ATLANTA--(BUSINESS WIRE)--Cardlytics, the leader in Card-Linked Marketing, was recently featured in Celent’s report, “Using Data to Create Value for All Customers: A Case Study of Bank of America’s BankAmeriDeals Program.”
“Bank of America understands that banks have privileged access to valuable customer data and, as custodians of that data, are responsible for protecting customer privacy. If done correctly, banks can use the data they have to create value for all of their customers, and turn it into a significant business.”
In the report, senior analyst Zilvinas Bareisis examines Bank of America’s implementation of Cardlytics’ card-linked marketing rewards program to understand what it takes to implement such a program at a large bank, what can be achieved and what lessons can be learned. The report revealed several key differentiators of Cardlytics’ program, including intensive measuring, monitoring, controlling and continuous improvement.
“From the outset, Bank of America wanted to build something that would be beneficial to all of its customers, both consumers and merchants,” said Bareisis. “Bank of America understands that banks have privileged access to valuable customer data and, as custodians of that data, are responsible for protecting customer privacy. If done correctly, banks can use the data they have to create value for all of their customers, and turn it into a significant business.”
Retailers are looking for new ways to deliver targeted marketing offers to consumers, at scale. The Cardlyics advertising platform uses purchase data from approximately 70% of US households to deliver millions of targeted marketing recommendations each month to millions of active buyers. The report concluded that retailers could successfully dedicate significant parts of their promotion budgets to card-linked marketing platforms – thus achieving their need for targeting at scale, and illustrating another reason card-linked marketing could become a significant business for financial institutions.
“The Celent case study is an excellent example of the power of card-linked marketing,” said Scott Grimes, CEO of Cardlytics. “Our unique advertising platform provides value to consumers, retailers and financial institutions. We were very happy to be included in the report, and look forward to a continued and long partnership with Bank of America.”
For more information or to download the full report, please visit http://www.celent.com/reports/using-data-create-value-all-customers.
Cardlytics is a technology and advertising company, leveraging consumer purchase data to create targeted advertising platforms. Through partnerships with nearly 400 financial institutions, including Bank of America, PNC Bank and Regions Bank, the company has insight into consumer purchase behavior for ~70% of U.S. households, capturing spending across all stores and categories. Cardlytics’ patented technology allows advertisers to make a direct connection to buyers through the online banking and mobile banking channels. Cardlytics is the pioneer and global leader in rapidly growing industry of Card-Linked Marketing, with operations in the U.S. and in the U.K.
Cardlytics is headquartered in Atlanta, with offices in London and San Francisco. The company has funding from leading investors in Boston and Silicon Valley, as well as a strategic investment from the world’s leading loyalty company, Aimia.