Cardlytics, the global leader in Card-Linked Marketing, announced today that it will be launching a new programme with Lloyds Bank.
The partnership will allow its growing list of retail partners*, which include Ocado, Coast and Homebase, to make precisely targeted offers to the Bank's customers, through online and mobile banking channels. The deal will see Lloyds Bank present relevant offers to customers under the 'Everyday Offers' brand. This follows Cardlytics' UK launch in September with Halifax.
Cardlytics enables retailers, restaurants and other brands to provide offers to banking customers in a precisely targeted way, based on their historical purchases. The cash-back offers are presented to customers within online and mobile banking channels. Consumers activate the offers through a single click and earn cash-back of between 5-20% on purchases by using their debit or credit card. There are no vouchers to print or codes to enter.
Cardlytics partnership with Lloyds Banking Group (which has over 30m customers) enables it to serve targeted offers based on insight from already more than 1 billion historic transactions. Retailers are already seeing strong results from the programme with transaction values of redeeming customers increasing by two-thirds on average. Cardlytics' UK performance mirrors US success, where Cardlytics now works with hundreds of national retailers and thousands of regional and local retailers.
To join the Cardlytics programme, retailers do not need to install or implement any point of sale changes or staff training processes; everything is managed and measured through the relevant payment data. Cardlytics employs a payment by results model so retailers don't pay until results are achieved.
Initial retail partners for the UK* cover a range of categories, including grocery and dining, through to everyday spend and services.
Commenting on the relationship, Charlie Humphreys, UK Managing Director of Cardlytics said: "We are delighted to be partnering with Lloyds Bank. It is a move that extends our platform of targeted offers tors to millions of new customers. Cardlytics has been a great success for retailers in the US and the signs from our initial launch in the UK have been very strong. Retailers have been enthused by the insight and precision targeting offered by the model, together with the simplicity of participation. The ability to use an online media to generate measurable in store as well as online sales has been particularly valued, together with the high return on investment."
Ashley Machin, Digital Banking Director at Lloyds Bank commented: "We are confident that Everyday Offers will be a very popular programme with our customers. We have worked hard to deliver tailored offers so that people can feel rewarded for the sort of shopping they already do. This is our way of saying 'thank you' to our customers as they earn cash-back that will be paid straight into their current account."