Loyalty and rewards may seem like dated technology. After all, the conversation around loyalty and rewards peaked in 2012 when merchant-funded rewards and in-statement offers were the hottest new customer acquisition bait.
Today’s banking environment that focuses on the customer is proving that the technology isn’t all hype, however. Almost a decade after the merchant-funded rewards conversation, there’s still activity going on in the loyalty and rewards space.
As proof, banking app and smart card Curve announced today it is partnering with purchase-based marketing intelligence firm Cardlytics, which will power Curve’s new rewards program. Dubbed Curve Rewards, the app will offer Curve users a range of rewards from Cardlytics’ brand partners, including Pret a Manger, JustEat, FatFace, Harvey Nichols, and Cult Beauty. Two of the merchants piloting Curve’s new program, Harvey Nichols and Cult Beauty, will offer 20% off and 5% off respectively.
Curve Rewards leverages Cardlytics’ purchase intelligence data and will help customers earn while they spend. This data-driven approach ensures that the rewards offered to the consumer are personalized to their spending habits.
“Today’s consumers want a reward scheme that is tailored to how they shop and why they shop,” said Cardlytics’ Head of Bank Partnerships Campbell Shaw. “We’re pleased to have built a reward scheme for Curve that does just that, putting customers back in the driving seat while building loyalty and engagement for Curve.”
The partnership is especially notable for Cardlytics. In the company’s thirteen year history, the partnership with Curve is its first digital-native brand. Up until this point, Cardlytics’ partnerships were primarily with traditional financial institutions, including Lloyds Banking Group, JP Morgan Chase, Wells Fargo, and Santander.