MiRewards
Why MiFinity Chose to Build, not Buy, its Loyalty Platform
MiFinity has launched MiRewards, a proprietary loyalty programme developed in-house to strengthen customer retention, engagement, and long-term partner value. In this Q&A, Paul Gent, Chief Marketing Officer at MiFinity, explains the platform's strategic rationale, how behavioural insights inform its design, and why loyalty has become a critical growth lever across both B2C and B2B channels.
Paul, what was the thinking behind launching MiRewards, and how far back does this idea go?
From the point of joining MiFinity, it was clear that loyalty and retention would eventually need to become core pillars of the growth strategy. Early priorities were focused on building marketing fundamentals, platform capability, and regulatory resilience. A loyalty programme was always part of the long-term vision, but only to be introduced once the business had the scale, data maturity, and operational discipline to execute it properly. MiRewards reflects that shift from acquisition-led growth to a more balanced model centred on lifetime value, behavioural insight, and sustained engagement.
Loyalty programmes are hardly new. What makes MiRewards different?
You’re right, the concept of loyalty isn’t new, the differentiation lies in how it’s applied. MiRewards has been designed specifically around MiFinity’s customers, operating environment, and regulatory framework, rather than adapted from a generic third-party product. Te programme is driven by behavioural intelligence. We analyse digital body language, how users interact with the platform over time, and reward behaviours that signal long-term value. Tat moves MiRewards beyond transactional incentives into a more adaptive, insight-led engagement model.
Why was building MiRewards in-house so important compared with using an existing platform?
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Control was critical. Off-the-shelf platforms are built for scale, not specificity, and that limits flexibility, particularly in regulated financial services. By building MiRewards in-house, we control the roadmap, the data, and the pace of iteration. Tat allows us to test, optimise, and evolve the programme based on real customer behaviour, rather than vendor constraints. It also ensures loyalty mechanics align precisely with our compliance, product, and commercial objectives.
How is MiRewards structured in practical terms?
MiRewards is a four-tier programme designed to reward customers as their engagement deepens. Users earn MiPoints for a range of actions, not just transactional activity.
Initially, points can be redeemed as cash credits directly into a customer’s account, providing immediate value. Over time, we’ll expand into partner-led and ecosystem-based rewards. Te structure is modular by design, allowing the programme to evolve without disrupting the user experience.
You’ve mentioned rewarding more than just transactions. Why was that important?
Transactions alone don’t capture intent or long-term value. Many of the most meaningful behavioural signals come from actions such as completing KYC, verifying payment methods, or making a first deposit. Tese steps often feel like friction points. By rewarding these, we reposition compliance and onboarding as positive milestones. Tis
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