Cardlytics: Santander, Lloyds, & The Bank Side
Former Account Director at Cardlytics
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Cardlytics: Santander, Lloyds, & The Bank Side(August 31, 2021)
Michael Vincent
Former Account Director at Cardlytics
Michael is the former Account Director at Cardlytics where he was responsible for managing both Santander and Lloyds. He was working with the banks on improving the UI, marketing the service with the banks, and managing the overall relationship to deliver value to FI’s. Michael was also involved in developing and pitching the Open Banking products to UK banks in 2019.
In Practise Notes
- The first banks that CDLX sign in a market have favourable terms and given the consolidated structure of banking, it's unclear how much leverage CDLX have to improve FI share paid to banks.
- Being a top priority for the bank is the biggest challenge for CDLX
- It seems like CDLX has a data advantage from the OSP integration with banks although it's not clear how open banking reduces this advantage over time.
- Open Banking risks and opportunities for CDLX and banks
- CDLX potential advantages in an open banking world
- Interesting insight into how the banks look at FI share and the cost-benefit trade off using CDLX.
Interview Transcript
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