The Australian Financial Review features Kognitiv’s innovative perspective on collaborative commerce and creating more value for consumers to build true loyalty.

Today's loyalty landscape is saturated with the typical spend and get model. Customers are always seeking new ways for brands to "wow" them with a unique experience. In order to win, brands need to think beyond the status quo.

Once you define your churn, before you set targets and compare to industry benchmarks, reflect on your core business KPIs and the maturity of your program.

The advent of open banking combined with emerging technology is threatening the dominance of traditional banks.

This year, we will see a massive shift in how banks build out their customer growth and retention strategies through personalized customer journeys and experiences.

Here are some quick wins in using what you easily have in your arsenal to navigate the current challenging environment.

For banks, the global pandemic caused a shift from the aspirational benefits of credit cards (motivated through tiering and long-term goals) to necessity benefits, in other words, rewards members can achieve and use in the immediate and near-term.