Receive our newsletter – data, insights and analysis delivered to you
  1. News
June 16, 2021

Westpac launches first digital loyalty suite in partnership with fintech Ascenda

By Douglas Blakey

Singapore-headquartered fintech Ascenda is partnering with Westpac Group to launch its new ‘My Offers Hub’ for customers.

Specifically, the Ascenda ‘My Offers Hub’ aims to deepen customer engagement through data-driven rewards Westpac’s three regional brands.

As a result, customers of St George, Bank of Melbourne and BankSA can now access a suite of digital offers. These include discounted gift cards, special experiences and hotel bookings.  This means the Ascenda/Westpac partnership supports the bank’s digital proposition and enhances the customer experience.

My Offers Hub: compelling offers for Westpac regional brand customers

Sebastian Grobys, Chief Commercial Officer at Ascenda says: “We are delighted to partner with Westpac Group to provide a new digital rewards platform, delivering compelling offers to their regional brand customers.”

‘My Offers’ hub is accessible exclusively via online and mobile banking for St George, Bank of Melbourne and BankSA customers.

Existing Ascenda clients include HSBC, Barclays and Capital One. The firm is active in more than 40 markets to develop customer engagement propositions that drive payment usage and retention. The Ascenda suite of APIs can be implemented across the entire banking relationship. In addition, it delivers a bespoke end-to-end solution for larger retail banks.

Ascenda API key features include

  • Meta-aggregation of 3rd-party offer sources;
  • Unified experience across offer constructs: card-linked, coupon, affiliate e-commerce, in-app purchase;
  • Real-time personalisation incorporating demographics, geolocation, card spend & usage patterns, and
  • Choice between cash-back and bonus points.

Moreover, Ascenda is working with another Australian lender, Virgin Money Australia. In April, Virgin Money Australia CEO Greg Boyle said that its loyalty programme is a core value proposition of the new Virgin Money digital bank.

Kyle Armstrong, Ascenda’s CEO, added: “It breaks new ground when it comes to bank-wide rewards and hyper-personalisation. And it sets a new benchmark for how leading consumer banks globally can think about customer engagement in the future.”

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy