Singapore Telco Drives 700K+ MAU With Perx

Neo Bank Case Study: How Singapore’s Leading Digital Bank Slashed CAC 33× and Drove $6.6M in Spend

Singapore’s pioneering digital bank transformed gamified engagement into a massive revenue engine. By leveraging the Perx Lifestyle Marketing Platform, this bank successfully increased product usage and reduced customer acquisition cost (CAC) from a regional average of $303 to just $9.

Despite a record-breaking launch, the bank needed a scalable solution to maintain high daily active usage (DAU) and incentivize frequent card spend. Traditional loyalty programs often fail to influence everyday financial behavior. Trust Bank required a behavior-led approach to:
– Incentivize high-value actions without massive marketing burn.
– Lower the high CAC typically associated with the Singaporean digital banking sector.
– Drive virality through organic customer referrals.

To address these challenges, the bank deployed a sophisticated gamified engagement layer powered by Perx. This allowed the bank to turn routine financial activities into rewarding, habit-forming journeys. By utilizing Perx’s adaptive rule engine, htey managed up to 15 simultaneous campaigns, including digital Stamp Cards, automated reward nudges, and hyper-personalized push rules. A key component was the “Refer, Spend & Win” mechanic, which combined organic virality with transactional milestones. This framework allowed the bank to activate non-responsive users and motivate spending at scale, all while managing a complex ecosystem of over 400 merchant rewards through a single platform.

Perx-powered campaigns generated $6.6M in transaction value, delivering 2× ROI on platform costs while sustaining a 70%+ engagement rate and 72% returning customer rate across the user base. The bank managed 400+ merchant rewards and used Perx’s adaptive rule engine to keep non-responsive customers engaged. A hybrid “Refer, Spend & Win” campaign drove 25,200 referrals, 32,000 new customers, and 1.5M overseas transactions, slashing CAC from the regional benchmark of $303 to just $9—a 33× reduction. These results show how behaviour-led nudges can dramatically improve economics, retention, and topline impact for digital banks.

See how digital banks reduce CAC and boost revenue with behaviour-led engagement. Download the full case study.

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Strands and Perx Technologies Partner to Elevate Financial Services with Advanced Customer Engagement

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SINGAPORE, July 23, 2024 – PRESS RELEASE

Strands and Perx Technologies Partner to Elevate Financial Services with Advanced Customer Engagement

New Collaboration to Leverage AI and Data Insights, Enhancing Customer Loyalty and Financial Wellness Across Key Regions.

Strands, a leading provider of AI-driven financial management solutions, is pleased to announce a strategic partnership with Perx Technologies, the world’s first intelligent and autonomous customer engagement and loyalty solution provider. This collaboration aims to integrate Strands’ advanced financial management capabilities with Perx’s AI-driven customer engagement and loyalty platform, Connect+. This synergy will empower financial institutions across APAC and the Middle East to deliver a personalized, seamless, and data-driven experience that enhances customer loyalty and financial wellness.

The Objective of the Partnership

The partnership between Strands and Perx Technologies seeks to revolutionize the financial services landscape by leveraging Strands’ data analytics and AI capabilities with Perx’s autonomous loyalty engagement platform. This synergy will deliver personalized, engaging, and gamified experiences, fostering increased loyalty and deeper customer relationships for financial institutions.

Strands will utilize its advanced data analytics to create gamified journeys, clustering users into specific audiences based on relevant metrics and triggering engagement events. Perx will respond to these triggers with fun, meaningful, and hyper-personalized campaigns including incentives and rewards from partnering merchants to drive more transactions. These micro-experiences ensure each interaction is instant, engaging, and enjoyable, leading to increased customer lifetime value.

“Integrating personal financial management data into loyalty and engagement campaigns is a game-changer. It allows brands to roll out hyper-personalized in-app engagements that empower customers to make smarter financial decisions while enhancing their engagement with the respective financial institutions,” said Anna Gong, Founder & CEO of Perx Technologies. Sharing the vision for this partnership, she added, “This partnership with Strands will not only elevate the customer experience but also drive deeper loyalty and higher lifetime value. At Perx, we believe that by leveraging the power of financial data securely, we can empower our clients to create meaningful, lasting relationships with their customers, positively improve consumer financial behavior, and fuel growth for our clients across industries.”

Benefits to Financial Institutions

Increased Customer Engagement & Loyalty: By offering personalized rewards and incentives through Strands’ enriched data capabilities, financial institutions can foster greater loyalty among their customers.
Improved Customer Insights: The integration of Perx’s Loyalty Engagement Platform with Strands’ data analytics will provide financial institutions with deeper insights into customer behavior, enabling more effective, and targeted marketing and engagement campaigns.

“We are thrilled to partner with Perx Technologies to bring a new level of personalization and engagement to the financial services industry. By combining our AI-driven financial management solutions with Perx’s innovative loyalty platform, we can help financial institutions create more meaningful interactions with their customers. This collaboration will enable us to deliver highly personalized and engaging experiences that drive customer loyalty and financial wellness,” said Edoardo Borsari, Managing Director of Strands.

