Officials with PointBank announced Wednesday they will introduce a new social media rewards program, BuzzBanking, next year.
The program will provide rewards for customer participation as well as benefits for participating local and national merchants.
"Many people are expressing the desire to move to a local bank for more personal service, but they don't want to lose their rewards programs," said bank President Ray David Jr.
PointBank signed an agreement with Austin-based Fisoc, a company that offers banking solutions to many financial institutions interested in enhancing their customer service experience online or through social media. The company designs platforms for credit unions and banks statewide.
"It is a rich program that not only rewards them for using social media, but they can also get points they can later redeem through gift cards," said Jay Valanju, CEO of Fisoc.
Valanju said that in addition to Web access, the BuzzBanking platform will be available on mobile devices. The application saves a customer's check-in locations, their points and online offers.
Both David and Valanju said BuzzBanking allows customers at small banks to get services like they would through a large bank.
The program also will allow merchants to participate and see who is buying or visiting their locations.
Participating customers can share their reward experiences with friends online, David said, but they can also opt out if they choose to.
"It is used to benefit you, the consumer, and your privacy is protected," David said. "We will bring merchants' offers to you, but we won't tell them that you are there."
PointBank was founded in 1884 and has nine locations in Denton County.
David said the social media program is exciting.
"Banks have never thought of going in this direction before," he said.
David said testing of the new program starts in January with the company's employees. Customers are expected to get access to the service by March.
KARINA RAMÍREZ can be reached at 940-566-6878. Her e-mail address is kramirez@dentonrc.com.
