Banking rewards and loyalty programs form a key marketing tactic for many brands across the financial industry. The these loyalty programs often offer points for credit card purchases, completing various transactions, and engaging with banks through a host of mobile and online channels.
The ubiquitous nature of these marketing initiatives can make competition in this area tough. But one such European loyalty program appears to be outshining the rest.
Aseel Rewards is a loyalty program administered by the Saudi Investment Bank (SAIB), and it has just been named by the Loyalty Awards in London as the "Best Loyalty Program of the Year in Financial Services."
"It is a great honor to be recognized as the best loyalty program in the financial sector in such a prestigious competition,” a SAIB spokesperson said at the awards event. “This award is a result of SAIB's hard work and dedication. By innovative solutions SAIB aims to fulfill and exceed the needs of its customers. As SAIB, we dedicate ourselves to providing the best service and experience to our customers. Hence we position customer loyalty at the heart of it all. This reward proclaims that we are in the right direction."
The award comes after industry peers acknowledged Saudi Investment Bank’s dedication to both innovation and customer experience. Recognized as a “quality alternative to larger institutions,” Saudi Investment Bank has offered an array of sophisticated and customized services and products for nearly four decades.
SAIB’s mission also extends to the high level of convenience and adaptive services that continually evolve to meet customers’ changing needs. These offerings, of course, correspondingly describe the bank’s now award-winning loyalty program.
The rewards program offers all the benefits and services typically provided by most financial institutions. But it goes further. What sets the SAIB apart from the competition is that it places virtually no limits on the type of financial transactions that will earn points.
Furthermore, it also offers additional discounts to members when they use a SAIB credit card or debit card at more than 250 participating retailers.