CaribPR Wire

PORT OF SPAIN, Trinidad and Tobago, Feb. 22, 2019 /PRNewswire-HISPANIC PR WIRE/ – Trinidad-based First Citizens Group has received the Premium Partner designation from fintech and insurtech company novae and leading payment technology company Visa for being one of the first banks in the Caribbean to adopt Visa Loyalty Solutions (VLS), the white-label digital loyalty platform the two companies recently co-created.

Over the years First Citizens has introduced a number of innovations locally, including Internet banking and mobile banking. It has also been recognized on several occasions for excellence in innovation, communications technology and e-commerce by the Energy Chamber of Trinidad and Tobago.

VLS is a user-centric, universal, cross-border, all-digital, mobile-first, white-label loyalty platform for banks that enables consumers and merchants to redeem points anytime, anywhere, from any device (mobile, desktop or wearable) and using multiple payment methods (credit, debit, points or split payment), while offering banks superior customer care, same-day activation and easy administration.

Thanks to VLS’s single, smart payment solution on an invisible and securely encrypted payment platform, First Citizens clients will be able to register rewards as digital currency that can be used alone or split with other payment methods, such as credit or debit cards registered on the platform, to make payments online and contactless in-store around the world.

Finally, by integrating artificial intelligence and machine learning, VLS’s technologies will help First Citizens better analyze the interactions and purchase behaviors of its clients to present increasingly relevant offers, while retaining contact information, payment and travel preferences.

novae not only created the technology behind the digital platform, but also the program’s impressive network of international travel rewards, to which First Citizens customers will now have access. A powerful metasearch engine and partnerships with major worldwide travel aggregators enable users to get preferential pricing and exclusive deals at more than 400,000 hotels in 25,000 cities; 70,000 flights to 1,700 destinations on 130 airlines; 500 car rental companies at 30,000 locations in 170 countries; 2 million vacation rental properties in 190 countries; and 10,000 tours and other entertainment options in 90 countries.

First Citizens Group’s VLS Premier Partner designation is the latest of several awards and recognitions the bank has received. The bank was awarded the Best Bank in Trinidad and Tobago by Euromoney Award for Banking Excellence 2016 and also received an affirmed rating of BBB+/A-2 from Standard & Poor’s. Other awards bestowed on the bank over the years include Safest Bank in the English-speaking Caribbean in 2015, 2011 and 2010 (Global Finance Magazine); Best Bank In Trinidad & Tobago in 2015, 2014, 2012, 2010 and 2009 (World Finance); Bank Of The Year 2015 and 2009 (The Banker Magazine) and Bank of The Year in 2009 (Latin Finance).

“First Citizens Group is proud to have received the Visa Loyalty Solutions Premium Partner designation, which recognizes our bank’s positioning as a first adopter of cutting-edge digital and mobile solutions,” said Avril Edwards, General Manager of Electronic Banking for First Citizens Group.

“Visa Loyalty Solutions offers First Citizens a seamless and flexible digital experience that adds value and provides an unmatched customer experience,” said Ricardo Tafur, Vice President of Consumer Products for Visa in Latin America and the Caribbean.

“VLS gives First Citizens an important differentiator in this competitive retail banking market,” said Jorge Lemus, SVP and Group Country Head, Caribbean and Central America for Visa.

“As a pioneer in mobile and Internet banking, First Citizens has always offered customers cutting-edge solutions to meet their banking needs. With Visa Loyalty Solutions, they have added a powerful tool in their arsenal to maximize loyalty, boost spend and increase operational efficiency,” said Facundo Mendez, Managing Director of Enterprise, Growth and Loyalty for novae.

Photo - https://mma.prnewswire.com/media/825444/novae_Visa.jpg

This white-label solution, developed for Visa’s bank partners, enables issuing member banks of any size to offer top-of-the-line rewards and customer care programs they can adapt to their loyalty strategies and brand as their own. Visa Loyalty Solutions features a user-friendly mobile app and web portal, as well as chat and voice, to make points redemption and customer service faster and easier for cardholders and financial institutions around the region.

“Visa Loyalty Solutions offers a seamless and flexible digital experience that adds value for consumers, participating businesses and issuers, and can be easily adapted to each of our bank partners’ loyalty strategies,” said Ricardo Tafur, Vice President of Consumer Products for Visa Latin America and the Caribbean. “We are committed to innovate in order to provide the best consumer experience,” he added.

This new digital platform offers cardholders the option to redeem points and get preferential deals at more than 285,000 hotels, hundreds of airlines and a wide network of car rental companies–not to mention tours, amusement parks and other entertainment options–around the world.

“At novae we want to bring our partners disruptive technologies that are user-friendly, efficient and reliable. That’s why we’re so excited to be co-creating platforms and applications with Visa to create nimbler, simpler and smarter experiences for merchants and consumers,” said Sergio Arana, novae’s CEO and founder.

The platform’s innovative and flexible redemption process allows cardholders to either use their points or combine them with their cards to complete their purchases. Amounts are displayed in U.S. dollars as well as points to give cardholders a better idea of the real value of their purchases. Online and mobile customer service centers provide assistance and information via voice, live chat and video.

To experience the new Visa Loyalty Solutions, click here.

About Visa
Visa Inc. (NYSE: V) is the leading digital payment company. Our mission is to connect the world through the most innovative, reliable and secure payment network that empowers people, businesses and economies to thrive. Our advanced global processing network is capable to handle more than 65,000 transaction messages per second. The company’s continuous focus on innovation is a catalyst for rapid business growth, connected through any device, as well as the engine behind a cash-free future for everyone, everywhere. While the world moves from analog to digital, Visa applies its brand, products, team, network and scale to the task of shaping the new future of commerce. For more detailed information, please visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews. For news in Latin America, please visit @VisaNewsLatam.

About novae
novae leverages disruptive technologies to make mobile transactions, communications and other business-consumer interactions faster, easier and more enjoyable on any platform. Headquartered in San Francisco and with a business and innovation hub in Miami, an InsurTech hub in London and shared service centers in Buenos Aires and Bogotá, novae has clients across the Americas and Europe. novae is part of a&a Co, a global equity investment company based in San Francisco and focused on creating, acquiring and investing in ventures in the artificial intelligence (AI), mobile services and payments/loyalty realms. novae’s strategic partners include Visa, CyberSource, BPP, Expedia and Canopius Syndicate at Lloyd’s. Investors in novae include the private debt and equity capital funds CASEIF III LP and ExWorks Capital LLC. For more information, visit wearenovae.com (mobile-only experience) or Twitter or LinkedIn.