The ICS BANKS Draw Prizes System provides financial institutions with a sophisticated solution for managing and executing various prize draws. This system is designed to automate the entire process from defining draw parameters to identifying winners and facilitating prize payments. It allows banks to configure multiple draw types, such as daily, monthly, quarterly, semi-annually, or annually, and to associate these draws with different products and currencies. The system offers flexibility in defining eligibility criteria, calculating draw entries based on factors like minimum or average account balances, and specifying multiple prizes for each draw event. Upon initiating a draw, the system automatically identifies all eligible accounts and calculates the corresponding coupons for each. It then randomly selects winners according to the predefined draw rules. Beyond winner identification, the ICS BANKS® Draw Prizes System also manages the payment process for both monetary and non-monetary prizes, ensuring that all prize distributions are handled efficiently and accurately after coupon calculation approval. This comprehensive automation helps banks enhance customer engagement and streamline their promotional and loyalty programs.

Features & Benefits

• Flexible Draw Configuration
  • Define multiple draw types (daily, monthly, quarterly, semi-annually, annually), associate with various products, and support different currencies.
• Customizable Eligibility & Prizes
  • Calculate draws based on minimum or average account balances and define more than one prize for each draw event.
• Automated Winner Identification
  • Automatically identify eligible accounts, calculate coupons, and randomly select winners based on defined draw parameters.
• Comprehensive Prize Payment Management
  • Maintain and manage the payment of both monetary and non-monetary prizes, ensuring accurate distribution after approval.