After taking home three accolades at the 2023 International Loyalty Awards, FNB’s eBucks Rewards proved once again why it is the gold standard for behavioural rewards programmes throughout the world. eBucks took home awards for “Best Use of Technology” for the 2nd year running, “Best Programme Middle East & Africa,” and “Best Long-Term Loyalty Programme.” The awards recognise excellence and innovation among brands that go beyond expectations to create engaging loyalty programmes in their industry.
Jacques Celliers, CEO of FNB, says, “We are pleased and humbled that eBucks has been honoured at the International Loyalty Awards once again. This achievement underscores our commitment to offering our customers great value and cutting-edge solutions. In a time when the cost of living is putting pressure on households and businesses, rewards have been an important buffer for customers. Our aim is to ensure that customers get value from the programme while embracing our advice-led approach to helping them better manage their money.”
The sentiment is echoed by Johan Moolman, eBucks Rewards CEO, who says, “The high levels of participation among FNB and RMB Private Bank encourage us to deliver the best programme in the market. In addition, our partners across the full range of categories we offer have provided phenomenal support for our efforts to ensure that the programme benefits are in line with customers’ needs. In true behavioural style, eBucks continues to drive customers’ engagement with FNB’s digital channels, such as the FNB App, where customers can access programme benefits, tips, and manage their money and rewards easily and safely.”
Since its inception, eBucks has paid out over R19.2 billion and has an average earn-to-spend ratio of 95%, with most customers spending their eBucks within 30 days. Millions of South Africans continue to rely on the programme to alleviate financial constraints for necessities such as fuel and food, travel expenses, and daily essentials like airtime and data. In the past year, FNB enabled its customers to use their eBucks to pay for some of their bank fees, and many customers have used this benefit to the value of R92 million since its introduction.
“We encourage customers to take advantage of our benefits to free-up some financial pressure. We are grateful for our eBucks members’ willingness to allow us to help them with their financial behaviour while also taking care of their lifestyle demands,” concludes Moolman.
BuffFreak
High-Net-Worth Individuals: The Africa Wealth Report includes data on high net worth individuals (HNWIs), defined as individuals with net assets of US$1 million upwards. In 2016, South Africa was home to the most HNWIs in Africa, having an estimated 40,400 individuals. This is followed by Egypt (around 18,100 HNWIs) and Nigeria (around 12,300 HNWIs). Having a large group of HNWIs is an indication of a positive business environment, and, despite what we see in the news, South Africans are making money. So why can’t you?