Bankons recently launched its mobile merchant offer platform, which provides financial institutions a platform to engage with their customers via smartphones. Bankons delivers mobile merchant funded offers that are geo-located and linked to a customer’s transaction history.
Linking geo-located offers from local merchants with geo-located transactions, the Bankons platform then incorporates customer bank transaction history making the offers highly targeted and timed to the moment of purchase intent by delivery to a smartphone app rather than a paper bank statement or an email buried in an inbox. According to the company, this helps financial institutions increase customer loyalty by delivering repeated savings to the consumer at the most useful moment.
Linking transaction history to geo-location lets financial institutions offer suggestions at the moment of purchase and can provide an additional revenue stream to financial companies through mobile merchant funded offers, adding a new income stream independent of interchange fees and requiring no account managers to oversee custom programs. Bankons is available as a co-branded white label application, or it can be embedded as a native experience inside existing mobile applications via Bankons API integration.
“With Bankons financial institutions are able to connect with their customers on daily basis whenever the customer checks their smartphone for anything from a bank balance to directions to their favorite restaurant,” said Joshua Greenough, founder and CEO. “The power of our platform to link transaction data to a customer’s location makes it possible to deliver highly targeted and welcomed offers, creating new and repeated revenue opportunities for financial institutions and savings opportunities for consumers. It’s a win-win situation.”
Bankons makes the consumer experience simple with no complicated demographic profile for the customer to fill out. They simply enter their bank login information into the consumer app and the transaction data is linked to geo-location data through the powerful platform. Customers are then presented with a variety of local offers, based on where they are and their purchase preferences. Bankons provides information on nearby discounts and deals along with directions on how to get there.
“While slow to adopt new technologies, the financial sector has really embraced innovation in recent years,” said George Nguyen of George Nguyen Consulting, a marketing and business alignment consulting firm. Currently consulting with clients such as the Fed and Wells Fargo, Nguyen was formerly in Business Intelligence with Coupons.com and Washington Mutual. “They know that their future success depends on winning customers over by delivering the best experience possible. With Bankons, Joshua and his team have developed a product that creates a positive consumer experience, repeatable on a weekly if not daily basis, while also providing a repeat revenue opportunity for financial institutions without effort on their part. I’m excited to watch as banks begin to take advantage of the enormous opportunity that Bankons has created.”
According to The Mobile Movement Study by Google/Ipsos OTX MediaCT earlier this year, 9 out of 10 searchers have taken action as a result of a smartphone search. The patent-pending Bankons platform creates a new opportunity for banks and consumers to reap greater benefit from these searches than ever before.
Source: PR NewswireBankons, Joshua Greenough