About Strands

Strands is a global leader in AI-driven financial management solutions, providing innovative tools that enable banks and financial institutions to deliver personalized customer experiences and deepen their customer relationships.

About Perx Technologies

Perx is the world’s first intelligent and autonomous solution for customer engagement and loyalty. Powered by AI and data-driven insights, the Perx Connect+^TM Loyalty Engagement Platform enables brands to engage customers in ways that are both deeply meaningful and monetizable. Headquartered in Singapore, the platform synergizes gamification, behavioral science, and advanced engagement mechanics to support brands in elevating customer actions and interactions using data-driven experiences.

By designing customized, incentive-driven journeys, Perx Technologies simplifies customer acquisition, activation, monetization, and growth, cultivating enduring loyalty and remarkable user experiences, and solidifying its position as an industry trailblazer. The API-first platform enables businesses to focus on use cases and creative engagements across a brand’s disparate marketing technology stack in a matter of minutes.

CUSTOMER SUCCESS STORIES

Large Retailer + Perx

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Telecom Giant + Perx

Telecom giant re-thinks customer loyalty in the digital age

Top Asian Bank + Perx

Top Asian bank leverages an innovative engagement platform to achieve S$24M in new revenue

Leading Indonesian Digital Bank Chooses Perx to Transform its Customer Engagement Strategy

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SINGAPORE, June 11, 2024 – PRESS RELEASE

Leading Indonesian digital bank, Jenius chooses Perx to transform its customer engagement strategy

The bank’s new loyalty engagement strategy aims to drive maximum customer lifetime value through rewarding loyalty experiences, instant gratification, and gamified customer interactions
The collaboration will enable Jenius from Bank BTPN to boost customer engagement with Perx Loyalty Engagement Platform

PT Bank BTPN Tbk (Bank BTPN) is spearheading the bank’s mobile-led consumer banking services with its flagship Jenius, as pioneer of digital banking in Indonesia.

Jenius has partnered with Perx Technologies to transform traditional banking experiences that are purely driven by needs and wants to a fun and game-like experience.

By introducing the concepts of gamification and instant gratification into every day personal banking experiences the Perx Loyalty Engagement Platform and Jenius aim to transform and uplift the quintessential thought relationship a consumer has with his or her lifestyle banking needs.

With a diverse array of rewarding experiences, gamified savings milestones and a personalized loyalty program that keeps rewarding customers for their every action, Jenius aims at driving positive behavioral hacks into the community such as building a nest egg or better managing impulsive spending habits with full transparency.

Moving away from existing as ‘just another digital bank’ and transforming into a financial solution for the digital savvy audience Jenius aims to engage its customers beyond their regular banking needs by becoming an enabler to the lifestyle choices its customers make daily.

At the core of this partnership lies the goal to drive maximum customer lifetime value through a dynamic and rewarding loyalty program, mobile customer journeys studded with instant gratification and gamification allowing the bank to nudge and influence positive customer behavior.

Driving this customer experience focused personal banking model is an engagement strategy that is continuous and non-transactional. Powering this strategy through the various mobile-first services Jenius offers is the Perx Loyalty Engagement Platform.

“As a digital native bank, the app experience is paramount to Jenius’ success. By collaborating with Perx, we are able to leverage innovative technology to provide a fun, personalized, and rewarding experience across all customer touchpoints throughout their entire customer journey. This is essential to create retention, engagement, and customer-first service experience – which is ultimately what sets us apart from others in the industry,” said Febri Rusli, Digital Banking Product & Innovation Head at Bank BTPN.

“In the experience economy, digitally savvy consumers expect personalized and meaningful interactions that keep them excited enough to return. We are delighted to deliver these ‘Aha moments” in every customer journey a Jenius customer will experience going forward. We are thrilled to partner with Bank BTPN to create and deliver an engaging customer experience for everyone served by Jenius in Indonesia.” said Anna Gong, Founder and CEO, Perx Technologies.

“Jenius is embarking on one of the most exciting customer experience transformation projects I have seen and delighted that Jenius chose to partner with Perx.” said Jovin Shen, Global Sales Director at Perx Technologies.

Other Sources:

About Perx

About Bank BTPN

PT Bank BTPN Tbk (Bank BTPN) is a foreign exchange bank and is a merger between PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) and PT Bank Sumitomo Mitsui Indonesia (SMBCI) in February 2019. Bank BTPN serves various segments in the banking industry, from retail to corporate customers, including retirees, micro-, small- and medium-sized enterprises (MSME) and productive underprivileged communities; the consuming class segment; and the corporate segment. Bank BTPN provides the services through business units, such as BTPN Sinaya—a business unit for wealth management, BTPN Purna Bakti—a business serving retirees, BTPN Micro Business—a business unit serving microbusinesses, BTPN Business Banking—a business serving small- and medium-sized enterprises, Jenius—a digital banking platform serving the consuming class segment, and the corporate business unit, which serves national, multinational, and Japanese companies. Bank BTPN also has a subsidiary, namely PT Bank BTPN Syariah Tbk, which focuses on serving productive underprivileged customers. Bank BTPN also regularly provides training sessions and information for customers through the Daya Program—a sustainable and measurable empowerment program—to improve customers’ capacity so they can grow and have a chance to live better.