Moneythor launches Customer Activation Management platform
Moneythor, a Singapore-based provider of personalisation and digital engagement solutions, has launched a new offering, Customer Activation Management.
The platform offers a range of features including advanced referral management, points, vouchers and gift cards, cashback, challenges, and gamification techniques. Moneythor says it addresses a key challenge global banks are facing today – “the struggle to implement successful acquisition strategies and to nurture post-acquisition engagement”.
The company recently conducted a survey in collaboration with FinTech Futures, in which less than a quarter of respondents deemed their acquisition methods effective.
Furthermore, the surveyed financial institutions reported a concerning 15% drop-off rate among newly acquired customers within three months, with a lengthy 12-month average timeline required for a customer to become profitable.
In response, Moneythor says it “has pioneered the concept of Customer Activation Management, which proposes a systematic process that encompasses customer acquisition, engagement, and motivation, all aimed at encouraging active and effective usage of financial products and services while addressing customers’ financial wellbeing ambitions”.
The new platform can integrate with any core banking system, the vendor adds.
“We firmly believe that banks and fintech firms are being underserved with the legacy techniques and products available to them resulting in missed opportunities to enhance adoption and utilisation of their services,” comments Olivier Berthier, CEO of Moneythor.
“Our recent research underscores the struggles banks face in ensuring long-term customer profitability, and we firmly believe that Customer Activation Management, along with our platform, present the definitive solution to these challenges.”
The survey findings and analysis can be found in this free report, Increasing new customer acquisition and engagement in digital banking.