FIS (NYSE: FIS) says it will provide a complete 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.”
By leveraging FIS’ loyalty engagement solutions and its underlying APIs, Commerce Bank’s loyalty program “will benefit from 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, 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.”
FIS is a financial technology company “providing solutions to financial institutions, businesses, and developers.”
They unlock financial technology to the world “across the money lifecycle underpinning the world’s financial system.”
Their people are dedicated to “advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses.”
Expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing Fintech.
