Ras Al-Khaimah, UAE.
RAKBANK is a leading retail and small to medium business bank in the UAE and major issuer of various card products including credit cards and pre-paid cards.
RakBank had a wide network of customers, a majority of who were credit card holders.
The bank wanted to further improvise the services offered, to provide more value added services.They were looking at a sustainable model of customer engagement which would aid business progress and boost customer satisfaction. Recognizing their customer value by tracking the customer preferences was another key requirement.
These were the main requirements they had:
- Attract more customers into becoming cardholders
- Increase the usage of the cards
- Recognize their privileged customers who showed higher usage of their card
- Provide more value added services to their privileged customers
- Foresee customer values
How Oorjit helped
Team Oorjit employed a synergic approach, working closely with the bank during each phase of the project to develop an effective and sustainable solution to attain all their requirements. Within the initial stages of consultation & requirement analysis, it was concluded that a daily deal portal would meet the bank’s requirements by catering exclusively to its cardholders.
The Oorjit Daily Deal Solution was delivered, integrated with productive analytics & report tools which helped the bank recognize its privileged customers & frequent card users. Oorjit’s in-depth analytics and efficient deal management ecosystem enabled RakBank to post local deals matching customer preferences. This also helped improve the bank’s relationship with the local merchants. They were provided with a dedicated dashboard for easier and smoother management of their deals through the portal. Tracking and monitoring the usage patterns of the cardholders was thus made easy through additional analytics from the portal.
These are some additional features that were provided:
- Product offers to attract new customers or engage them
- Additional offers for RakBank credit card holders
- Provided special login for high privileged customers to download free deals
- Dedicate dashboard for merchants to track transactions
How RakBank benefitted
There was a substantial uptake of the new cards by Titanium members (privileged card holders) and significant uptake of the pre-paid cards after the launch of deal site. A huge surge in the number of subscribers automatically created a surge in card usage. The RakBank deal site has thousands subscribers today & their credit card usage has gone up massively. While helping in business profitability, this has also led to a more efficient customer engagement.
With the help of the exclusive portal, the bank attracted many new customers, and also converted many existing customers into cardholders. Customer retention was now easy and privileged customer communication also went up by. They sold thousands of value deals from their local merchants and thus improved the relationships with their merchant clients as well as customers.
Oorjit was able to bring about an overall progressive impact on the bank’s business through its robust and scalable portal and has enabled RakBank to deliver a higher level of performance.