Digital advertising platform, Cardlytics, has partnered with Monzo to deliver targeted promotions and cashback rewards to its over 8 million customers.
The partnership will enable Monzo to deliver cashback rewards for customers with daily targeting. This is based on consumer spending and location, ensuring clear personalisation to drive value for customers and sales for brands.
Monzo will be the first bank globally to deploy Cardlytics’ new cloud-based platform. Hosted on Amazon Web Services (AWS), it provides a slick user experience for the bank. At the same time, it delivers cashback notifications to consumers in real-time as they spend.
Cardlytics will join the Monzo cashback rewards programme in early 2024.
“We’re thrilled to announce our partnership with Monzo, providing cashback rewards to its customers at a time where all spending is more heavily scrutinised,” Campbell Shaw, head of UK banking partnerships at Cardlytics, said.
“As the first banking platform to deploy our new cloud-based platform, Monzo customers will benefit from cashback rewards in real-time as they spend.
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“We look forward to helping Monzo customers save money on their spending, as part of the bank’s efforts to support during the continued high cost-of-living.”
Cardlytics: promoting customer loyalty, deepening banking relationships
Headquartered in Atlanta, Cardlytics partners with financial institutions to run their banking rewards programmes. The aim is to promote customer loyalty and deepen banking relationships. Cardlytics gains a secure view into where and when consumers are spending their money. It then uses these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns.