Jack Henry Associates (Monett, Mo.) announced the general availability of BIG Rewards, the integrated, customizable customer rewards and loyalty solution available through a strategic alliance with Saylent Technologies, a provider of payment intelligence software.
BIG Rewards is a customer acquisition and retention solution that enables banks to offer high-interest checking, cash-back, and merchandise incentives based on customer relationships and account activity. Interest-based rewards offer customers high-interest checking products, cash-back rewards provide monetary rewards, and merchandise incentives offer bank-defined gift programs.
According to a release, this targeted, customizable rewards programs can enable banks to increase deposits and profitability, improve customer retention, and enhance competitive positioning. Analytics capabilities allow banks to measure the impact of unique rewards programs and accurately report on and analyze customer data, transaction behavior and payment patterns. This online solution is offered in a hosted ASP environment managed by Jack Henry Banking and supported with a series of promotional materials that are provided to banks free-of-charge.