From my experience as the founder of a tech company that partners directly with credit unions and banks, here are five questions banks can ask their tech vendors to avoid a potential hiccup.
Prizeout integrates with a CU’s mobile banking and online core, living as a button on its checking page. It connects a nationwide network of merchants—from big box stores to local businesses—to consumers where they are and provides additional value to the often-overlooked staple debit card.
Now, the entire MDC network of Credit Unions will have access to a proprietary ad technology platform, allowing them to be competitive with product innovation, member support, and increasing their own bottom line.
Be personal. Most loyalty programs are transactional, so small businesses have a huge opportunity to offer something truly impactful simply because they know their customers. If you offer perks, ensure they’re customized to their interests. If you offer points, ensure they can go to an establishment they frequent. Getting personal and using data for good goes a long way in retention and engagement. – David Metz, Prizeout
The future of adtech is something where you should see a direct return on your investment that benefits the brand, the customer and the partners. For example, you can take the money typically spent on ads and, instead, apply it in the form of bonus value on something like digital gift cards (full disclosure: my company runs on a model similar to this).
Live integration with Prizeout technology will give members additional purchasing power on their funds while supporting local community merchants
Get an inside look at how startup Prizeout built their company on Snowflake in this four-part series. In this first episode, meet Prizeout Co-Founder and CTO Brendan Grove and Director of Data Platform Kevin DeBenedetto as they share the Prizeout origin story. Find out what brought them together, the experiences that brought them together, and how they were introduced to Snowflake.
Select fintech partners based on your CU’s specific growth goals and begin conversations about partnerships at the board level.