Global Fintech Interview with Beth McCoy, president of RewardOps

Can reward programs be tied to actual financial benefits for brands and financial services firms? How can this be enabled in a more wholesome manner? Beth McCoy, President of RewardOps weighs in:

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Hi Beth, tell us about yourself and your journey through the tech market so far?

With over 14 years of experience in the loyalty industry, I have helped launch and grow two loyalty startups, one of which evolved into a multi-million dollar enterprise with a global presence. My success is attributed to a results-driven approach that balances strategic vision and meticulous attention to detail, while nurturing meaningful relationships. My experience in various roles, including innovation, contract negotiation, strategic planning, technology implementation, and integration has equipped me with a comprehensive understanding of what it takes to excel.

Currently, I serve as the President of RewardOps, a Toronto-based software company operating across North America. Acquired by CORA Loyalty in 2020, RewardOps offers a Software-as-a-Service (SaaS) engagement platform that provides modular solutions for launching superior experiences with access to leading brand retailers. My responsibilities include ensuring the effective execution of the business strategy, fostering cultural alignment, and driving the efficient operations of the organization.

Before joining RewardOps, I spent the majority of my career at MyAXS Inc., a Canadian Loyalty and Incentive Company, and Air Canada. At MyAXS Inc., I strengthened customer loyalty, grew the client base through direct and reseller channels, integrated complex client and supplier data systems, and optimized margins, product offerings, and service levels by forging strategic alliances with key retailers. During my tenure at Air Canada, I introduced efficiencies and improvements through new technologies, surveys, and tools while also identifying opportunities for positive exposure through advertising and promotional initiatives.

How are customer loyalty programs evolving today? What expectations do customers have today in this regard?

At RewardOps, we believe customer loyalty programs will evolve in these three ways:

• Personalization makes a comeback. Businesses are refocusing on delivering tailored, relationship-driven experiences, aimed at building trust and ensuring customers feel valued and known. They are exploring experiential rewards, discounts on frequently purchased items, or tiered rewards options.
• Less fragmentation. Businesses will prioritize eliminating friction across every touchpoint, investing in full-service providers to ensure that the entire customer journey feels effortless and consistent.
• Rewards as currency. Consumers are increasingly viewing rewards as a form of currency, which means their value is integral to the shopping experience. Businesses that offer meaningful rewards beyond basic cashback options – like points, discounts, elevated experiences, or status – will lead the way, making loyalty programs a vital component of customer retention and growth.

Customers today expect loyalty programs to be seamless and intuitive. They want personalized rewards that feel unique to their behavior and interests, as well as flexibility in how rewards can be used. By focusing on personalization, removing friction, and treating rewards as currency, brands can create more meaningful, long-term relationships with their customers. Loyalty programs that deliver true personal value are not just nice-to-have anymore; they are essential for driving engagement, customer retention, and growth.

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How can marketing teams drive better loyalty programs when in B2B SaaS?

Offering diverse reward options and making redemption simple and transparent are key to keeping loyalty programs competitive and relevant.

It’s important for companies to offer consumers diverse reward options. For example, one of our credit union clients started with basic gift cards, later expanding into category-specific cards and other ways to use rewards like financial products/services and credit card payments. Members can apply their rewards to cover all or part of their insurance premiums, invest in savings products, make payments online, or pay off purchases. These options can help improve satisfaction and engagement, creating more personalized experiences.

Teams should also remember that redemption is as important as the personal value customers receive from rewards. Customers appreciate ease and speed in redemption, the ability to track and manage rewards, and flexibility in how they redeem them. Data from a bank client revealed that cards with unsatisfying redemption options struggled to stay competitive and often faced high attrition rates. Last year, the bank found that 14.1% of closed accounts had no reward redemptions in the year leading up to the closure, spiking to 68.3% in one of the months, and suggesting a lack of engagement with the loyalty program.

When using modern salestech and martech tools to drive loyalty programs, what should B2B teams keep in mind?

My biggest piece of advice for B2B teams is to avoid taking a one-size-fits-all approach to loyalty. Many loyalty programs today still rely on broad, simplistic segmentation, grouping consumers by product type, income, geography, and other general categories – failing to account for their actual spending habits and behaviors.

Consumers are multi-dimensional and sometimes unpredictable in how they spend their money. For example, how someone uses their credit card doesn’t fully define who they are, and who they are as a person doesn’t solely dictate how they use their card. Take a utilitarian product like gas: while price is often a major factor, a consumer’s decision might ultimately be influenced by convenience, such as a gas station being closer to home or unexpected factors like brand preference and loyalty rewards (i.e., fuel discounts). These nuances highlight why traditional segmentation falls short in capturing real consumer behavior.

Effective programs need to move beyond one-dimensional targeting and deliver personal value that reflects the complex characteristics of today’s consumers. Modern martech tools help by leveraging existing company data on customers to identify unique behavior and preferences. As the data accumulates over time – tracking spending patterns, actions, and redemptions – rewards should become more personalized. B2B teams that successfully adopt this approach see higher customer satisfaction, engagement and retention.

A few thoughts on using AI to drive loyalty programs in 2025?

I believe AI can be beneficial in loyalty programs if a company understands the basics and develops a solid strategy. Many companies view AI as a solution to all their problems, rather than a tool to enhance existing programs.

Some global brands you’d like to shout out to (and why) because of their loyalty programs and initiatives?

I’ve always thought of the airlines industry as pioneers of loyalty. Texas International Airlines was the first airline to launch a frequent flyer program in 1979 followed by United, Delta, Alaska Airlines, and Southwest. Over the span of 45 years, these companies would advance their program significantly into what we know and love today.

Companies can take inspiration from how airlines approach personalization, partnerships, and tiering:

• Airlines have successfully connected their loyalty programs with other travel-related needs, such as hotels, rental cars, and vacation packages, bringing even more value to their customers. This model expanded into other rewards like online shopping and dining rewards, allowing customers to earn more miles.
• They have strengthened customer loyalty through community-focused partnerships. Most major U.S. airlines allow passengers to donate their miles to charitable causes.
• Airlines use tiered loyalty programs to incentivize customers with benefits, such as priority boarding, seating upgrades, and access to exclusive lounges. Tiered rewards not only reward loyal customers but also shape their purchasing behavior.

By embracing proven strategies like personalization, tiering, and partnerships, companies can build stronger connections, drive engagement, and create value through thoughtfully designed programs.

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