Bank of America’s card-linked offers program, BankAmeriDeals, offers customers cash back when they purchase from any of 4,000 partnering retail merchants. Cash-back discount deals are surfaced to customers right in the Online Banking environment, based on their past purchase history.
Powered by purchase data platform Cardlytics, Bank of America, to date, has issued about $17 million in savings to customers. Although card-linked offers are not new, the benefit to advertisers is still a grey area. Bank of America was among several companies including Microsoft and Linkable Networks to forge an interoperable network focused on enhancing local commerce and card-linked offers.
As founder of BankAmeriDeals, Jason Blackhurst, SVP of Emerging Capabilities, Consumer Banking, Digital at Bank of America, spoke with AdExchanger further about card-linked offers, loyalty and the new CardLinx Association.
How did you develop BankAmeriDeals?
BankAmeriDeals came about in 2009 when we really started conceptualizing how we could bridge the gap in what we saw as an ability to communicate with our merchants in a meaningful way, but at the same time honor our privacy commitment to our consumer. We knew there was a lot of value in that transaction data, but the real stickler was, ‘How do you honor that privacy and come up with a system that works for all parties?’