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Bank Of America On Privacy, Mobile And The Card-Linked Offer

BankOfAmericaArtBank 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?’


Five Ways To Save: The Coupon Evolves, Digitally

Behold, the many ways to “clip” a coupon. Long-ingrained in the collective memory of many as the stuff of super-savers (and Sunday newspapers), a bevy of businesses and app developers are remaking the way a discount is served.

Digital discounts – as an industry – are heating up. Most notably, digital-coupon company RetailMeNot is prepping for a $230 million IPO it filed for last month. And strategic-advertising and marketing-intelligence firm Kantar Media has seen a 28% year-over-year increase in the first quarter for the number of digital-coupon events it tracked with Marx, its consumer-promotions monitoring solution.

“Manufacturers are creating new, effective and targeted online offers each and every day that shoppers can obtain digitally and may share socially,” said David Hamric, general manager for Kantar Media Marx.

With the discount continuing its upward climb and evolution, how exactly can brands and marketers gain the most footing? Strive for simplicity, said Jeff Fagel, vice president of marketing for edo Interactive. “Anything that adds work on the consumer side – from scanning QR codes, to printing coupons – sounds good on paper, but today’s deal-driven consumer quickly tires of novelty, especially when it requires a lot of effort,” he said.