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PROFILE: JOLANDÉ DUVENAGE | WHEN JOLANDÉ DUVENAGE – CEO of eBucks, South Africa’s biggest banking rewards programme – went for a job interview at FirstRand for “an exciting e-commerce company” to be launched in late 2000, she had no idea what she was letting herself in for. It was right at the height of the e-commerce bubble, with almost every major company exploring ways to get a slice of cake in the emerging Internet sector.
With a background in informatics, marketing and customer relations management, Duvenage had everything it took to clinch the appointment. But little did she know the much publicised company was still at its conceptual stage and that she’d have to be instrumental in turning the concept into reality. “I remember when I got there Michael Jordaan (CEO of FNB) said: ‘We’ve been looking for you for months now. You’re the perfect person for this job.’ I replied it was great news but that I still didn’t know what the company was about,” recalls Duvenage.
What made matters worse was that then FirstRand CEO Paul Harris had promised investors the financial services group was going to leapfrog its competitors with its e-commerce initiative and millions were going to be pumped into it. Once the eBucks team was set up, Harris called them into his office and asked if they could launch “the thing” in a week’s time.
“On the first day we stuck up a worm on the wall. Every day we’d pull off one piece of this worm’s body in terms of the countdown. I always joke we were fed pizza underneath the door and we worked day and night to launch this thing in 100 days – which we did. It was probably the most exciting time of my life in creating this amazing solution.”
This year eBucks is 10 years old and “has been an amazing ride” for Duvenage. As a rewards programme, eBucks’ main business is to help its FirstRand partners – mainly First National Bank – enhance their profits and retain their clients by offering incentives through the eBucks virtual currency earned when clients pay with their FNB cheque or credit card or when buying goods at one of eBucks earn partners. The virtual money can be used for further purchases at the participating spend partners, including retailers such as Makro and Incredible Connection, as well as online through the eBucks portal and other partners, such as airline kulula.com.
The eBucks programme also has discount propositions. For example, members pay 20% less for a kulula flight when they pay with an eBucks card, a 50% discount on movie tickets or 20% discount on a Canon camera. “We literally take your rand and stretch it for you,” says newly appointed CEO Duvenage.
There are also benefits for retail partners. “We increase our partners’ revenue by between 15% and 20% on an annual basis, which I think is really great. It really makes a difference to your bottom line. We’ve measured that over and over again.”
In its early years, eBucks was a single web portal business offering a virtual currency, the rewards programme, Internet banking and an Internet payment solution. As one of the founding members, Duvenage was on the management team responsible for strategic marketing direction and client relations management, among other things. She became executive head for new business development in 2002, becoming responsible for launching FirstRand’s Internet offering in all its African subsidiaries and being the only online retail portal in SA to sell Lottery tickets.
Due to the success of its rewards programme and its Internet banking offering, it was decided to split the company into two separate businesses. eBucks recently introduced a new value proposition, where its members can now buy fuel with their eBucks at Engen outlets.
To date, members have spent around R1,2bn worth of eBucks since the programme’s inception in October 2000, with FNB having made the largest contribution to the more than R1,6bn worth of eBucks allocated to members over that period.
There are several other value propositions in the pipeline, says Duvenage, without revealing any details. “Every year we deliver something new. We’ve done a lot of work lately in terms of where we’re going to take the programme. There’s an opportunity to look at other market segments: how we can structure value propositions that are even more appealing than they currently are.”
Before joining eBucks Duvenhage was business strategy manager at IT company USKO Software, now part of Bytes Technology. Prior to that she was customer relationship manager at clothing retailer Edcon, where she was part of a team that implemented a technologically advanced customer relationship management (CRM) solution for the group.
Duvenage started her career as a marketing assistant at oil group Sasol upon completing her studies at the then Rand Afrikaans University, now the University of Johannesburg, where she studied informatics and marketing management.
ICE-BREAKERS
What were you like when you were growing up?
I was an energetic kid who loved participating in school and extramural activities. I was very sociable but could be quite strong-willed at times. I was privileged to have filled quite a number of leadership roles. I attended seven schools throughout my schooling career, which enabled me to become very adaptable.
What’s been the most memorable experience in your life?
The birth of my two kids: it really touches your being and gives you a fresh perspective on life.
What is it that most people don’t know about you?
I love camping in pristine nature.
How would you describe yourself in one sentence?
A strong collaborator who thrives on taking things to the next level.
If you had the opportunity, who – in the world of famous people in SA – would you like to take for lunch, and why?
Two people: Mike Horn, the extreme adventurist: you need to admire his mental strength. And couturier Marianne Fassler: she has a phenomenally creative mind. At all times she remains totally authentic.
Your biggest mistake thus far?
With my first baby I was really focused on wanting to do things by myself during the first few weeks. I definitely could have made things easier if I’d accepted a bit more help… But then again, it turned out to be an amazing bonding experience.
Your prediction for the Soccer World Cup?
In terms of a winner prediction, half my money is on Brazil and the other half on the Netherlands. But if I could really have it my way I’d love for it to be Bafana.
What legacy would you like to leave behind?
I’d like to nurture my kids to become well-adjusted adults who are assets to society. Professionally, I’d like to be remembered as somebody who enjoyed pushing boundaries in a way that also gave team members the opportunity to grow and stretch themselves.
What do you do in your spare time?
Exploring the world through my kids’ eyes, travelling, building houses, recreational running.
Where do you see your career in the next five to ten years?
I don’t have a specific job in mind, but I do know I’ll be involved in a challenge that will stretch me and enable me to make a difference.
VITAL STATISTICS
FULL NAME: Jolandé Duvenage.
