08 July 2019

Northmill introduces a unique loyalty program


Northmill continues to introduce new products at a fast pace. Recently, the first product under the brand Rebilla was launched, a service called Rebilla Reduce for lowering interest rates on existing credits. All that the customers need to do, is to take a photo and upload the invoice to the Rebilla app. Now the fast-growing fintech company takes things to the next level by introducing Rebilla Reward which is a loyalty program that lowers the interest rate every time a customer pays their invoice on time, down to 4.69 percent. Northmill offers some of the market’s lowest interest rates and the purpose of the loyalty program is to encourage healthy credit behavior.

"As we developed Rebilla Reward, we listened to our over 200,000 customers and removed all the complexity, solely focusing on making it as easy as possible for customers to save money. It is a next-generation loyalty program. Not only do we already lower the interest rate for everyone with an existing credit, with Rebilla Reward we continue to reduce the interest rate every time our customers pay their invoices on time. That's how we contribute with real customer value," says Babel Poli, Product Owner, Rebilla.

Rebilla Reward requires no time or effort from the customers and it is automatically activated, which means that the customers will start to lower the interest rate immediately when the invoice is paid on time. Since most Rebilla customers also use automatic payments, in practice Rebilla Reward will mean that the interest rate will be lowered continuously.

"Rebilla Reward symbolises our quest to always develop customer-centric products that, with the help of technology, simplify and improve people's financial life. We have been technology-driven and highly cost-effective company since the beginning of our journey. We have always put a strong emphasis on being able to quickly scale up and we are now experiencing the benefits of our long-term investments. For that reason we also see great potential in the loyalty program," says Hikmet Ego, CEO and co-founder, Northmill. 

Northmill strives to automate every process possible and it is the company's in-house developed technology platform that laid the foundation for this unique loyalty program.

"We have our own team of data scientists that constantly explores new opportunities in a highly innovative environment. We encourage them to experiment with new AI- and ML-driven technology in order to test, improve and automate our processes," says Hikmet Ego.

Northmill continues to invest in key competence in IT, risk and analysis, and during the first quarter of this year, 21 people have been hired. The majority of whom are tasked to continue the development of the technology platform and creating new products. Recently, Northmill appointed the experienced risk and bank expert Daniel Roxö as new Chief Risk Officer.

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