Page 23 - Banking Finance December 2021

PRESS RELEASE

J&K Bank Opts for Easyrewardz' Solution to Manage their PAN Bank

Loyalty and Rewards Program

J&K Bank, the universal bank of Jammu & Kashmir has chosen Easyrewardz, India’s leading CLM platform to implement
and manage J&K Bank’s pan bank loyalty & rewards program. This selection was done basis a rigorous RFP process wherein
the participation was seen from many leading loyalty players. The bank intends to implement Easyrewardz Loyalty
Management Solution for all its digital platforms including the Cards, e-banking, Mobile banking, Phone banking, POS
etc.

J&K Bank serves 64% of banking needs of UT of J&K and 60% of UT of Ladakh and acts as the lead bank in 12 districts of
J&K. It has a huge account base of 1.83 Crore (Deposits & Advance on Pan India basis, with 1.75 crore accounts (Deposit
& Advances) in UTs of J&K and Ladakh, thus reflecting dominance & vast coverage in the region with a total population
of 1.25 Crore.

Easyrewardz Loyalty & CRM solution for Banks, LPaaS Banking, helps banks run a PAN Bank or Card/Product specific
programs to help drive portfolio actions, activations, spends and digital channels adoption. Easyrewardz deploys a rule-
based engine that helps banks drive profitable actions.
"Customers of today expect a personalised banking experience and prefer to be rewarded in the form of discounted
products, complimentary gifts and points for next purchase. They want brands to know their preferences and offer a
value-driven experience. Our loyalty programs will not only help J&K Bank gain new customers with the latest banking
experience but will also reward & enrich the banking experience of previously less-advantaged customers,” says Soumya
Chatterjee, Co-founder & CEO, Easyrewardz.
Loyalty solution by Easyrewardz will meld in to J&K Bank’s digital push and help the bank create strategies to meet
modern-consumer digital banking needs by providing a holistic view of all facets of a customer's activity in order to engage
with them and convert into brand advocates.
“We are extremely proud that one of oldest private banks in the country has found value in our offerings & solutions. J&K
Bank has been looking forward to this association to deliver value to their customers and they found Easyrewardz to be
an excellent partner. We have been chosen through a rigorous RFP process with participation from leading loyalty players
of India,” says Ravi Shankar, Director – BFSI & Rewards, Easyrewardz.

Axis Bank and GuarantCo, through PIDG, Announce Guarantee

Platform with a Programme Size of USD 300 Million to Accelerate

Transition to Electric Vehicle Eco-system in India

Axis Bank, India’s third largest private sector bank and The Private Infrastructure Development Group (PIDG) guarantee
arm, GuarantCo, have announced the partnership and intent to execute an umbrella guarantee framework of USD 200
million (INR equivalent) with a programme size of USD 300 million towards accelerating the E-Mobility eco-system in India.
The programme was announced during COP26 in Glasgow, which was also announced by the UK Prime Minister as part
of the UK Clean and Green Initiative.
The framework covering the scope of the Electric Vehicle (EV) guarantee in India and the relevance of this partnership
was jointly announced by Amitabh Chaudhry, MD & CEO, Axis Bank, Philippe Valahu, CEO, PIDG and Yukiko Omura, Chair
of the Board of GuarantCo and PIDG Board member. The definitive documents, subject to internal and regulatory
approvals, are expected to be formally signed by the end of 2021.
The programme includes Capex financing for a wide range of entities engaged in the manufacturing, distribution or
servicing of electric vehicles, batteries, components and charging infrastructure. The ramp-up period of the programme
will be two years from the date of signing.

BANKING FINANCE | DECEMBER | 2021 | 23