With a new year (and a new decade approaching), it is time to look at what will be the next innovative technology in banking and loyalty. This year, banks have recognised more than ever, the need for loyal customers and the role that loyalty programmes have in maintaining the commercial health of a business.

As I look ahead, I see 2010 bringing an increase in demand for loyalty solutions not only for credit cards, but across banks’ entire products and services portfolio. The consolidated loyalty programme across a  portfolio will also look to deliver personalised offers and redemption alternatives at the point-of-sale and across other channels such as ATMs. This will help increase card and retailer brand loyalty and billings, while significantly lowering the cost of customer acquisition and retention.

To encourage uptake from customers, it will be crucial to have an easier enrollment process, elimination of membership fees, relevant instant benefits, rather than benefits based on points accumulation and extra benefits for new customers joining a programme. For businesses, utilising tools such as customer behavioral tracking to understand personal preferences of customers, POS (point of sale) as a channel to earn points in real-time, and creating a simpler way to participate in schemes will all be areas where companies can give customers a more personalised experience and be one step ahead of the competition.

Leveraged correctly, the best loyalty programmes in 2010 will be ones that enable members to utilise these new channels and technologies in real-time – delivering maximum convenience and satisfaction to the customer and ultimately driving long-term growth and profitability. Real-time loyalty is set to take off in 2010 –this is a trend reading clearly in my crystal ball!