SVC Bank launches a digital rewards platform

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SVC Bank (SVC Co-operative Bank Ltd.), one of the dominant Co-operative Banks in the country, had announced the launch of the SVC Rewards Program to its customers. To make the event seamless, the bank had tied up with the National Payments Corporation of India (NPCI).  This program is built upon the acclaimed “nth Rewards” platform – which is an analytics-enabled multi-branded loyalty platform by NPCI.

The newly launched Rewards Program is drafted to make the banking experience more rewarding for its customers. It will be in the form of Reward points earned upon the use of SVC Bank Cards and digital solutions. These Reward points can be saved to purchase products and services across leading brands in Electronics, Home Décor, Fashion, Lifestyle, Sports & Fitness, and Health &Beauty.

SVC Bank has served generations of customers with personalized banking services. Their legacy of 114 years holds testimony on how customers prefer their service deliveries over others. The bank is now planning to transform into an innovative phase of full-circle banking solutions. SVC 2.0 is, therefore, in line with this mode of conversion.  This model is focused on how the bank can reward its customers for the trust and business, not only with a highly engaging and personalized experience but more importantly by satisfying them with a dedicated solution.

To achieve this vision, the bank has partnered with NPCI and built a state-of-the-art loyalty management program. Together with their on-ground service efficiencies, SVC Rewards will prove to deliver an incredible customer experience and thus building a strong relationship with their customer for a lifetime.

Powered by NPCI, the platform has a simple and smart dashboard for SVC Bank customers where they can outlook their point’s accumulation, redemptions and also have wide reach to all the offers and rewards. Customers can procure loyalty points on almost every transaction made digitally, including Internet and Mobile Banking activation, IMPS/NEFT usage, bill payment and, debit card transactions.

The platform aims to increase the habit of digital payments among customers and at the same time provide a sense of personalization to them by rewarding them in the right manner. It will be a one-stop-shop for SVC Bank, aiding retention, and, growth objectives.

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