Inside BofA Rewards: Bank of America's New Strategy for Customer Retention

Today's episode is with Shikha Narula - Managing Director, Head of Consumer Deposit Products, Transformation and Rewards – Bank of America. Bank of America recently announced BofA Rewards, a no fee program designed to reward clients throughout their financial journey. The program went live on May 27, 2026, and represents an evolution of Preferred Rewards that embodies a comprehensive approach to customer loyalty. Shikha and we dig in to why this approach is well suited to build strong and lasting relationships with banking customers and how it is strategically positioned into BofA’s overall growth strategy. Shikha and her team are responsible for developing and delivering client-centric strategies and innovative solutions to meet Bank of America’s clients’ current and emerging financial needs. Prior to joining Bank of America in March 2022, Shikha was the head of US Consumer Lending Products at American Express and previously worked with Citigroup for 16 years. Hosted by Bill Hanifin - Wiser Loyalty podcast, a series produced in partnership between Let’s Talk Loyalty and The Wise Marketer™. Please note the episode was recorded on March 31 2026 prior to the new BofA Rewards launch Show Notes :- 1) Shikha Narula:   / shikhanarula   2) Bank of America: https://www.bankofamerica.com/ 3) BofA Rewards: https://info.bankofamerica.com/en/bof... 5) Smart Brevity (Book Recommendation): https://www.amazon.com/Smart-Brevity-... 6) The Wall Street Journal (Article Recommendation): https://www.wsj.com/?msockid=21ec5287... Subscribe to our Newsletter: https://letstalkloyalty.com/newsletter/ Connect with us on LinkedIn:   / let-s-talk-loyalty   #letstalkloyalty #loyaltymarketing #loyaltyprograms #loyaltytv