Maritz Motivation Solutions and HSBC Innovate with Artificial Intelligence in the Loyalty Sector

ST. LOUIS, March 13, 2018 /PRNewswire/ -- Maritz Motivation Solutions, a leading provider of loyalty programs to U.S. and global companies, announced the successful use of artificial intelligence (AI) to predict the redemption of loyalty program rewards associated with HSBC's new suite of credit cards.

"This use of AI with HSBC's card program is one of the first in the loyalty sector and demonstrates that artificial intelligence and machine learning are the future of business," said Jesse Wolfersberger, senior director, decision sciences, Maritz Motivation Solutions. "We're going to witness more companies using AI to engage people in new and innovative ways. We are proud to have a proprietary AI system that makes loyalty programs smarter and more efficient and can result in significant operational cost savings for businesses."

Maritz's AI algorithm, also known as machine learning, predicts the rewards a loyalty program member is likely to redeem over the next year. The AI then suggests a redemption category to promote to each member and calculates the percentage of clients likely to redeem in different categories.

"Partnering with Maritz allows us to be on the leading edge of innovation as we deliver better experiences for our customers," said Pablo Sanchez, head of retail banking and wealth management for HSBC in the U.S. and Canada. "We launched this new suite of cards to provide the ultimate support for our customers' lifestyle. By using AI to predict our consumer's redemption behavior, we've refined our loyalty program to 'speak' to our customers by promoting the perfect reward or experience for them."

The HSBC promotion involved 75,000 credit card rewards members. Cardholders were sent e-mails based on the AI recommendation in one of four categories: travel, merchandise, gift cards and cash. A control group received an e-mail with a random category. 

Of those who received the targeted messages and redeemed, 70% redeemed in the AI recommended categories. The number of opened e-mails increased 40% among the AI group.

"We took great care in designing our new portfolio of cards to meet the wants and needs of consumers, whether it's added purchasing power, maximizing cashback rewards or investing in life experiences," said Marcos Meneguzzi, head of cards and unsecured lending at HSBC. "These initial results show that our customers are responding to a more personalized customer experience."

Wolfersberger added, "In the HSBC campaign, we found that the AI promotion was three times more efficient than the control group. In today's competitive landscape, instead of a scatter-shot approach, companies and brands now have the latest tool to engage and delight customers, make their rewards programs more effective and increase the return on their loyalty investment. From the brand perspective, the use of AI allows companies to serve customers better with a more customized and targeted loyalty program that results in significant operational cost savings."

About Maritz Motivation Solutions 
Maritz Motivation Solutions helps companies drive growth by unlocking people potential through consumer loyalty, employee engagement and sales incentive programs. We believe that people are at the heart of any business's success. That's why we partner with Fortune 500 companies who are ready to discover the best approach to motivation: helping people define and become their best selves through their companies, careers, or favorite brands. Leveraging unsurpassed industry experience, decades of behavioral science research and a proprietary approach to data and decision sciences, Maritz can motivate human performance like no other company in the world. Today, more than 100 million people participate in client programs representing industries including hotels, airlines, pharmaceutical, automotive and financial services. For more information, visit www.maritzmotivation.com, subscribe to our blog, follow us on Twitter or call 1-877-4-Maritz (1-877-462-7489).

About HSBC
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 3,900 offices in 67 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,492bn at 30 June 2017, HSBC is one of the world's largest banking and financial services organizations.

HSBC Bank USA, National Association (HSBC Bank USA, N.A.), with total assets of US$191.9bn as of 30 June 2017 (US GAAP), serves customers through retail banking and wealth management, commercial banking, private banking, asset management, and global banking and markets segments. It operates 229 bank branches throughout the United States. There are 146 in New York as well as branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of the FDIC.

SOURCE Maritz Motivation Solutions

Related Links

http://www.maritzmotivation.com