Raiffeisen Bank
Driving loyalty & growth
Comprehensive ecosystem to drive loyalty & growth. Raiffeisen Bank rolls out Finshape-powered loyalty ecosystem, reaps rewards in new business.
Balance sheet total
€12,529 million
Customer base
2.300.000
Market position
No. 3 by loans
The challenge:
Enhancing Customer Engagement through Personalization
Raiffeisen Bank Romania aimed to boost customer engagement and drive sales through personalized offers and a robust loyalty program.
The challenge was to integrate three key components seamlessly:
Raiffeisen's core banking infrastructure, Finshape's personalization and data analytics engine, and Collinson's loyalty platform.
The objective was to create a frictionless ecosystem capable of delivering hyper-relevant offers triggered by real-time transaction data and customer events.
The solution:
Integrating Advanced Analytics and Real-Time Data
To address this challenge, Raiffeisen Bank Romania launched Smart Market, an app-based rewards program, leveraging Finshape's data analytics engine and Collinson's loyalty platform.
The solution entailed ensuring seamless integration between the core banking system, the personalization engine, and the loyalty platform. Advanced analytics were utilized to provide highly personalized offers based on real-time transaction data. Engagement strategies, including push notifications, geolocation features, and gamification campaigns, were implemented to increase user engagement.
The solution also included green initiatives, such as a carbon footprint tracker and green offers from eco-friendly merchants, and custom campaigns tailored to various financial products like personal loans and mortgages to drive revenue generation.
The result:
Significant Growth and High Engagement
The implementation strategy was divided into two phases. Phase one focused on raising awareness about the app's benefits and increasing user engagement. Phase two centered on revenue generation through personalized offers for banking products.
The Smart Market loyalty program was launched in April 2022 and quickly demonstrated significant success. The app attracted over 700,000 users, with one in four being new customers who opened an account through a fast and seamless digital onboarding process.
High engagement rates were achieved, with 70,000 new users per month and an App Store rating of 4.8 out of 5. The program saw over 140 new merchant partners join, enhancing the variety of offers available to users.
Over 4,200 sustainable campaigns were launched, and more than 5,000 trees were planted as part of the green initiatives. The program received international and local accolades, including being voted the 'Product of the Year 2024' in the Loyalty Financial Apps category.
Impact in Numbers
700.000
New Users
4.8
App Store Rating
140.000
New Partners
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