Higo Bank's PointInfinity Surpasses 230,000 Members in Just Four Months

The Rise of Higo Bank's PointInfinity Service

Higo Bank, a prominent financial institution rooted in Kumamoto Prefecture, has made headlines following the successful implementation of its new point management system, PointInfinity, developed by Hitachi Solutions. In just four months since its launch, the service has attracted an impressive 230,000 members, demonstrating a significant shift in customer engagement and loyalty.

Innovations and Features of PointInfinity

In the face of challenges such as a declining youth population and the growing competition from online banks, Higo Bank recognized the need to innovate its services to attract and retain personal customers effectively. By revamping its offerings, the bank aimed to enhance customer interactions through daily financial transactions. These efforts have culminated in the introduction of Higin Coins, which can now be exchanged for local points or universal rewards under the new paradigm.

The traditional rank-based benefits system is still in place, but with a twist: users can now earn Higin Coins for actions like account transactions. This shift not only provides a more engaging user experience but also integrates local services, aimed at invigorating the regional economy through these rewards.

PointInfinity is equipped with capabilities for comprehensive management of Higin Coins, rank systems, and the ability to adapt to new exchange options and promotional campaigns. This flexibility allows Higo Bank to respond promptly to customer needs and market changes.

Achievements within Four Months

1. A seamless exchange system for Higin Coins has been established, allowing users to convert them into local points, common rewards, and more, significantly enhancing user convenience.
2. By offering not only traditional benefits such as interest rate preferences and fee reductions but also new customer experiences, Higo Bank managed to exceed 230,000 members shortly after launching the new service.
3. The integration of the current smartphone app, accounting systems, and informational systems has ensured that the required performance and security standards are met satisfactorily.
4. The ability to adapt and expand new exchange options for Higin Coins—through collaborations with local businesses and organizations—has extended customer engagement and facilitated value co-creation with the community.

Higo Bank's Vision and Future Directions

Higo Bank operates under the philosophy that the presence of diverse local banks significantly influences the future of communities. This philosophy drives its mission to connect residents and businesses, creating opportunities for younger generations to thrive.

In March 2024, Higo Bank plans to launch the Higo Bank App, alongside introducing a new local payment application named Kumamon Pay, aimed at further enhancing customer convenience and uplifting the regional economy.

Part of their renewed services includes transforming the previous Waku Waku Club into a more dynamic reward system, allowing clients to earn Higin Coins that can be exchanged for local points, universal rewards, or incentives from local businesses and organizations. This strategy is designed to promote consumption circulation within the region while strengthening the value returned to customers.

The selection of PointInfinity as a foundational service stemmed from a thorough evaluation of functionality, cost, schedule, performance history, safety, and development framework. Ultimately, its rich functionality combined with Hitachi Solutions' solid proposal capabilities and expertise in the domain led to its adoption.

Conclusion

PointInfinity is much more than just a point management solution; it encompasses a full spectrum of digital marketing processes, including point allocation, utilization, membership rank management, and campaign oversight, supplemented with AI-driven recommendations. Higo Bank's partnership with Hitachi Solutions exemplifies a successful approach to digital transformation across financial services, highlighting their commitment to fostering local enterprise engagement and creating sustainable customer value.

For more information about PointInfinity and its capabilities, visit Hitachi Solutions.