Banyan’s platform organizes, matches, and makes item-level receipt data easily accessible, enabling its safe use for a wide range of commercial and consumer applications, according to the company’s website.
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GLOBilt has partnered with the Banyan platform to enhance the benefits available to its members.
In a blog post on Tuesday (June 4), Banyan stated, “The integration of Banyan’s item-level data capabilities presents exciting new possibilities for Bilt and its rewards network partners, allowing for more relevant, personalized, and unique rewards and benefits experiences for members.”
The Bilt Rewards program allows consumers to earn rewards on rent payments and everyday neighborhood spending, as mentioned in the post.
Consumers can earn Bilt Neighborhood Rewards by using any debit or credit card linked to their Bilt account. These rewards provide access to local benefits at restaurants, on Lyft rideshares, at fitness studios, and more, according to the post.
Additionally, Bilt Points can be redeemed for travel booked through Bilt’s platform, transferred to airline and hotel loyalty programs, or used towards a home down payment, as per the post.
Banyan’s platform organizes, matches, and makes item-level receipt data easily accessible, enabling its safe use for a wide range of commercial and consumer applications, according to the company’s website.
PYMNTS Intelligence found that card-linked offers, which attach special savings or rewards to specific merchants or products, are popular among cardholders.
Approximately 40% of cardholders consistently use these offers, and 93% of those who do plan to maintain or increase their usage in the next year, according to “Card-Linked Offer Growth Hinges on First-Time Users,” a PYMNTS Intelligence and Banyan report.
Michael Budde, Banyan’s COO and CFO, noted in the PYMNTS eBook, “The Implications of Uncertainty: Middle Market Companies Reckon with Risk and Reward,” that data and technology enable timely and relevant responses to market conditions.
By combining diverse customer spending datasets, Banyan’s platform promotes collaboration between merchants and financial institutions, Budde wrote.
“This provides a clearer understanding of purchase behavior at the receipt level and sales revenue attribution at the product or brand level,” Budde wrote. “When a consumer checks out at the local grocery store, they are making a decision based on multiple item-level choices, offering insights to the merchant, bank, and consumer that enhance a personalized experience.”
Source: Banyan & PYMNTS
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