Blockchain-Based Rewards Platform
Case Study:
Blockchain-Based Rewards Platform
Client Challenge
A key objective of the financial institution is to drive a more youthful banking experience.
Several ideas and initiatives have been proposed and implemented to drive this agenda. However, the impact has been minimal. The institution required an innovative concept to gain market share within the open market, acquire new clients, and entrench its existing base.
They ideated a loyalty and rewards proposition and required strategic input to validate the viability and potential benefit of launching.
The Solution
The proposed proposition aimed to leverage the existing partnerships of the bank's rewards program, to attract both existing and non-existing clients, bolster corporate identity and gain market share.
The BSC team helped articulate, design, and visualize a rewards platform backed by Blockchain technology.
This entailed doing extensive market research, understanding international trends in this space, as well as detailing the mechanics of the platform, and engaging with multiple stakeholders within the bank to help define an MVP solution.
A high-level business case was developed to help quantify the financial viability of the proposition and justify the expenditure.
Solution Value
The business case aided the financial institution in the evaluation of the required investment, providing a framework of the costs involved as well as the different revenue streams that the concept would generate.
By unpacking the concept in detail, the institution was provided with all the knowledge required to make an informed strategic decision on whether to go ahead with the proposition, informing their plan of action launching with a well-defined MVP solution.
Your Financial Services Operations
Transform your financial services operations today to unlock hidden customer value, optimise product portfolios, and create sustainable competitive advantages that will position you as an industry leader in the rapidly evolving financial landscape.