Experian, a FTSE50 company and the world’s leading global information services company, has acquired a strategic stake in Reward, an industry leader in customer engagement and commerce media.
As part of this investment, Kashif Aslam, head of corporate development at Experian, will join Reward’s board of directors with immediate effect.
The specific amount invested by Experian was not disclosed. However, this strategic move cements an existing commercial partnership between the two companies. The collaboration aims to leverage Experian’s rich data and audience activation capabilities to fuel Reward’s offerings across banks and retail sectors, ultimately enhancing the consumer experience.
Reward, founded in 2001, operates in 15 countries across Europe, the Middle East, and Asia. The company’s cloud-based API platform integrates content, advertising, and commerce to deliver exceptional consumer experiences, resulting in increased customer engagement, retention, and overall satisfaction. Reward’s mission is to make everyday spending more rewarding, having given back more than $1bn in cashback rewards to consumers worldwide over the last five years.
The partnership with Experian is poised to pioneer new ways to enhance Reward’s customer engagement programmes, aligning the unique strengths of both entities. The focus will be on scaling solutions across international markets, combining technology and data analytics to provide improved services and more personalised rewards based on a better understanding of consumer needs and preferences.
Reward CEO Jamie Samaha said, “Experian’s investment in Reward is a powerful endorsement of our vision and international growth strategy. With a goal to give back $2 billion to customers by 2025, we are excited to leverage Experian’s global footprint and capabilities to enhance our service offering to our bank and retail partners.”
Colin Grieves, managing director of Experian Marketing Services, commented, “Our investment in and partnership with Reward is an exciting step forward for our business. Reward’s principal belief that everyday spending should be rewarded is entirely aligned with our mission to help consumers improve their financial well-being. We look forward to developing our joint capabilities to help Reward service it’s banking and retail communities both in the UK and internationally. There is a great deal we can and will do together.”
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