable customers and provide them with the right products and benefits to earn their loyalty, thereby driving positive NPS and superior commercial results. Integrating travel and airport-related benefits and experiences—such as airport lounge access, security fast track, airport transfers, dining and duty-free offers —into customer engagement and loyalty programmes have emerged as a powerful tool to enhance customer satisfaction and differentiate offerings globally.  

In collaboration with The Asian Banker (TAB), Collinson International, owner and operator of Priority Pass, recently brought together esteemed guests from both the financial services and travel sectors in Taiwan to network, share and learn from some of the leading voices in the banking and financial services sector in the region.  

The evening started off with Foo Boon Ping, President and Managing Editor of TAB, giving a welcome address that provided more insights towards the headwinds and tailwinds in Taiwan’s financial services sector. Christian Kapfer, Research Director at TABInsights, then shared findings on the evolving consumer preferences and expectations towards credit cards and its benefits.  

Further bolstering the evening’s thought leadership, Rohan Bhalla, Collinson International’s Vice President of Business Solutions for Asia Pacific, delivered a keynote presentation where he revealed insights on how brands can harness the power of travel to enhance their customer engagement propositions, in turn driving acquisition, retention, and usage. 

Key takeaways from the event include: 

  • With travel being a priority for consumers, developing a strong travel-led customer value proposition is crucial to attract and retain customers.  

  • Travel rewards are becoming strong motivators for cardholders, and can help drive acquisition, retention and usage. According to Collinson International’s 2024 Travel Benefits and Customer Engagement report, 92% of credit card holders in Asia Pacific say that travel-related rewards encourage usage for both travel and everyday spend. 

  • Travel rewards that resonate the most with consumers in Asia Pacific include access to airport lounges, security fast track and airport transfers.  

Contact us to learn how Collinson International can support your organisation in creating next-gen customer engagement programmes to engage with your most valued customers more effectively.

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