Bync Uses Your Credit Card and Bank Data to Offer Accurate Deals
Michael Hines — December 24, 2012 — Lifestyle
References: bync & springwise
Bync is a new site that aims to deliver accurate daily deals based upon what you buy. Bync connects directly to your bank and credit cards to see what you buy and where you buy it from. Using that data, Bync is able to let you know when brands and stores that you like are offering deals.
Letting a start-up access your banking and credit card history may sound a little creepy, but Bync's methods are the same as those used by grocery store loyalty programs. The company is working with over 10,000 banks, so it's more than likely that your financial institution is connected to Bync. The start-up still looks to be in private beta testing; you need to ask for an invite to join.
Letting a start-up access your banking and credit card history may sound a little creepy, but Bync's methods are the same as those used by grocery store loyalty programs. The company is working with over 10,000 banks, so it's more than likely that your financial institution is connected to Bync. The start-up still looks to be in private beta testing; you need to ask for an invite to join.
Trend Themes
1. Personalized Deal Curation - Opportunity for businesses to create targeted deals for individual customers based on their purchase histories and preferences.
2. Data-driven Loyalty - Opportunity for businesses to harness customer transactions to create more customized and effective loyalty programs.
3. Secure Data Sharing - Opportunity for businesses to explore more secure and transparent methods of accessing customer data to provide value-added services.
Industry Implications
1. Retail - Opportunity for retailers to use personalized deal curation to offer more targeted promotions and increase customer loyalty.
2. Banking - Opportunity for banks to partner with data-driven loyalty programs to offer more personalized and valuable services to their customers.
3. Fintech - Opportunity for fintechs to build more secure and transparent platforms for accessing and analyzing customer financial data to facilitate personalized services.
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