By now, we’re all familiar with card-linked offers (CLOs). You sign up to a programme and it gives you discounts or cashback when you shop at certain places with your credit or debit card. It’s an easy way for consumers to save while shopping and a useful strategy for marketers, thanks to the personalisation opportunities and precise customer segmentation. 

However, you might not be so familiar with open banking. It’s a bit like CLOs’ cousin and it’s starting to make a name for itself in the industry. Maybe it’s even more powerful?

To learn more about this strategy, we caught up with Mark Andres, Director of Merchants at Finfare Connect, at PI LIVE Europe 2023. You can watch our interview down below.

How they are different

The first big difference between the two, as highlighted by Andres, is data upfront. 

With CLOs, you enrol a user and then build up a profile of data from that day forward, analysing what the customer spends through that particular card.

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