First-mover : Opportunities brought by Loyalty Points Redemption
To enhance customers’ loyalty and to drive repeat purchases, membership system is one of the best solutions. However, limited product range and sales points of SMEs would be a contrain to them as membership system usually costed a high operation cost. The number and active rate of members also concern businesses, which also contribute to their hesitation of developing a membership system. Understanding these challenges, Kim Mak created “KeyPoints”, an exchange platform for customers to manage and redeem their loyalty points, while on the other hand, to provide opportunities for businesses to attract new members at a lower cost.
As a first-mover, Kim and his team needed a bank with flexibility and diversity to support the company's daily operations and cash flow management. “This is DBS digibanking” is exactly what they need.
As Kim said, ”To go faster and further, we need a bank which is fast-paced like us. As an e-commerce platform, we need to handle a large number of transactions with various partners and customers. A supportive online banking system helps a lot.”
Digital banking solutions to support high transaction volume to minimise manpower and resources
KeyPoints aims to innovate with the simplest, and most cost-effective loyalty points exchange platform to the market. By collecting customer feedback and realising the current market deficiencies and painpoints, it provides insights for KeyPoints to enhance their product continuously and expand to more merchants.
With more businesses bring greater needs in banking services to manage an increase in transactions and payment / collection transfers. “DBS IDEAL online banking platform is a great tool. The personalised dashboard allows me to set up according to my preference, so that I can check our key account information upon login. I can easily manage all my banking needs on the mobile anytime, anywhere, and complete local and overseas transactions at my fingertips, making operation smoother and easier.” Said Kim.
Network is the key to success
Apart from innovation and opportunities, networking is also important for start-ups to expand their business opportunities and promote their products and services.
Through DBS BusinessClass, an engagement program designed for SMEs , KeyPoints introduced their concept and business model to several thousands of peers, creating a chance to approach their potential customers directly.
“Our business model needs a large and diversified customer based, which is exactly what DBS BusinessClass can provide. This community helps us to enhance our business network and foster business development”, said Kim.
The best business partners should walk side by side to maintain a sustainable relationship. The intelligent and intuitive banking services and solutions DBS offers allow KeyPoints to manage their banking needs easily so that they can focus on their business growth and development.