How they describe themselves: Cardlytics is the leader of the cutting-edge field of transaction-driven marketing™, expected to grow into a multi-billion dollar global industry. Cardlytics’ solution enables financial institutions to deliver rich, relevant rewards to their customers based on previous shopping behavior, while fully protecting their privacy. The platform is purely “pay for performance” with advertisers targeting consumers based on holistic spend patterns from debit, credit, ACH and bill pay transaction data. The company’s targeted advertising platform assesses US $500B-worth of transactions (25% of durable personal consumption) and UK over £64B worth of transactions.
How they describe their product/innovation: Cardlytics’ latest innovation is a Facebook app, initially launched from an online banking session, containing a rewards summary page showing all available offers. The innovation is a working prototype with a release available to banks in Q2 2013.