Loyalty in Financial Services Market- Current State of Loyalty Programs across Banking and Payments | Hang Seng Bank, M&S, Yuu, Barclays

Latest added Loyalty in Financial Services - Current State of Loyalty Programs across Banking and Payments Market research study by HTF MI offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are HSBC, Hang Seng Bank, M&S, Yuu, Barclays, NatWest, Commonwealth Bank of Australia, Axis Bank, Flowe, Santander, Citibank etc. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

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The proliferation of loyalty schemes in recent years has generated a series of challenges. Ubiquity and complexity have diluted their impact, and while signup rates remain high, dormancy is an increasing issue for a significant proportion of schemes. The global pandemic has served as both an opportunity and a threat to loyalty schemes in general: schemes have been redefined to reflect the physical and financial restrictions currently in place.

This report analyzes the current state of loyalty programs across banking and payments, the value they offer customers and banks, as well as the numerous challenges facing these programs amid both the growing role of digital banking and payments and the COVID-19 pandemic.

Scope

- Overall, reward programs are not a priority when selecting a financial provider. Instead, transparency, simplicity, and service are the factors consumers are most likely to prioritize.
- The pandemic has seen many loyalty schemes reconfigured, rewarding customers for safely supporting brands and introducing benefits relating to day-to-day savings - which are especially appealing during recession.
- Neobanks are winning millennials via a combination of digital functionality, fresh branding sometimes built on themes (such as sustainability and wellbeing), and gamified loyalty programs that sync with the brand.
- Traditional banks are attempting to address this competition, launching their own de-branded neobanks and sometimes incentivizing use of their own apps as part of their broader reward program.

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Competitive Analysis:
The major players are focusing highly on innovation in technologies to improving efficiency level. The industry growth outlook is captured by ensuring ongoing process improvements of players and optimal strategies taken up by companies to fight COVID-19 Situation. Company profile section of players such as HSBC, Hang Seng Bank, M&S, Yuu, Barclays, NatWest, Commonwealth Bank of Australia, Axis Bank, Flowe, Santander, Citibank includes its relevant information like name, subsidiaries, website, headquarters, market rank, gain/drop in market position, historical background or growth commentary and top 3 closest competitors by Market capitalization / revenue along with contact information. Each company's revenue figures, Y-o-Y growth rate and gross & operating margin is provided in easy to understand tabular format for past 5 years and a separate section on recent development like mergers & acquisition, patent approval and new launch etc.

On The basis of region, the Loyalty in Financial Services - Current State of Loyalty Programs across Banking and Payments is segmented into countries, with production, consumption, revenue (million USD), and market share and growth rate in these regions, from 2015 to 2026 (forecast), see highlights below

• North America (USA & Canada) {Market Revenue (USD Billion), Growth Analysis (%) and Opportunity Analysis}
• South Central & Latin America (Brazil, Argentina, Mexico & Rest of Latin America) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Europe (The United Kingdom., Germany, France, Italy, Spain, Poland, Sweden, Denmark & Rest of Europe) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Asia-Pacific (China, India, Japan, ASEAN Countries, South Korea, Australia, New Zealand, Rest of Asia) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Middle East & Africa (GCC, South Africa, Kenya, North Africa, RoMEA) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Rest of World

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