Marketing company Cardlytics is using its Cardlytics Direct system to power the cash-back rewards programme for Wells Fargo. It will use algorithms and machine learning through the Purchase Intelligence platform which processes data from millions of accounts across thousands of financial institutions. The new program allows customers who have a certain amount in their account at one bank or credit union can earn up to 5% cash back. The news came as Cardlytics revealed total revenue up 8% to $35.6m for the second quarter with Cardlytics Direct making up most of that figure.
Marketing company Cardlytics is using its Cardlytics Direct system to power the cash-back rewards programme for Wells Fargo. It will use algorithms and machine learning through the Purchase Intelligence platform which processes data from millions of accounts across thousands of financial institutions. The joint venture will boost Wells Fargo’s rewards programme and give Cardlytics the bank’s customer data. The news came as Cardlytics revealed total revenue up 8% to $35.6m for the second quarter with Cardlytics Direct making up most of that figure.