Bank of America on unlocking greater accessibility in reward programs
How effective are reward programs in retaining customers, how do different generations interact with them, and how accessible are they to the average consumer?
Shikha Narula, Bank of America's Head of Rewards, shares how Bank of America's Preferred Rewards program measures and evaluates its performance in these areas.
Retention, engagement, and access — keys to better reward programs
Loyalty programs have evolved into a fundamental aspect of consumer culture, widely regarded as critical for fostering customer loyalty. However, questions remain: How effective are these programs in retaining customers, how do different generations interact with them, and how accessible are they to the average consumer?
I spoke with Shikha Narula, Bank of America’s Head of Rewards, to explore these topics and how Bank of America’s Preferred Rewards program, now a decade old, measures and evaluates its performance in these areas.
Shikha Narula, head of rewards at Bank of America
Q: How does Bank of America ensure that all members feel valued and engaged in the Preferred Rewards program regardless of their tier?
…
0 comments on “Bank of America on unlocking greater accessibility in reward programs”
Robinhood is moving AI agents from the sidelines into the trading workflow, giving them access to research, strategy-building, and execution, with customers deciding how much authority to hand over.
The company is building toward always-on trading, pairing agents with Loops, expanded market hours, and more market-data tools.
Bank of America trains its 200,000+ teammates on Gen AI by teaching accountability and critical thinking first, deliberately leaving out tokens and technical details.
Role-specific learning pathways, AI conversation simulators, and a network of AI Champions give employees a safe place to build skills and ease concerns about their careers. Success is measured by whether learning changes how people work and shows up in business outcomes.
U.S. Bank is using its new Business Essentials cards to deepen its small business relationship, tying rewards to deposits while connecting spending with broader financial workflows.
The overarching strategy is to pull more fragmented small business activity – from expenses and payroll to payments and cash flow – into one banking relationship.
