The credit card industry has come a long way since the introduction of Diners Club card back in the 1950’s. Frank McNamara would hardly believe the industry that would develop out of his First Supper. Scott Henry, subject matter expert in the credit card industry and Engagement Manager at FischerJordan, discusses in his soon to be released white paper the evolution of credit card rewards programs from 1984 to the present, and their future place in the industry.
The marketing advantage between large credit card issuers derived from proprietary loyalty programs has eroded in recent years due to program commoditization. Additionally, programs have been increasingly focused on cost containment to maintain product profitability. Together, these two trends will spur a revolution of program structure and management focused on growth through program externalization.
Mr. Henry goes on to discuss that large programs will grow through coalition programs, white-labeling and association rewards, which will provide the models of accelerated industry externalization. This evolution will bring about changes in the perception of loyalty programs both externally to the customer and internally for the corporation. Externally, the largest loyalty programs will emerge bigger, permeating multiple industries, while internally, program value will be unlocked, turning a cost center into a profit-generating activity
For more information, to receive a copy of the paper, or to schedule an interview with Mr. Henry, please contact:
About Scott Henry
As an engagement manager at FischerJordan, Scott Henry has executed several high impact projects involving loyalty program management and transformation at Fortune 100 financial services firms. Prior to joining FischerJordan, Mr. Henry was an M&A attorney involved in multi-billion dollar transactions and a financial product analyst at Deutsche Bank specializing in domestic equities. Mr. Henry holds a JD/MBA from Wake Forest University.
FischerJordan, www.fischerjordan.com , headquartered in New York City, is a boutique management consulting firm founded in 2004 by alumni of the Mitchell Madison Group and Inductis. FischerJordan has delivered hundreds of millions of dollars of bottom line impact to Fortune 100 financial services companies through its focus on analytics-driven marketing, rewards/loyalty transformation, and reengineering strategy.