COMMERCIAL BANKS INNOVATIVE PRODUCTS AND LOYALTY PROGRAMS IN GEORGIA

Abstract Technological development, online platforms and remote services are directly related to innovations in the financial industry. All above mentioned in turn increases quantitative and qualitative operational risks and the likelihood of bankruptcy. Despite the risks, banks are constantly trying to offer customers innovative products and services. Based on the experience of foreign countries, they use electronic technology services. Loyalty programs increase customer satisfaction and bank income. Premium services and privileged position are especially important for business people who have a solid financial situation and do not have enough time to manage personal matters. Customers using premium services are characterized by loyalty, trust and long-term relationships with the serving bank. The goal of loyalty programs in the short term is to increase the bank's awareness among the population, and in the long term to attract new customers and retain existing customers. True loyalty on the part of the customer means that the customer remains loyal to the bank serving them despite the better offer by a competing bank. Customer loyalty is influenced by: age, geographical location, gender, nationality, income, etc.