AGE: 38.
MARITAL STATUS: Married.
CHILDREN: A wise six-year-old and a free-spirited three-year-old.
EDUCATION: BCom (Informatics, cum laude) and MCom (Marketing Management).
With a background in informatics, marketing and customer relations management, Duvenage had everything it took to clinch the appointment. But little did she know the much publicised company was still at its conceptual stage and that she’d have to be instrumental in turning the concept into reality. “I remember when I got there Michael Jordaan (CEO of FNB) said: ‘We’ve been looking for you for months now. You’re the perfect person for this job.’ I replied it was great news but that I still didn’t know what the company was about,” recalls Duvenage.
What made matters worse was that then FirstRand CEO Paul Harris had promised investors the financial services group was going to leapfrog its competitors with its e-commerce initiative and millions were going to be pumped into it. Once the eBucks team was set up, Harris called them into his office and asked if they could launch “the thing” in a week’s time.
“On the first day we stuck up a worm on the wall. Every day we’d pull off one piece of this worm’s body in terms of the countdown. I always joke we were fed pizza underneath the door and we worked day and night to launch this thing in 100 days – which we did. It was probably the most exciting time of my life in creating this amazing solution.”
This year eBucks is 10 years old and “has been an amazing ride” for Duvenage. As a rewards programme, eBucks’ main business is to help its FirstRand partners – mainly First National Bank – enhance their profits and retain their clients by offering incentives through the eBucks virtual currency earned when clients pay with their FNB cheque or credit card or when buying goods at one of eBucks earn partners. The virtual money can be used for further purchases at the participating spend partners, including retailers such as Makro and Incredible Connection, as well as online through the eBucks portal and other partners, such as airline kulula.com.
The eBucks programme also has discount propositions. For example, members pay 20% less for a kulula flight when they pay with an eBucks card, a 50% discount on movie tickets or 20% discount on a Canon camera. “We literally take your rand and stretch it for you,” says newly appointed CEO Duvenage.
There are also benefits for retail partners. “We increase our partners’ revenue by between 15% and 20% on an annual basis, which I think is really great. It really makes a difference to your bottom line. We’ve measured that over and over again.”
In its early years, eBucks was a single web portal business offering a virtual currency, the rewards programme, Internet banking and an Internet payment solution. As one of the founding members, Duvenage was on the management team responsible for strategic marketing direction and client relations management, among other things. She became executive head for new business development in 2002, becoming responsible for launching FirstRand’s Internet offering in all its African subsidiaries and being the only online retail portal in SA to sell Lottery tickets.
Due to the success of its rewards programme and its Internet banking offering, it was decided to split the company into two separate businesses. eBucks recently introduced a new value proposition, where its members can now buy fuel with their eBucks at Engen outlets.
To date, members have spent around R1,2bn worth of eBucks since the programme’s inception in October 2000, with FNB having made the largest contribution to the more than R1,6bn worth of eBucks allocated to members over that period.
There are several other value propositions in the pipeline, says Duvenage, without revealing any details. “Every year we deliver something new. We’ve done a lot of work lately in terms of where we’re going to take the programme. There’s an opportunity to look at other market segments: how we can structure value propositions that are even more appealing than they currently are.”
Before joining eBucks Duvenhage was business strategy manager at IT company USKO Software, now part of Bytes Technology. Prior to that she was customer relationship manager at clothing retailer Edcon, where she was part of a team that implemented a technologically advanced customer relationship management (CRM) solution for the group.
Duvenage started her career as a marketing assistant at oil group Sasol upon completing her studies at the then Rand Afrikaans University, now the University of Johannesburg, where she studied informatics and marketing management.
ICE-BREAKERS
What were you like when you were growing up?
I was an energetic kid who loved participating in school and extramural activities. I was very sociable but could be quite strong-willed at times. I was privileged to have filled quite a number of leadership roles. I attended seven schools throughout my schooling career, which enabled me to become very adaptable.
What’s been the most memorable experience in your life?
The birth of my two kids: it really touches your being and gives you a fresh perspective on life.
What is it that most people don’t know about you?
I love camping in pristine nature.
How would you describe yourself in one sentence?
A strong collaborator who thrives on taking things to the next level.
If you had the opportunity, who – in the world of famous people in SA – would you like to take for lunch, and why?
Two people: Mike Horn, the extreme adventurist: you need to admire his mental strength. And couturier Marianne Fassler: she has a phenomenally creative mind. At all times she remains totally authentic.
Your biggest mistake thus far?
With my first baby I was really focused on wanting to do things by myself during the first few weeks. I definitely could have made things easier if I’d accepted a bit more help… But then again, it turned out to be an amazing bonding experience.
Your prediction for the Soccer World Cup?
In terms of a winner prediction, half my money is on Brazil and the other half on the Netherlands. But if I could really have it my way I’d love for it to be Bafana.
What legacy would you like to leave behind?
I’d like to nurture my kids to become well-adjusted adults who are assets to society. Professionally, I’d like to be remembered as somebody who enjoyed pushing boundaries in a way that also gave team members the opportunity to grow and stretch themselves.
What do you do in your spare time?
Exploring the world through my kids’ eyes, travelling, building houses, recreational running.
Where do you see your career in the next five to ten years?
I don’t have a specific job in mind, but I do know I’ll be involved in a challenge that will stretch me and enable me to make a difference.
VITAL STATISTICS
FULL NAME: Jolandé Duvenage.
AGE: 38.
MARITAL STATUS: Married.
CHILDREN: A wise six-year-old and a free-spirited three-year-old.
EDUCATION: BCom (Informatics, cum laude) and MCom (Marketing Management).
