At the end of 2019, we announced Aura™ , our new feature and function-rich digital member experience, loyalty and rewards platform, designed exclusively for credit unions and your members. The platform, which is being developed and launched in partnership with STACK, a leading fintech disruptor, will accelerate innovation in your credit union.
That’s because Aura isn’t just another card that will sit in your members’ wallets – it delivers a new next-level offering for consumers and gives your credit union a new competitive advantage. Here are five reasons to choose Aura, which is slated to launch in a few months.
1. Offer perks to your members and new opportunities to your commercial clients
The Aura app rewards members for everyday purchases through partnerships with both global and local brands, while offering an engaging digital experience. The rewards program also creates opportunities to strengthen relationships with major retailers and potential banking customers, while providing a rewards platform to commercial clients who may not have the scale to offer one..
2. Provide money management and financial wellness tools
Aura symbolizes providing a positive financial aura to your members. The app includes financial wellness tools such as saving goals for travel, bills and life events, as well as showing members their spending trends and habits. Aura will help your members gain insight into their spending habits and become more financially literate.
3. Gain valuable insights on your members
The analytics from the Aura app enables credit unions to leverage data collected through the rewards and loyalty program to generate member insights and enable credit unions to curate service offerings. This includes cross-selling and promotion of existing products and services, helping you retain and attract new members with tailored offerings.
4. Attract new members
Aura can help you remain competitive in the market by providing a next-level offering for consumers like millennials, students and underbanked new Canadians. The loyalty program provides a mechanism to provide incentives and referrals to attract new members, while retaining existing members. You can also attract millennials with must-have offerings such as bill split and peer to peer transfers.
5. Deliver on your credit union strategies
Credit unions can leverage the features and functionality of Aura to augment their existing and future digital banking strategies and experience for members. Aura also provides the opportunity to automatically load patronage/profit share on the card as a creative way to distribute patronage and rewards.
Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services.
Other posts by Celero