Lloyds Banking Group, which operates under brands such as Halifax, Lloyds TSB and Bank of Scotland, is to become the UK launch partner for Cardlytics’ targeted advertising platform for financial institutions.

The system seems ideal for driving loyalty among consumers. Advertisers have the opportunity to offer discounts and vouchers based on a bank account holder’s historical purchasing habits and the bank benefits from opening up another revenue stream.

Card-linked marketing is the expression used by Cardlytics to describe how it gives advertisers a direct connection to buyers through online banking and mobile banking channels, which has already proven successful across the Atlantic.

USA Success

Partnerships with nearly 400 financial institutions including Bank of America, PNC Bank and Regions Bank, along with the insight into consumer purchase behaviour it has for 70% of US households, have given Cardlytics the impetus to reach out on a more global scale.

Cardlytics has stated the UK is a market ripe for exploitation. Office for National Statistics figures disclose that 50% of all UK adults report that they access their bank accounts over the internet, whereas 76% of those aged 25-34 use the internet for online banking.

Additionally, the UK’s evolved retail market appears to have played a part in Cardlytics expansion to blighty according the company’s managing director, Charlie Humphreys, who also did not rule out a move elsewhere in Europe.

“The UK is one of the most advanced retail banking and retail markets, so launching our platform here makes absolute sense. We look forward to working with banks, retailers and consumers to extend the benefits of card-linked marketing to all,” Humphreys said.