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Card-Linked Offers in the Wild: Bank of America, Capital One and Fifth Third

By Jim Bruene on June 10, 2012 9:36 PM | Comments (1)

We are starting to see more card-linked offers (aka merchant-funded rewards) in the wild:

  • imageBank of America: Consultant and former bank exec Tom Noyes showed off his BofA offers, BankAmeriDeals powered by Cardlytics, on his FinVentures blog earlier this week.
  • Capital One: For the past four weeks, I've been receiving FreeMonee offers from Capital One (see screenshot below).
  • Fifth Third Bank: I don't know how long it's been there (the service was announced in late Feb), but today I noticed that Fifth Third has a link up on its homepage to Prewards, the edo Interactive-powered rewards programs.

Bottom line: Card-linked rewards are great for consumers and banks, and hopefully they will prove to be equally valuable for the merchants who pay for the whole thing. If so, it could usher in a whole new era of ad-supported banking (note 1). In the meantime, it makes for awesome Finovate demos (note 2).


Fifth Third homepage features Prewards under "Personal | Bank" navigation (8 June 2012)


Prewards landing page (link)


Capital One weekly email with five new offers (1 June 2012)
Note: Offers are typically good for 2 weeks after email received.



1. We wrote about merchant-funded rewards in our Online Banking Report (Feb. 2011, subscription).
2. We covered the the best new products at FinovateSpring 2012 in our most recent Online Banking Report (May 2012, subscription).

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Ad-supported banking will only occur when the banks begin to understand merchant's needs. BofA is the only one that is beginning to understand this IMHO. The other programs are basically retread online mall programs, albeit, now with some targeting. Sorry, but merchants aren't going to buy deals that "consumers don't even know about" (I'm looking at you Capital One, FreeMonee, Cartera). Ulimately, to steal ad dollars from other mediums, banks will need to prove they are driving incremental sales, not just "funding" banks loyalty plays. It's not enough to just have the best data - it's all in how you use it

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