Financial institutions are in a prime position to capitalize on the return of travel thanks to a mature marketplace with 77% of conventional banking customers belonging to 5 or more loyalty programs. Yet many financial services loyalty programs aren’t generating the retention and engagement they could, according to our recent travel loyalty survey, Where travel meets loyalty. Could it be a lack of perceived value from their members and customers? Or a disconnect with the expectations of two growing audiences: Zers and Millennials?
In a recent article for CXBuzz, arrivia’s Chief Experience Officer, Travis Markel explains how financial services brands can leverage travel to increase their share of wallet and keep their cardholders active and spending.