Revolutionizing customer loyalty with rewards

First Horizon Bank Uses FIS AI 360 to Usher In a New Era of Customer Engagement

April 18, 2024

At a glance

Objective

Modernize First Horizon Bank’s customer rewards program to strengthen client relationships and differentiate services from its competitors.

FIS Solutions

FIS AI 360

Results

Increased checking product growth, higher customer balances and deeper client relationships.

Impact

FIS solutions have empowered First Horizon Bank to deliver a simple, yet distinctive value proposition, giving the bank more market share, better customer engagement and smoother operational workflow.

Advancing First Horizon Bank’s customer relationships

First Horizon Bank is a leading Southeastern financial institution with 400+ banking centers and over US$80B in assets. The bank fundamentally views having a thorough understanding of what customers want and need as a key differentiator and builds products around its relationship solutions.

Driven by that mission, First Horizon Bank sought to modernize its customer rewards program to further deepen client relationships and set itself apart from regional and national competitors. That search ultimately led the bank to deploy FIS® AI 360 to reward its customers based on the total value of their banking relationship – not merely on transactions conducted.

Differentiating with rewards that recognize the relationship

First Horizon embarked on a several-month-long process to explore the variety of rewards programs offered across the industry. It chose AI 360, a highly configurable solution that recognizes account holders for the total value of their relationship rather than rewarding only for purchasing activity in a specific account area. With AI 360, customers are rewarded across factors like types of accounts held, account balances and engagement with products and services. The deeper the relationship had by the customer, the richer the benefits will be.

Finding a partner that understands the vision

Tyler Craft, SVP at First Horizon Bank, notes FIS' clear understanding and collaborative approach.

“Beyond the foundational knowledge that FIS could deliver our desired rules engine product, the FIS team’s clear understanding of our vision made the difference. From the initial meetings, First Horizon and FIS teammates were building on one another’s ideas and collaborating to envision the path to delivery and growth over time.”

The noticeable payoff of rewarding the relationship

Since implementing AI 360, First Horizon has seen impactful results. Increases in checking product growth, average customer balances and deeper relationships in the new product set demonstrate the program's success. Looking ahead, the bank plans to expand AI 360 usage beyond the checking product suite, utilizing its rules engine and integrations across bank data and systems.

Checking product growth surge

Boosted average customer balances

“As we saw in our decision-making process, FIS implicitly understood our vision for customer engagement. This vision alignment confirmed that FIS was the right partner to develop our relationship rewards platform.”
Tyler Craft, SVP, First Horizon Bank
SIMPLY FINTECH EDUCATIONAL SERIES
Transform your business with AI
Related client stories

SIMPLY FINTECH EDUCATIONAL SERIES

Transform your business with AI

From machine learning to generative AI, uncover the ways your firm can utilize this technology to expand its customer base and unlock new revenue opportunities in this exclusive educational series.

Access the series