SOURCE: Cardlytics

Cardlytics

March 10, 2010 16:36 ET

Cardlytics CEO Scott Grimes Addresses 2010 Montgomery Technology Conference

Decoupled Debit Pioneer Discusses Transaction-Based Marketing, Payments Innovation

SANTA MONICA, CA--(Marketwire - March 10, 2010) -  Scott Grimes, CEO and founder of Cardlytics, a provider of targeted, card-based, merchant-funded rewards technology, today spoke to more than 800 senior-level private equity and venture capital investors and corporate industry executives on payments innovation and transaction-based marketing at the 2010 Montgomery Technology Conference at the Fairmont Miramar Hotel & Bungalows in Santa Monica, California.

The session addressed the rising use of transaction-based marketing among retailers and financial institutions, and the lucrative benefits associated with this particular payments innovation. Grimes discussed how the popularity of online banking and the rise in debit card transactions are prompting a growing number of retailers and financial institutions to offer loyalty incentives that are based on transaction data and can be offered to a consumer through their online bank account. 

"Traditional marketing channels that present customers with 'targeted' loyalty incentives are frustrating marketers who experience very little in terms of ROI, considering the amount of time and money they spend on designing and presenting offers that often go unredeemed or unnoticed by recipients," said Grimes. "Transaction-based marketing and the changing payments landscape are prompting institutions and retailers to collaborate efforts to create meaningful, targeted rewards whose effectiveness can be measured."

Grimes, a former Capital One senior vice president and one of the inventors of decoupled debit, founded Cardlytics in 2008. Cardlytics' approach to rewards enables retailers to place highly targeted offers intended to drive customer acquisition, loyalty and incremental spend, while enabling financial institutions to nearly double their income from debit card account holders.

About Cardlytics
Through a highly relevant, "market-of-one" approach, Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers' actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day. The rewards improve consumers' banking behavior by increasing usage, reducing attrition and strengthening engagement with online banking. Cardlytics' multi-channel approach includes online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit www.cardlytics.com.

Contact Information

  • CONTACT:
    Alex Shorter
    For Cardlytics
    678-781-7207

    Heather Sugg
    For Cardlytics
    813-374-6362