The future of loyalty in banking: How customers vote with their wallets

In this episode of Branching Out, host Bill Dworsky and guests Ramya Murali and Deirdre O’Connell explore retail banking customer loyalty. Ramya defines loyalty as a mutually beneficial relationship, while Deirdre emphasizes formal programs ("big L" loyalty) and broader engagement ("little L" loyalty). Insights from a consumer loyalty survey highlight the importance of exclusive partner experiences and Gen Z's preferences, and how this generation is shaping the future of loyalty programs. The discussion underscores the need for agile, personalized loyalty programs and the role of partnerships in extending brand relationships. Effective execution requires cross-functional alignment and clear communication of value. The conversation also addresses the complexity of executing loyalty programs, requiring cross-functional alignment and the role of employees as brand ambassadors.

Om Podcasten

Welcome to Branching Out, a podcast series from Deloitte’s Retail Banking practice. Hosted by Kristin Korzekwa and Bill Dworsky, the series explores trends and insights in retail banking through conversations with leaders from across the retail banking and financial ecosystem, touching a wide range of topics from digital banking and FinTech, marketing and brand, talent diversity and career models, to the evolving role of branches. Tune in to hear about what’s ahead in retail banking, emerging challenges for banking competitors in the marketplace, and ways to adapt and evolve—no matter what your current role or where your future path may lead.