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The FAB Rewards program stands as a testament to innovation and customer centric design, developed to transform loyalty into a powerful driver of engagement within the UAE’s banking landscape.
FAB offers one of the most comprehensive enterprise loyalty propositions, an amalgamation of eight distinct loyalty currencies unified post-merger of two powerful banks now known as First Abu Dhabi Bank. The pan- bank program caters to the needs of a diverse profile of customer segments and serve as a pivotal touchpoint in driving digital interactions and app engagement.
The program’s design caters around the strategic goal of motivating members to experience a truly digital first experience by focusing on creating the best in market rewards ecosystem. FAB Rewards presents an array of redemption options intuitively aligned with members preferences and lifestyles including flexibility to redeem for cashback, vouchers, travel, utility bills and even engaging games thereby providing an experience that meets the modern consumer expectations.
FAB offers one of the richest set of loyalty offerings today across Islamic, Elite and mass market customers.
Constant re-design through new features
Through its design transformation, FAB Rewards have refined customer interactions through launch of partnership with Apple in September 2024 with the launch of iPhone 16, merchant funded bonus rewards propositions with Reward UK and Amazon in April 2024, Spin the wheel games redemption in August 2023, the Earth Sustainability game during COP28 UAE & the FAB Rewards Elite card with a unique tree planting program launched in November 2023 and the launch of the FAB Rewards Shop & Shukran points exchange in May 2022 and December 2022 respectively since its original inception and go live in 2020.
With its strong digital focus, the program today is one of the top clicked features on the FAB Mobile App integrating Rewards into their financial routines. The program usability has enabled drive customer satisfaction and positioning FAB Rewards as an essential tool in members daily lives.
The program continuous improvement agenda has yielded impressive business outcomes with members spending nearly 25% more than non redeemer members and revenues higher by an impressive 60%, establishing it as a key contributor to the bank’s strategic goals.
Operations
Operationally, FAB Rewards has achieved excellence in partnership management with a robust network of global and regional alliances. Collaboration with top-tier vendors such as Collinson Group, Reward UK, Amazon and Apple along with UAE based entities like Etihad Airways and Emirates Skywards amongst others have strengthened FAB Rewards ability to offer an unparalleled choice and access to members making the program truly versatile and valuable.
The partnership driven operational model ensures high quality experience to members supporting FAB Rewards vision of rewarding every banking interaction meaningfully while maintaining a lean internal structure for program business and technology maintenance driving cost efficiencies and scale.
Branding
FAB’s comprehensive branding strategy ensures FAB Rewards visibility across all products, segments and marketing channels. All FAB products across Everyday banking, lending and digital promote rewards as part of its core enterprise message leveraging loyalty rewards to incentivize behaviors like digital interactions, online remittances, salary transfers, account balances and bundle products.
The programs strength lies not only in the rewards but also how these rewards foster meaningful benefits through targeted credit card propositions and long-term lifetime value creating market differentiation while deeply resonating to member’s needs.
Overall FAB Rewards has set a standard for loyalty programs regionally by combining a rich rewards ecosystem and strong digital engagement in a way that creates lasting value for FAB and its customers, a prime example of product innovation and a reflection of FAB’s dedication to offering customer centric digital first programs.
Nomination Title: FAB Rewards achievements in product innovation
