SOURCE: Buzz Points

Buzz Points

May 09, 2017 06:00 ET

New Financial Institution Partnerships and Product Innovations Drive Buzz Points Growth

AUSTIN, TX--(Marketwired - May 9, 2017) - Buzz Points Inc., an incentive-based customer engagement and revenue-generating platform, made famous by its "buy local, spend local" rewards for community financial institutions (CFIs), has added 14 new partner CFIs to the program. Additionally, Buzz Points has introduced product capabilities that will help community banks and credit unions better customize their incentive programs to drive revenue growth and deepen customer engagement.

"We have a responsibility to support America's community banks and credit unions," said Buzz Points CEO Dwayne Spradlin. "They remain the backbone of their communities, and our innovations enable these financial institution partners to compete in today's market."

CFIs across the country have adopted the Buzz Points program to engage their customer base and garner additional revenue for their institutions. In 2017 alone, Buzz Points has launched its platform at 14 more CFIs, including: San Antonio Citizens Federal Credit Union, Hoosier Hills Credit Union, The Family Credit Union, Metro Credit Union, HarborOne Bank, FirstState Bank, St. Mary's & Affiliates Credit Union, Community Star Credit Union, Heritage South Credit Union, People's Choice Credit Union and Tuscola National Bank, Bank of Richmondville, Ripco Credit Union and Greenfield Savings Bank.

"Buzz Points is a perfect fit strategically, reinforcing our reputation as a bank that not only cares about local, but makes a real difference in meaningful ways," explained HarborOne Bank SVP and Chief Marketing Officer Dave Tryder. "Three weeks into the program, we have over 2,000 enrolled accounts and plans to find new and interesting ways to use the program to drive other parts of our business."

Real-Time Rewards, launching to Buzz Points partners in 2017, will eliminate friction in the reward redemption process for consumers and their financial institutions. The new technology monitors cardholder transactions in real time, messages consumers in the moment and applies cash back to qualifying transactions.

"Real-Time Rewards paves a new path for contextual consumer engagement," explained Buzz Points Chief Technology Officer Stuart Cook. "It radically simplifies redemption for our partner financial institutions, deepening loyalty with both them and merchants in their communities."

In addition, Buzz Points' upgraded Application Program Interface (API) empowers CFIs and service providers to integrate Buzz Points into their existing channels, like mobile applications, online banking platforms, ATMs and more.

Furthermore, Buzz Points' extended configuration capability lets CFIs customize the program based on their product portfolios, customer segmentation and overall program goals. Through various earning mechanisms, CFIs can strategically incentivize customer behavior that generates cost savings for the institution -- like rewarding enrollment in e-statements -- or new revenue, by rewarding cross-selling efforts.

About Buzz Points, Inc.

Buzz Points, Inc. is an incentive-based customer engagement and revenue performance solution for community financial institutions (CFIs). The Buzz Points platform provides data-driven, incentive-based customer engagement solutions that enable CFIs to capitalize on revenue opportunities and level the playing field with national players. For more information, visit www.buzzpoints.com.

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