Daali Taps Salt Edge for Open Banking to Power Loyalty and Reward Programmes
Daali, a UK-based automated cashback platform for in-store card transactions, partners up with Salt Edge, a leader in providing open banking solutions, to transform the way reward and loyalty work for brick-and-mortar stores, by making bank accounts' connection to the app seamless and safe.
Online retailers bring in more than $12 billion a year using cashback affiliations marketing whereas physical stores don't have that opportunity. Daali is on a mission to bring physical stores to the same level playing field as the online retailers by automating the cashback affiliate marketing for in-store card transactions to incrementally grow their revenue.
Leveraging Salt Edge's open banking solutions, Daali offers its customers a safe and instant way to connect their bank accounts to the app and automatically start receiving rewards. No need to carry a loyalty card, scan a QR code or ask for points at the checkout. With 75% of Daali users using the open banking feature, currently, there are more than 13,000 bank accounts connected to the app. Using Account Information and Transaction Categorisation, Daali offers their retail customers enhanced analytics based on transactional data, providing more insights into their customers' buying behaviour. Enriched and categorised data can be used to create a more accurate analysis of consumers buying patterns to build a more personalised business approach and customised special offers.
"Loyalty and reward programmes work well when it is done right, and together with open banking, it is truly a perfect match. We launched in October 2021 and already reached 10,000 downloads. The fact that most of the users that download the Daali app connect their bank accounts, shows that Salt Edge has done a great job in open banking and consumers are loving the value proposition we are providing. Currently, we are focusing on the UK market, but as open banking is expanding globally in exponential numbers, why not expand globally too, and Salt Edge global coverage will make this goal even closer," said Bishnu Gaire, Co-Founder at Daali.
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