SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 9, 2004 (January 6, 2004)

eLOYALTY CORPORATION
(Exact Name of Registrant as Specified in Charter)

Registrant’s telephone number, including area code: (847) 582-7000

Item 7. Financial Statements and Exhibits.

Item 12. Results of Operations and Financial Condition.

     The following information, including the exhibit described below, shall not be deemed “filed” hereunder for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

     On February 9, 2004, eLoyalty announced its results of operations for the fourth quarter of 2003. A copy of the press release announcing the company’s fourth quarter 2003 results is included as Exhibit 99.1 to this Form 8-K report and is incorporated herein by reference. On January 6, 2004, eLoyalty provided a business update. A copy of the press release announcing this business update is included as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT INDEX