Community-Based, Merchant-Funded Rewards Program
fisoc’s management team has more than 20 years of experience in the financial services industry, specifically in Internet banking development. fisoc developed the Buzz Points platform which combines fisoc’s technology expertise with its passion for developing software that enables deep relationships between credit unions and their members.
The Buzz Points Rewards Program is the next generation in merchant-funded rewards programs and a substantial driver of non-interest revenue for credit unions. Buzz Points aligns the interests of credit unions, local merchants, local charities and members to benefit all stakeholders, while integrating social media platforms that increase consumer awareness and engagement.
Your credit union can use Buzz Points to encourage and reward a member’s good financial behavior—a marketing tool kit using social media to find new members, uncover new loan opportunities, and cross-sell more products.
You can determine which of your products or services are eligible for rewards—gift cards or cash—and the levels at which they can redeem. For example, you may want signature debit purchases to earn more points than a PIN transaction. Maybe you want to reward more if the member switches to an e-statement, and less for maintaining a certain account balance. Loyalty increases as members realize the benefits of transacting with your credit union.
Buzz Points solutions:
BuzzDebit was developed to increase debit card usage. By incorporating educational tools and incentives, BuzzDebit entices members to use their credit union’s debit card for point-of-sale and online purchases.
BuzzLending is a decision-point marketing technology that helps your credit union detect loan opportunities, make targeted loan offers, and reward members for choosing you for their borrowing needs. By opting in to the permission-based program, members will be able to receive loan offers based on key words or phrases they use in social networks such as Facebook or Twitter.
BuzzMerchant creates stronger connections between your credit union and local retailers. By creating a credit union “buying club,” merchants will pay to advertise to your member base, while members who use their debit card with participating merchants can earn rewards for their purchases. Members can also earn bonus points for broadcasting these purchases and other activities (such as checking in) on Facebook and Twitter. Both your credit union and the businesses gain attribution through social media channels.