National Payment Corporation of India (NPCI) has launched ‘nth Rewards’, a business intelligence and analytics enabled omni-channel multi-branded loyalty platform. This platform enables users to earn ‘nth’ (denoting infinite possibilities) points through various bank transactions and redeem them instantly on various products, such as e-vouchers, donations, hotel and flight bookings.
- The platform aims to become a one stop shop for the bank which will enable them to retain and grow their customer base.
Key Info
i.The integration of nth Rewards with the banking system is seamless and is secured with PCI-DSS compliance and APIs, with an onboarding time of 4 to 6 weeks.
ii.The platform can then be integrated into any existing website or app which reduces the market time without changing the customer’s experience. It also helps banks to minimize the cost
4 Key Pillars of nth Rewards to provide a new way of loyalty rewards to the customers
Loyalty engine– It is considered to be the heart of the platform. It allows consumers to earn points from various transactions across all the digital transactions of the bank.
Analytics & Business Intelligence– It provides real-time access to product portfolio and campaign performance.
Offers & Rewards platform– It will curate customer-specific offers that reaches them at the right time and right place with geo-tagged marketing
Campaign manager– It will enable real time communication to consumers through SMS and email. It provides banks a user-friendly omni-channel campaign module that can easily be created, designed and implemented.
Recent Related News:
i.YES Bank Launches a Digital Solution, ‘Loan in Seconds’ for Instant Disbursement of Retail Loans.
ii.Swiggy in Partnership with ICICI Bank Launches an Industry- First Instant Digital Wallet, ‘Swiggy Money’.
About NPCI:
Head Office– Mumbai, Maharashtra
Managing Director(MD) & Chief Executive Officer(CEO)– Dilip Asbe
