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Valuedynamx Partners with Plink to Enhance Cash Back Programs Offered by Financial Institutions

Insights 23 February 2024
Local coffee bar

Valuedynamx, the leading provider of global loyalty commerce and personalized offer networks, today announced a new partnership with Plink, an online platform that enables small businesses to create and grow commerce transactions with targeted customers right in their own neighborhood. The partnership offers an extension of the already dynamic Valuedynamx marketplace that enables financial institutions (FIs) of any size to identify the merchants that matter most to their cardholders and include those relevant merchants as a cornerstone of their cash back programs.

Community banks and credit unions now compete for digital engagement against more savvy fintechs, so they have to maximize their data and digital banking infrastructure to provide more relevant, daily value to their banking customers. The partnership between Valuedynamx and Plink is timely as consumers and businesses expect to experience strained budgets as they head into the holiday season amidst the threat of a recession. It is the first program to seamlessly tie together a digital presence for the merchant - inclusive of consumer data to create an anonymous closed loop between each merchant and the cardholder.

“More than ever, financial institutions want to demonstrate their commitment to the customer by rewarding them for frequenting their favorite local businesses,” said Mitch Jacobs, CEO and Founder, Plink. “Our partnership with Valuedynamx puts financial technology to work to create a win-win between financial institutions, particularly for credit unions and community banks, and merchants.”

For many years, banks and credit unions have been investing in digital banking and CORE processing capabilities. Plink and Valuedynamx provides these financial institutions with an innovative, powerful digital engagement solution to now allow businesses of all sizes to reach consumers through digital banking and the core banking processing platforms.

Through the Plink and Valuedynamx partnership, local merchants get a first-of-its kind combination of benefits and features, including:

  • - Custom audience of verified spenders, giving merchants a new channel to reach customers who consistently spend near their physical locations
  • - Cash back control that leverages spending data to maximize customer purchase incentives without risking revenue
  • - Community data feed that provides merchants the changing lifetime value of the customer with every transaction
     

“Valuedynamx is all about delivering relevant, timely offers,” said Ed Wogan, SVP and Chief Merchant Officer, Valuedynamx. “Because Plink is able to recruit community centric merchants based on FI recommendations, we are able to add them to the program quickly, complementing national merchant and travel offers, adding 360 degrees of value to the program for FIs and their members.” 

As part of the company’s commitment to bring relevant offers to program members, Valuedynamx previously announced a partnership with Travel.win, bringing cash back travel offers to members of local banks and credit unions. The partnership with Plink furthers the company’s commitment to bringing differentiated local offers to these same members, driving engagement for all members of the ecosystem.