Integration with OpenLoyalty For Rewarding
Background
In January 2022, Funding Societies (FS) launched Elevate Credit Line, empowering users to make online payments. To broaden our user base and foster increased utilization of Elevate Credit Line, we introduced Cashback 1.0 in May 2022. This innovative system rewards Elevate users with cashback for their transactions.
Cashback 1.0
In Cashback 1.0, we collected monthly user transaction records and calculated their entitled cashback amounts. This data, along with user-cashback mappings, was uploaded to the Command Center, Funding Societies’ internal management portal. This streamlined the process of rewarding eligible users with their cashback.
Cashback 2.0
In Cashback 1.0, manual cashback allocation restricted the number and complexity of campaigns for Elevate users. Realizing the significance of cashback in our strategy to boost transaction volumes and improve the user experience, we realized the necessity of automating cashback allocation. This would enable near real-time cashback disbursement and the flexibility to run multiple campaigns to meet evolving business demands. Thus, Cashback 2.0 was born!
Integrate With OpenLoyalty (OL)
At the project’s outset, our initial plan was to develop a new service from scratch to calculate users’ cashback earnings based on their transactions. However, upon careful analysis of the workload and project timeline, we made the strategic decision to integrate OpenLoyalty, a SaaS platform known for its personalized loyalty programs.
What OpenLoyalty Provides?
User Management:
- Enables the synchronization of users’ data into their system.
- Offers the capability to export existing users into a .xml file, which can be easily uploaded to OpenLoyalty’s system through their user-friendly dashboard.
- Provides an API that enables Funding Societies to synchronize new users individually into their system.
Transaction Integration. Offers a robust API for seamless transaction uploads, ensuring accurate and up-to-date transaction data within OpenLoyalty’s system.
Campaign Management. Empowers administrators to create, manage, and track various marketing campaigns, enhancing user engagement and loyalty.
Points Engine. Automatically analyzes incoming transactions and associated campaigns to determine cashback entitlements, streamlining the rewards process for users.
Rewards Management. Provides a comprehensive platform for managing and distributing rewards, enhancing user satisfaction and retention.
Gamification and Achievements. Incorporates gamification elements to drive user engagement and encourage specific behaviors, leading to achievements and rewards.
Segmentation. Allows for the segmentation of user groups based on various criteria, facilitating targeted marketing campaigns and personalized experiences.
Integrate with OpenLoyalty
OpenLoyalty provides an exclusive link to FS for accessing the dashboard, where FS staff can:
- Manage member and transaction information
- Create campaigns and segments
- Configure the webhook that OpenLoyalty will use to notify for cashback earning events
- Generate a long-lived token, which FS uses to call the OpenLoyalty API, among other functions.
After the API integration is done with OpenLoyalty, the interaction flow will follow the graph below:
When a user onboards Elevate, we’ll use OpenLoyalty’s memberPost endpoint (step 2 in the graph above) to create a member in OL. Similarly, when a user makes a transaction using Elevate, we’ll utilize OpenLoyalty’s transactionPost endpoint (step 5 in the graph) to record the transaction in OL. Importantly, to enable steps 2 and 5, we include an API key in the header for authentication when calling OL’s API. This API key belongs to an account designated for external usage.
When a transaction (synchronized into OpenLoyalty in step 5) qualifies for cashback, OpenLoyalty triggers the webhook (step 7 in the graph above) we configured in the OL dashboard. This webhook notifies FS of the cashback earnings details. The webhook configuration resembles the following.
Conclusions
OpenLoyalty provides a robust reward engine, saving us the effort of building a campaign management system from scratch.
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Prior to 2023, Elevate only consisted of the credit line and the add-on virtual card.
Disclaimer: Elevate comprises of various products which are offered by entities within the Funding Societies group, some products may also be offered in partnership with other third-party providers. Regulated services within each Elevate product, if any, are specifically powered by the relevant licensed entities as prescribed in the disclaimers. Elevate Credit Line is not a credit card product. Click to Learn More.
