Cardlytics and Vesdia, providers of loyalty solutions to financial institutions, have entered into partnership agreement to provide banks with an approach of delivering merchant-funded rewards and retailers access to additional marketing platforms.
The partnership will enable banks to provide targeted rewards based on customers’ debit, credit and bill-pay transactions, as well as deploy a broad-based rewards strategy that includes online malls and multi-channel marketing. This approach is fully merchant-funded, enabling banks to deploy an effective loyalty program at no fee.
Vesdia and Cardlytics’ partnership marketing programs offer merchants the ability to reach valuable consumers in targeted loyalty programs through models that deliver measurable results versus traditional advertising activities.
Cardlytics and Vesdia’s combined networks of local, national and online retailers will provide targeted promotional offers to consumers through their online banking statements based on actual transaction data. This gives participating merchants direct access to targeted digital audiences available. There is no up-front cost to retailers for participating: no need to purchase target lists, pay for creative designs or distribution costs.
The two companies’ platforms provide banks with a single private labeled solution for providing rewards or cross-selling additional products and services, such as mortgages and CDs. Additionally, both Cardlytics and Vesdia provide multi-channel marketing capabilities, enabling banks to increase rewards program awareness and participation.
The joint offering can also serve as a complement to financial institutions’ proprietary loyalty systems. Cardlytics’ closed-loop reporting structure, combined with Vesdia’s reporting and analytics will provide financial institutions with a complete picture of their loyalty programs.
Peter Davis, president of Vesdia, said: “Vesdia has earned a reputation for running effective partnership marketing programs that deliver strong results for merchants. A partnership with Vesdia is about driving incremental revenue, continual marketing exposure and increased loyalty for every merchant and partner. We will continue to add innovative companies such as Cardlytics to our partnership network.”
Lynne Laube, president of Cardlytics, said: “The Cardlytics platform complements other types of loyalty programs. Our ability to deliver merchant-funded offers based on actual consumer purchase behavior combined with Vesdia’s expertise in providing a broad-based loyalty marketing approach creates a complete rewards package that will have a meaningful impact on customer loyalty for both banks and retailers.”