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MasterCard's new MasterCard Dependency Reward Programme allows merchants to create reward programmes that are unmatched by their own brand and more efficiently cross-seler private customer banking and lending businesses. The mature underlying technologies of the new programme make it easy to process a number of different items for smooth evaluation, tracing and fulfilment of awards.
"Banks are looking for ways to improve cross-selling and customer engagement, and an unprecedented reward scheme such as MasterCard's customer relationships reward is a key component of this strategy," said Patricia Preston, Group Head, Debit Product Management Americas, MasterCard Worldwide. "MasterCard is helping our clients create programmes that are more responsive to the diverse interests and tastes of their clients and increase their proportion of total revenues from our business by providing relationship-based compensation.
" Mr Preston said that the company's in-house research shows that customers choose to be recognised and rewarded for their overall relationships with a bank, and that MasterCard works to help finance institutes expand their overall bank relationships. From the beginning of 2007, MasterCard will be offering reward programmes for relationships. It is possible for a bank to adapt a program to any required extent.
Remunerations can be accrued on deposits or investments balance, number of items purchased, transaction items such as ticket purchase, on-line invoice payments, instant deposits and one-off advertising activities such as mortgages or HELOC applications or releases. In addition, private and small businesses product awards can be combined so that clients have a single, unified reward base from which they can take full benefit of everything from cashback, trip and present vouchers, to appropriate premiums and experience awards.
Banking organizations that need to create a relational reward case can take full benefit of best practice best practice such as finance modelling, competitor analytics, cross-sell and productivity diagnostics as a front-end to the programme. Programme styling, market campaigns scheduling, on-going programme stewardship, results monitoring and analytics are further elements of the MasterCard relationships offer.
"The MasterCard helps to build genuine customer loyalties by providing a stronger link to build supporters, not just redemvers," said Mark Shipley, Group Head, Royalty Solution Worldwide, MasterCard Advisors. "Our ongoing commitment is to provide loyal customer service that adds value by fostering genuine customer banking customer loyalties.
The MasterCard is able to do this by providing reward products that are safe, cutting-edge and adaptable with three different elements: reward expert knowledge, extensive spend information and sophisticated technologies. Those very focused programmes can provide the right consumers with the right answers in exchange for the right behaviors - and eventually create consumers' champions for banks' businesses.
" The MasterCard Rewards Services (MRS) re-defines the state of the technology in the area of rewards and features. The MRS is a fully featured, customisable operational hub that can manage several point, trip, redemption, gifts and other incentive schemes. It is backed by a specialist group of MasterCard Advisors advisory advisors who are available to develop and deploy customised programmes tailored to the individual needs of an individual borrower.
Account migrations that can be used for client aggregation effort and advertising strategy; -- Substantial overall cleansing and aggregate information performed to help provide the most agile and precise advertising options available; -- Capability to simply set up the system to include programs/strategies or help deliver spend-based promotions, bonuses, test rooms; -- Multi account budgets; -- Foreign exchange; -- Multi geographic report functions; -- Multi languages and countries call centre and compliance functions, to include testimonial and withdrawal sites; -- -- Multi geographic call centre and compliance functions; -- Multi languages and countries call centre and compliance sites; -- -- Multi geographic call centre and compliance functions, to include testimonial and withdrawal sites; -- Multi geographic call centre and compliance functions; -- Multi geographic call centre and compliance functions; -- Multi geographic call centre and compliance functions; -- Multi geographic call centre and compliance functions; -- Multi geographic call centre and call centre functions; -- Multi geographic call centres; and multi geographic call centres; and multi geographic call centres; and multi geographic call centres
With MRS, you can create promotional and award trophies that include airlines, trips, goods, certificate coupons, pre-paid calling plans, and issuing company sponsored finance programs and offerings. An extract options allows card holders to check credit balance and cash bonuses 24 h a day, also via the web.