FAB Rewards Shop – powered by Collinson, a new online marketplace from First Abu Dhabi Bank (FAB), allows clients to earn and spend FAB Rewards at over 110 premium brands.
As the bank continues to extend its client incentive offering, the launch of the FAB Rewards Shop is another significant step forward. FAB’s programme is unique in that it makes the most of every purchase, allowing members to “earn faster and on anything.” In addition to debit and credit card spending, FAB Rewards allows users to earn Rewards for taking out a personal loan, registering for FAB mobile and online banking channels, and simply maintaining an average monthly account balance.
Rewards earned across all bank interactions are added to the customer’s account and can be redeemed instantaneously on the FAB Rewards Shop, which features over 1,300 luxury items from 110+ companies in electronics, fashion, and lifestyle. Customers of FAB can also use their Rewards to get instant e-vouchers, pay with rewards at the point of sale, earn airline miles, book flights and hotels, get cash back, or pay their energy bills.
Robert Kufersin, Head of Loyalty & Partnerships at FAB, said: “FAB seeks to leverage its digital services to deliver value and an enhanced customer journey. We are excited to bring our customers more redemption options relevant to their everyday spending through the launch of the FAB Rewards Shop. Our customers can now enjoy access to a wide range of retail items spanning some of the most exciting and sought-after brands across electronics, fashion, home appliances, and more. To date, FAB’s digital rewards platform has proven popular and we look forward to building on this to ensure we continue offering an unrivalled customer rewards programme in the market.”
The number of monthly unique redemptions has quadrupled since the debut of the FAB Rewards programme, with over 90% of those redemptions taking place through FAB digital platforms. Among active redeemers, there has been an increase in cardholder expenditure, indicating the importance of highly engaged customers.
Sanjit Gill, General Manager at Collinson Middle East adds, “In an age where digital citizenry has reached its highest levels in the UAE, loyalty programmes are an effective way of engaging and connecting with your customer. Enhanced loyalty programmes are effective tools to ensure customers’ expectations are met at all levels, which is key to retaining loyalty and for sustainable growth. FAB Rewards has witnessed high levels of engagement, much greater than the previous loyalty schemes. The success of the FAB Rewards programme is built on the foundation of customer centricity, which we strive to augment with the launch of the FAB Rewards Shop.”
