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BANKING

Social Media Unlocks Millions in Savings for Credit Card Holders


The Challenge

Discovering ways to leverage social media effectively seems to be the next great frontier. But many companies struggle to find ways to truly engage with customers through the various social platforms.

When a leading financial firm known for innovation decided to launch an ambitious initiative to integrate its loyalty program with Facebook and Twitter, it had a lot of work to do. Its numerous goals included increasing the ability to focus targeting and advertising, and better understanding customer sentiment and behavior. The company asked Cognizant's banking technology experts to partner in delivering this first-of-its-kind capability.


Our Approach

Knowing this project was the first of its kind, Cognizant expected technical hurdles. We augmented the company’s existing integrations with custom functionality to support the new social integration features. We also assisted the credit card company’s technical teams in addressing gaps.

Cognizant created the shopping-cart redemption experience that converts loyalty points into currency for special offers within social media sites. With necessary data stored in various systems on the company’s side, we also developed a universal template that is scalable enough to adapt to any new repository. Now, the company can easily roll out new offers to its redemption experience.

Deals and Discounts Become More Personal When Your Social Profile Is Involved 

Using the new program, the financial services company can target deals and discounts to cardholders based on social data such as their Facebook likes and interests and the likes and interests of their friends. More targeted and relevant offers mean a greater likelihood of redemption.

$200M

saved by card members through the program to date

6 month

program implementation time

First-of-its-kind

integration between a major financial rewards program and social media advertising


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