SOURCE: MasterCard

October 03, 2007 08:30 ET

MasterCard Loyalty Solution Helps Fifth Third Build Relationships With Customers

Program Rewards Entire Relationship and Enables Banks to Effectively Cross-Sell Products, Increase Revenue and Improve Customer Retention

PURCHASE, NY--(Marketwire - October 3, 2007) - Financial services firms are benefiting from a new loyalty program from MasterCard Worldwide that empowers issuers to better leverage customer relationships and increase customer loyalty based on the entire financial relationship.

Fifth Third Bank, based in Cincinnati, Ohio, is one of the first financial services firms to implement a relationship rewards program on MasterCard's loyalty platform. The loyalty program branded 53PointShare(SM), which Fifth Third rolled out in the second quarter of 2007, allows customers to combine the points that they've earned on Fifth Third credit and debit cards in a single account, enabling them to accumulate and redeem rewards faster than ever before.

"By combining points across card products, we are demonstrating to customers that the overall relationship is important, not just a single product or service," says Jon Groch, Senior Vice President, Card Division, Fifth Third Bank. "By strengthening these relationships, we are building a stronger and more loyal customer base."

Fifth Third's new program demonstrates how banks can leverage the MasterCard Relationship Rewards loyalty platform to reach new levels of personalization through rewards that meet specific customer interests. It also enables banks to roll multiple lines of products into one rewards account, helping to deepen relationships.

In addition, Relationship Rewards enables banks to build loyalty programs unique to their own brands and to cross-sell retail bank and credit products more effectively. Due to the sophisticated technology at the core of the new program, processing multiple products for seamless scoring, tracking and fulfillment of rewards is done easily. Also, as Relationship Rewards runs on a parameter-based platform, it allows financial institutions to change or modify their rewards programs quickly and effortlessly, based on behaviors they want to encourage, or products they wish to promote.

MasterCard Advisors Loyalty Solutions group is working closely with Fifth Third Bank to household customers online for enrollment and point tracking. Loyalty Solutions worked with Fifth Third to design the initial program and continues to provide strategic and technical consulting as the bank's program evolves.

"Fifth Third Bank understands the value of identifying and rewarding customers for their entire relationship with the bank," said Mark Shipley, Global Practice Leader, Loyalty Solutions Worldwide, MasterCard Advisors. "By offering relationship-based rewards, MasterCard is helping to create true loyalty among Fifth Third customers, creating a deeper connection to create advocates for the bank, not just points-redeemers."

Beyond rewards related to debit and credit card use, through a unique customer identifier, Loyalty Solutions can track and assign point values for other banking products and services. Rewards can be earned on deposit or investment balances, the number of products held, transactional elements such as card purchases, online bill payment, direct deposit, as well as one-time promotional events such as a mortgage or HELOC application/approval. Financial services providers can customize programs to any degree desired.

Additionally, rewards from personal and small business products can be commingled, allowing customers to have a consolidated rewards "bank" from which they can take advantage of everything from cash-back, travel, merchandise, build your own rewards to matching contributions and experiential rewards.

About Loyalty Solutions Worldwide

Loyalty Solutions Worldwide designs and manages programs to acquire, retain, and strengthen customer relationships. Powered by MasterCard's global loyalty processing engine, Loyalty Solutions offers data analytics, customer service and rewards fulfillment. Loyalty Solutions Worldwide is part of MasterCard Advisors, the professional services arm of MasterCard Worldwide. For more information visit www.loyaltysolutionsworldwide.com.

About MasterCard Advisors

MasterCard Advisors, LLC, the professional services arm of MasterCard Worldwide, provides payments-focused consulting, information and outsourcing services to financial institutions and merchants worldwide. With its unparalleled category expertise, deep understanding of customer needs, and successful track record in addressing complex challenges throughout the payments lifecycle, MasterCard Advisors delivers customized end-to-end solutions that maximize the value of clients' cards and payments businesses. MasterCard Advisors shares the goals and vision of its clients, and works in partnership with them to deliver actionable insights that drive tangible impact and financial gain. For more information, go to www.mastercardadvisors.com.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes close to 16 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information, go to www.mastercardworldwide.com.