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.