Fiserv, the Wisconsin-headquartered
end-to-end business and technology solution provider, has teamed up
Georgia-based transaction marketing vendor, Cardlytics, to deliver
merchant-funded rewards via Corillian Online.
As a result of the partnership, Fiserv is
providing financial institutions with the ability to integrate
targeted reward offers into everyday banking.
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By GlobalDataCustomers can redeem rewards, typically as
‘cash-back’, by clicking on an offer within their transaction
history and then spending at the designated merchant using their
bank or credit union -issued debit, credit or prepaid
card.
In particular, the service gives
cardholders an opportunity to save money without the hassle of
coupons.
The US’ 12th-largest
headquartered bank by assets, Regions Bank, is one of the first
financial institutions to offer targeted rewards to online banking
customers supported by Fiserv and Cardlytics platform
solutions
Tom Brooks, executive vice-president Cards
& Payments, Regions Bank, said:
“We strive to add value to every
interaction we have with our customers.
“Our programme allows us to deliver offers
from recognisable companies that people interact with everyday, so
we’re providing our customers with a simple way to earn relevant
rewards based on their individual spending patterns.
And, because the offers are integrated
into online banking, we can present them in a seamless, unobtrusive
way”
Erich Litch, president, Digital
Channels, Fiserv, said:
“Our partnership with Cardlytics allows
our financial institution clients to leverage existing transaction
data to deliver highly relevant offers that benefit
consumers.
“Consumers can opt-out or opt-in to the
service anytime, so it’s another way we are putting them in the
driver’s seat of their own digital banking experience.”
A number of major banks have been axeing
or scaling back current account rewards programmes across the US
since the turn of the year, as lenders tinker with their business
models arising from increased interference and distortion of the
free market from regulators.
