October 03, 2022 • by Arity

Create valuable experiences for mobile banking users with mobility data 

With Arity’s mobility insights you can offer mobile banking customers personalized ways to earn more rewards that will drive engagement.

In our last mobile banking blog post, we discussed how app publishers can use mobility data to improve users’ financial literacy. In this post, we’ll discuss how it can also enhance your rewards programs by increasing customer engagement and loyalty.

The mobile experience and rewards program is important – especially for banks – to acquire and retain customers. In a survey conducted by Insider Intelligence, respondents were asked “what were the main reasons for switching to this bank or credit union?” 43% of respondents said they had switched financial institutions because of their mobile banking offering, and 20% said that they had switched because of rewards. It’s critical for banks to think about how their mobile experiences deliver high reward-earning opportunities.

A bar chart showing the reasons that respondents switch financial institutions. Options for mobile banking and online banking were the most popular responses, earning 43.1% and 35%, respectively.

What rewards will motivate your customers to use your app more? According to the latest consumer study by Arity, app users want personalized experiences and prefer to receive more frequent and tangible benefits. With Arity’s mobility data, you can enhance your rewards programs with personalized tips so customers can earn more points and redeem them how they like, based on insights about their habits and preferences. Here are some examples.

a mockup of a phone displaying notification for various offers and rewards that can be redeemed near the user's location

Encourage users to redeem and maximize points and rewards in a way that feels unique to them

With Arity, mobile banking publishers can give their customers real-time personalized suggestions to earn more rewards based on how they move through the world. It’s not enough to show users where they can earn rewards with an in-app map; they need actionable insights that will keep your app and your card on top of mind.

a mockup of a mobile phone displaying a relevant retail offer to a user who is about to pass by that brand's brick and mortar retail location

When your customers receive more tailored and personalized offers, they become customers that:

    • Are loyal to your business

    • Keep your card on top-of-wallet

    • Increase ratings and referrals for your business

Rewards programs are among the costliest features for financial institutions; however, with Arity, it is possible to turn rewards into a great revenue driver by leveraging our predictive mobility insights model.

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Arity
Arity is a mobility data and analytics company. We provide data-driven solutions to companies invested in transportation, enabling them to deliver mobility services that are smarter, safer, and more economical.

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