Challenges

The bank faced engagement and speed gaps across its referral and internal incentive programs, limiting acquisition and frontline motivation.

• Low personalization in internal sales programs: Branch and relationship manager incentives lacked gamification and contextual relevance.
• Ineffective HNI referral programs: Referral initiatives failed to attract high‑value clients due to delayed and non‑aspirational rewards.
• Slow referral gratification: Manual processes caused delays between referral success and reward delivery, reducing impact.
• Limited visibility for leadership: Management lacked real-time insights into branch-level participation and referral ROI.

The bank sought an automated, instant-gratification rewards engine that could drive both customer acquisition and employee engagement.

Personas Involved

• VP – Retail Banking: Owned growth strategy, referrals, and branch performance.
• Relationship Managers: Drove client acquisition, referrals, and upsell opportunities.
• Branch Tellers & Customer Success Staff: Participated in sales incentives and engagement programs.
• HR & Operations Teams: Managed employee engagement and gifting workflows.

Platform Setting & Implementation

The implementation focused on speed, automation, and branch-level visibility.

• Referral-based reward engine: Plum enabled instant rewards for successful customer referrals, including HNI client acquisition.
• Branch-level gamification: Leaderboards and milestone-based incentives increased competition and participation across branches.
• Instant digital gift distribution: Rewards were delivered in real time across banking services using digital gift cards.
• Analytics & tracking: Management dashboards provided real-time visibility into referral performance, branch engagement, and reward distribution.
• Automated employee gifting: Birthday and anniversary gifting was automated at scale, covering 2.3–3 lakh INR budgets with 7,000+ gifts issued annually.

The Solution

• Unified referral and incentive platform: Xoxoday Plum centralized customer referrals, employee engagement, and branch incentives into one ecosystem.
• Instant gratification for referrals: Real-time digital rewards improved appeal for HNI and mass‑affluent client referrals.
• Gamified branch sales programs: Branch-level challenges and rewards drove consistent participation.
• Automated gifting workflows: Birthday and anniversary gifting automation improved budget utilization and employee satisfaction.
• Real-time analytics: Leadership gained actionable insights into referral velocity, branch performance, and ROI.

Impact

• Client Referrals: 52% increase in new client referrals within 3 months.
• Branch Engagement: 3.5X growth in branch-level reward participation.
• Referral Efficiency: Referral turnaround time reduced by 40%.
• Rewards at Scale: 18,000+ rewards processed within 50 days.
• Employee Satisfaction: 80% satisfaction rate across internal programs.
• Gifting Optimization: 45% increase in budget utilization through automated birthday and anniversary gifting.

Conclusion

By implementing Xoxoday Plum’s real-time referral, incentive, and gifting automation platform, the BFSI institution transformed both customer acquisition and internal engagement.

The shift from delayed, manual programs to instant, gamified, and insight-led rewards resulted in faster referrals, higher branch participation, improved employee satisfaction, and significantly better utilization of engagement budgets.

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