How Australian Banks Use Loyalty and Cashback Programs to Attract and Retain Customers in 2025

In 2025, Australian banks are facing unprecedented competition not only from each other but also from digital-first challengers and fintech platforms. To stay competitive, banks are heavily investing in loyalty programs and cashback systems, turning them into primary tools for both customer acquisition and long-term retention. Industry data shows that customer churn in Australian banks was averaging 14% annually before the mass adoption of structured loyalty programs. After large-scale investments in cashback-driven systems, churn has dropped to around 9%, representing a significant improvement in retention. Achivx: Open-Source Flexibility for Loyalty Systems A central feature of the loyalty ecosystem in 2025 is Achivx, available at https://achivx.com , an open-source platform that allows banks and businesses to design modular reward structures. Unlike proprietary systems, Achivx provides transparency in code and flexibility in integrations. For Australian banks, Achivx has be...