Novus Loyalty Secures ₹88 Crore Contract from Central Bank of India

Novus Loyalty Limited (BSE: 544735), a leading provider of customer engagement and loyalty technology, has announced a major strategic win in the Banking, Financial Services, and Insurance (BFSI) sector. The company has executed a Service Level Agreement (SLA) with the Central Bank of India to manage its digital loyalty rewards ecosystem.

The contract was awarded following a competitive bidding process via the Government e-Marketplace (GeM) portal.

Contract Scope and Financials

The engagement involves the end-to-end deployment and management of a comprehensive loyalty program across the bank's primary digital touchpoints.

Project Scope: Management of rewards for Debit Cards, UPI, Internet Banking, and Mobile Banking.

Key Deliverables: Platform deployment, migration of existing programs, and ongoing management and support services.

Contract Value: Approximately ₹88 Crore over the tenure of the agreement.

Initial Purchase Order: The company has received its first PO valued at ₹7.32 Crore.

Duration: The contract is set for a period of 3 years.

This win represents a significant milestone for Novus Loyalty as it scales its technology-driven platform within the nationalized banking sector. By integrating loyalty rewards into high-frequency transaction channels like UPI and Mobile Banking, the company aims to enhance customer retention and digital engagement for the Central Bank of India.

The management believes this partnership will further solidify Novus Loyalty's standing as a premier technology provider in the digital payments and banking ecosystem.

Source : Equity Bulls

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NovusLoyalty Contract OrderWin CentralBankofIndia