BMO Financial Group is planning to have conversations with customers on what their expectations are for the Air Miles loyalty rewards program.
On Friday, BMO Financial Group announced that it entered into a deal with LoyaltyOne, Co. to acquire the loyalty program. The deal is valued at around US$160 million and is now subject to closing conditions.
Erminia Johannson, the group head of North American Personal and Business Banking at BMO, said in a television interview with BNN Bloomberg on Friday afternoon that Canadian consumers are “very passionate about their loyalty programs.”
She said consumers can expect future improvements to the newly acquired loyalty program.
“Right now, I would say we're really looking to get through this process and have those conversations with customers and understand what their expectations are moving [forward] because loyalty has changed over the past 30 years,” Johannson said.
“We want to be relevant and focused on what their [customers] needs are, particularly as we've talked about in this environment.”
Johannson said she hopes that the deal will be finalized in the next two months.
Check out the full video at the top of the article to learn more.
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