Cardlytics Expands Advertising Platform with the Launch of My Wells Fargo Deals

Rhea-AI Summary

Cardlytics (NASDAQ: CDLX) has launched My Wells Fargo Deals, a rewards program for Wells Fargo customers, enabling cash back on purchases. This initiative enhances Cardlytics' advertising reach within secure digital bank channels, leveraging insights from over $3 trillion in annual consumer spending. CEO Lynne Laube emphasized the partnership's potential to drive marketing efficacy, while Wells Fargo's Adam Vancini highlighted consumer demand for savings. Cardlytics has historically generated $33 billion in sales for marketers and returned $500 million to consumers through cashback.

Positive

• Launch of My Wells Fargo Deals expands market reach and consumer engagement.
• Access to insights from over $3 trillion in annual consumer spending boosts advertising capabilities.
• Track record of generating $33 billion in sales for marketers enhances credibility.

Negative

• None.

ATLANTA, July 22, 2020 (GLOBE NEWSWIRE) -- Cardlytics (NASDAQ: CDLX), an advertising platform in banks’ digital channels, announces the launch of My Wells Fargo Deals, a new rewards and loyalty program for the fourth largest bank in the U.S.

Through My Wells Fargo Deals, customers can activate offers to earn cash back on everyday purchases, with targeted digital marketing designed to drive incremental in-store and online sales for merchant partners. With insights into more than $3 trillion in annual consumer spend, the Cardlytics launch of My Wells Fargo Deals significantly increases the platform’s scale and ability to reach bank customers in a secure, brand safe channel. This annual consumer spend represents one out of every two credit and debit transactions in the U.S.

“Our partnership with Wells Fargo further increases our platform’s reach to compete with the major players in the advertising space, helping brands reach consumers in a trusted, secure channel,” said Lynne Laube, CEO and co-founder of Cardlytics. “Through our valued bank partnerships, we are able to provide marketers a view into nearly $6 million in spend every minute. This gives us incredible insight to shape their marketing strategies and drive purchases from the consumers who are most likely to buy.”

Having strong relationships with leading marketers across a variety of industries, Cardlytics has driven more than $33 billion in measurable sales for marketers while giving nearly $500 million back to consumers through these cash back rewards.

“We know that consumers today are increasingly looking for ways they can save money while receiving more value for their everyday spending,” said Adam Vancini, head of deposit payments for Wells Fargo’s Deposit Products Group. “Partnering with Cardlytics on this new offering allows us to provide our customers with personalized, cash-back deals from merchants across the U.S. It also enables us to provide some of the top consumer brands a platform to reach customers at a time when they are already thinking about their finances.”

For more information on Cardlytics, visit cardlytics.com.

About Cardlytics

Cardlytics (NASDAQ: CDLX) uses purchase intelligence to make marketing more relevant and measurable. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, San Francisco and Visakhapatnam. Learn more at www.cardlytics.com.

PR Contact: ICR - cardlyticspr@icrinc.com 

FAQ

What is My Wells Fargo Deals launched by Cardlytics?

My Wells Fargo Deals is a new rewards program allowing Wells Fargo customers to earn cash back on purchases.

How does Cardlytics enhance its advertising platform?

Cardlytics enhances its platform by leveraging insights from over $3 trillion in annual consumer spending and partnerships with banks.

What has been the impact of Cardlytics' marketing strategies?

Cardlytics has driven over $33 billion in measurable sales for marketers while providing $500 million in cash back rewards to consumers.

What is the significance of the partnership with Wells Fargo?

The partnership significantly increases Cardlytics' reach and ability to engage consumers in a secure, trusted environment.

What is the stock symbol for Cardlytics?

The stock symbol for Cardlytics is CDLX.