Why it matters: Wallet Factory, a fintech company, has implemented a comprehensive customer loyalty platform for YASNO, a primary energy provider.
The move is expected to improve customer retention, increase payment discipline and drive cross-selling.
Given the scale of YASNO's operations, these changes could significantly impact the customer experience and the broader energy sector.
The Key Points
- Wallet Factory's loyalty platform is tailored to YASNO's specific needs, providing flexibility in setting priority and exception rules, defining payment criteria, and introducing additional indicators for rule calculation.
- Before the implementation, YASNO faced challenges with timely invoice payments and additional product sales. The new system aims to increase invoice payment rates and drive sales through direct discounts on partner merchandise.
- Wallet Factory's loyalty program is integrated with customer service, allowing data exchange between the loyalty and external systems.
The Big Picture: Wallet Factory's move exemplifies a trend toward using advanced technology to improve the customer experience and drive business success, particularly in the financial sector.
This shift is particularly notable in emerging markets, where the transition from a cash-heavy to a cash-lite society is becoming more pronounced.
Wallet Factory's move could set a precedent for other companies in the energy sector and beyond.
