2023 was an extraordinary year for ampliFI Loyalty Solutions and our clients, as we witnessed tremendous growth, pushed the boundaries of innovation, and displayed an unparalleled commitment to serving our valued clients in the financial sector.
“The success we witnessed in 2023 can be attributed to three key areas,” said Mike Knoop, CEO of ampliFI Loyalty Solutions. “Firstly, we closely collaborated with our clients and partners to ensure strategic alignment with their growth goals. Secondly, we tracked market and consumer trends to provide optimized, high-performing solutions such as Real-Time Rewards to keep our clients’ cards top-of-wallet. Finally, we focused on improving our data analytics capabilities and provided thought leadership to ensure portfolio growth and financial strength.”
We’re proud to share the highlights of our 2023 Year in Review, showcasing the tangible impact our loyalty solutions had on financial institutions:
Client Revenue Generation
Loyalty programs aren’t just about engagement; they’re powerful revenue generators, contributing to the overall profitability of our clients. Last year, ampliFI clients saw $54 billion in spend and payment volume and earned an estimated $733 Million in interchange revenue – a testament to the monumental impact of loyalty initiatives on driving transactional volume and revenue growth.
The ampliFI Impact
Our commitment to driving engagement and fostering lasting relationships with consumers led to remarkable outcomes:
- 16% Growth in Points on File: This uptick signifies more than just numbers; it represents an increase in engaged consumers, indicating a deeper connection between financial institutions and their clientele.
- We partnered with institutions in 49 states, the Bahamas, and the Canary Islands, helping them delight cardholders and achieve long-term goals.
- With over 60 new clients joining our ranks and a staggering 625 projects deployed by our dedicated client delivery team, 2023 was a year of expansion and fruitful partnerships.
- Our client retention rate rose to 97%, a testament to our clients’ trust and confidence in us.
“The financial benefits that our clients experience enable them to establish strong and meaningful relationships with their consumers,” says Ron Silvia, Chief Revenue Officer at ampliFI Loyalty Solutions. “Our client’s satisfaction and success are demonstrated by our 97% client retention rate and the addition of over 60 new clients to the ampliFI family in 2023.”
Client Program Achievements
Our clients’ successes are the heartbeat of ampliFI, and in 2023, their achievements spoke volumes:
- Active accounts witnessed a 10% surge in swipe volume and a 9% rise in total spend, demonstrating the efficacy of loyalty programs in driving transactions and consumer engagement.
- The surge in Real-Time Rewards order volume by 87% underscored the growing appetite for responsive and immediate gratification among consumers.
- A 35% increase in promotion transaction volume highlighted the strategic utilization of data-driven insights to enhance engagement and spending.
Cardholder Engagement
- ampliFI clients saw a 5.4% increase in the accumulation of loyalty points by active credit account holders, indicating higher engagement with loyalty programs and stronger loyalty.
- There was a 15% increase in point redemption activity, highlighting cardholders’ greater utilization of loyalty points. This demonstrates the effectiveness of loyalty programs in incentivizing spending and enhancing consumer satisfaction, ultimately driving retention and loyalty.
- Every interaction counts, and in 2023, billions of touchpoints were forged, strengthening the bond between financial institutions and their valued cardholders.
New Client Results
The influx of new clients in 2023 yielded promising outcomes:
- An 18% increase in consumer spend among new clients showcased the transformative impact of loyalty programs in driving revenue and fostering deeper consumer relationships.
- With a 23% increase in transactions and a notable uptick of 15% in point redemption activity, our new clients experienced heightened engagement and participation.
“As we chart our course for 2024, our resolve remains unwavering,” says Knoop. “We will continue to build upon the achievements of 2023, leveraging innovation, data-driven insights, and a client-centric ethos to meet market demands and redefine the landscape of loyalty solutions in the financial sector.”
Ready to drive meaningful results at your institution? Contact our loyalty experts for a free consultation and demo to learn how we can ampliFI cardholder engagement at your financial institution.