Financial Services Loyalty: Perspective From the Frontlines of COVID-19

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By: Wise Marketer Staff |

Posted on April 28, 2020

We are 6 weeks and counting on the American journey with COVID-19. The impact on business is acute and few have escaped impact from the economic dominoes that have fallen over these past few weeks.

Every industry and every sector of consumer marketing has been impacted by the COVID-19 outbreak. We have been hearing lots of news from the restaurant, convenience, airline, and hospitality sectors and each has a unique set of challenges to address. Underpinning all commerce is the payments industry. The banks and credit unions that issue payment cards and operate card rewards programs are also affected as the economy slows due to requirements on consumers to shelter at home and limit activities. 

We had not heard enough from executives on the front lines of the financial services loyalty sector and so we connected with Mike Knoop, CEO ampliFI Loyalty Solutions and Mike Moss, Chief Product Officer, for a discussion about their experiences to this point in the crisis, changes they are making in the card loyalty programs they operate for clients, and what the future might hold. ampliFI Loyalty Solutions (formerly Augeo before a rebranding in January 2020) serves the financial services sector by operating credit & debit card loyalty programs exclusively focused on banks and credit unions nationwide.

Mike Knoop and Mike Moss share insights on the card rewards business, but also offer a glimpse into the changes they have made as an organization to maintain momentum and keep spirits high among their associates. They also share perspective about how some of the changes being made from necessity today may become part of mainstream offers and operations in the future.

Join us for a candid conversation with these two industry leaders.

For those of you in a hurry. Video Timestamps:

  • 1:50 ampliFI Loyalty Solutions & COVID-19 adjustments
  • 5:10 Supporting customers & responding to the pandemic
  • 7:15 Adapting rewards, promotions, & offers
  • 8:20 Focusing on the consumer and the local community
  • 12:45 Temporary shifts becoming permanent solutions?
  • 14:40 Changes in redemption habits/preferences
  • 16:45 Getting personal: the silver lining & coming out of the pandemic stronger