Slyp, an Australian fintech company specialising in loyalty solutions, has announced significant updates to its loyalty platform, Go Rewards. The enhancements are designed to assist retailers in crafting personalised customer experiences through the use of real-time data and artificial intelligence (AI).

The newly introduced features include Auto Earn, Go Pilot, Data Drop, and Brand Hub. Auto Earn facilitates the linking of customers' credit or debit cards to their loyalty cards, thereby removing the necessity for scanning loyalty cards at checkout. This feature aims to streamline the checkout process and enhance customer convenience.

Go Pilot is an AI-powered shopping assistant that delivers personalised interactions based on receipt data. This feature is currently in beta testing with grocery partners. It is designed to provide tailored shopping experiences by analysing transaction data to offer relevant product recommendations and promotions.

Data Drop is another addition that connects SKU-level customer data from in-store point-of-sale (POS) systems to marketing and customer relationship management tools in real-time. This feature is intended to enable retailers to leverage detailed customer data for more effective marketing strategies and customer engagement.

Brand Hub, also in beta, allows retailers to source and distribute supplier-funded offers directly to loyalty program members. This feature is expected to provide retailers with new opportunities to engage customers with targeted promotions and offers.

Slyp is supported by all four major Australian banks and is focused on transaction enrichment to strengthen relationships between retailers and their customers. The company aims to leverage its platform to transform how retailers interact with their customers by providing tools that facilitate personalised and meaningful customer experiences.

Paul Weingarth, CEO and Co-Founder at Slyp, commented on the evolving role of loyalty in the retail sector. "As AI transforms how people shop and interact with brands, the role of loyalty is evolving to become a critical centrepiece. It’s no longer just about collecting points, it’s about building meaningful, personalised experiences that turn transactions into interactions," he said.

Weingarth also addressed concerns regarding the rapid pace of AI innovation in retail. "There’s a growing concern that the pace of AI innovation could leave many retailers behind. We’re focused on helping retailers navigate this change ensuring they’re equipped with the tools and data they need," he stated.

Highlighting the importance of data in modern retail, Weingarth remarked, "First-party data is no longer a nice-to-have - it’s the engine powering modern retail. Without it, even the best engagement tools fall short. What sets leading retailers apart are loyalty programs that go beyond points and discounts. The ones that surprise, delight, and build real relationships are the ones that will win in the age of AI."