AUSTIN, Texas (8/23/12)--Truaxis, a provider of in transaction-enabled services, has been selected by online banking provider, Jwaala, to offer Truaxis' StatementRewards through Jwaala's Better Online Banking solution.
Truaxis' data-driven services platform will allow Jwaala's credit union clients to provide personalized rewards and discounts, funded entirely by retailers, direct to their members within the online or mobile banking environment. Truaxis' platform includes more than 70,000 offers from nearly 40,000 local, regional and national merchants. It uses algorithms to analyze its inventory and match appropriate offers to credit union members in real time.
"We saw Truaxis' StatementRewards technology as a lightweight and seamless addition to our services offered for our credit unions," explains Kelly Dowell, chief operating office of Jwaala. "The entire process--analyzing offers, handling presentment and redemption, crediting the user's account--is handled by Truaxis. It requires minimal interaction from the credit unions and can be easily rolled out across our entire customer base. Our credit unions win because, at no cost to them, they're able to delight their members with savings from their favorite retailers," Dowell added.
Truaxis' personalized transaction-enabled services platform customizes rewards and discounts based on past purchase history, predictive analytics and collaborative filtering. Personalized offers have been shown to lift members' spending and online engagement with their credit union, which deepens the relationship and increases member satisfaction and loyalty, Truaxis said.