US fintech group Cardlytics is bolstering its attack on the “open banking” market with the appointment of Aimia global digital strategy director Jed Murphy, who takes up the post of UK head of strategy and innovation.
The US firm, which has raised almost $200m in equity financing since 2009, launched in the UK in 2013 as a springboard to the European market. Its first platform was a targeted advertising scheme, with Lloyds Banking Group signing up as launch client.
Murphy’s newly created role will focus on using emerging platforms and digital technology to develop new products and services, and will be based in Cardlytics’ European headquarters in London.
His appointment comes as both banks and brands look at opportunities brought by the forthcoming open banking directive under PSD2, particularly around customer experience.
Opinion is divided over who will be the big winners; established banks or new entrants. One thing is sure, however, is that innovation partners are likely to play a major role in the shake-up.
At Aimia, Murphy was primarily focused on shaping the loyalty giant’s digital strategy, including using technology to boost customer experience. He was instrumental in helping to develop and shape several of Aimia’s own programmes, including the Nectar loyalty scheme in the UK.
His other projects included developing Sainsbury’s SmartOffers micro-location offering to shoppers and establishing Aimia’s approach to digital payments, artificial intelligence and machine learning.
Prior to joining Aimia, Murphy was a director of interactive marketing at Carlson Marketing, where he worked for major brands such as BT, Coca-Cola, Diageo, British Airways, Hyundai Motors and Arla Foods.
“Jed brings a brilliant blend of skills to Cardlytics. His expertise in working with cutting-edge technologies and experience in developing one of the country’s most popular loyalty schemes will be crucial in shaping and expanding Cardlytics’ offerings,” said Peter Gleason, president of international operations at Cardlytics. “Jed has a wealth of digital knowledge, and we’re thrilled to have him on board as we approach the new open banking regulation.”
Murphy added: “How banks adapt to providing personalised services and finding new ways to engage customers will either make or break their relationships with account holders over the coming years. Having spent the majority of my career in customer-focused innovation, working with large consumer-facing brands, I’m excited to join Cardlytics in helping the financial services industry adapt a new kind of mindset in the midst of current tech disruption.”
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