FIS (NYSE: FIS), a global leader in financial technology, today announced it will be providing a completely end-to-end loyalty program management platform for Commerce Bank, a Midwest regional bank with over $30 billion in assets and nearly 160 years of history.
By collaborating with FIS on this strategic initiative, Commerce Bank seeks to offer faster, more flexible innovation for its loyalty program, including enabling customers to redeem loyalty points at the point of sale.
“FIS is excited to manage Commerce Bank’s loyalty program and offer them capabilities that keep up with customers’ shifting expectations, closely resonate with their lifestyles, and generate impactful brand advocacy,” said Mladen Vladic, Head of Products and Services for Loyalty at FIS. “The relationship will ultimately help Commerce Bank upgrade from a traditional, transaction-based loyalty program to one that generates more meaningful and long-term engagement with its customers. It’s a testament to our proven ability to help organizations modernize how their customers move money and make the most of their money at work.”
By leveraging FIS’ loyalty engagement solutions and its underlying APIs, Commerce Bank’s loyalty program will have the benefit of new customer marketing with insight capabilities, faster product roll-out, and back-end support on processes such as fulfillment, reporting, customer servicing, and related tasks.
As part of the solution, Commerce Bank will also leverage FIS to make it easier for customers to redeem reward points right at the point of sale, ultimately providing them with instant cash savings and driving more engaged cardholder behavior. Unlike other programs in the market, Premium Payback’s frictionless and real-time experience does not require behind-the-scenes settlement with cardholders before rewards can be applied.
By selecting FIS to power its loyalty program management, Commerce Bank opens the door to providing cardholders with a new rewards program that innovates faster, operates more efficiently, and improves customer engagement for a more meaningful relationship.