SA banking giant wins regional loyalty award for its eBucks offering

By our News Team | 2023

FNB celebrates being recognised as a technology leader and the Middle East and Africa Regional Loyalty Champion of the Year.

The rewards programme offered by South African-based FNB bank to its customers – known as eBucks – has been recognised as a global leader at the recent 2022 International Loyalty Awards.

FNB, also referred to as First National Bank, was named Middle East and Africa Regional Loyalty Champion of the Year. In addition, it was recognised for Best Use of Technology.

Customer Loyalty

Photo courtesy of FNB

The International Loyalty Awards celebrate excellence and innovation among businesses that go above and beyond expectations. Regional honours are also granted to brands that have demonstrated the most inventive and engaging loyalty programme in their industry.

“eBucks Rewards was founded over 20 years ago to facilitate eCommerce and shape consumer financial behaviour through partnerships with customers and partner retailers,” says Jacques Celliers, CEO of FNB.

eBucks pays for goods and services digitally

“In many respects, eBucks was also an innovative currency, as it allowed customers to use their eBucks to pay for goods and services digitally. Today, eBucks is South Africa’s most aspirational platform-based rewards programme, with a focus on providing members and partners with real and meaningful value.”

“eBucks has paid out billions in rewards to customers since its inception and has an industry-leading earn-to-spend ratio, with most customers using their eBucks within days.”

According to Forbes business magazine, loyalty programmes are among the technologies that have seen an increase in adoption due to the newfound focus on digital transformation. It quotes MarketsandMarkets, the international growth consultancy, as forecasting that the global loyalty management market size will grow from US$8.6-billion in 2021 to $18.2-billion in 2026.

This is not FNB’s only recent accolade. It was also named as the Most Valuable Financial Services Brand for the third year in a row in Kantar BrandZ’s Top 30 Most Valuable South African Brands 2022.