BillShrink Changes Its Name to Truaxis

REDWOOD CITY, Calif., Sept. 14, 2011 /PRNewswire/ -- Today, the company behind the financial technology innovation StatementRewards and the popular money-saving search engine BillShrink.com, announces its new corporate name Truaxis (www.truaxis.com). The new Truaxis name reflects the company's expanded service offerings, including its ability to intelligently and securely use transaction data sets to enhance relationships between financial institutions, businesses, merchants and their customers.

"Since launching StatementRewards in October 2010, our platform has evolved to encompass many more personalized services, growing beyond the initial bill analysis," said Schwark Satyavolu, co-founder and CEO of Truaxis. "Through the online bank environment, we help consumers find greater value in their relationships with their financial institutions and their favorite retailers.  Truaxis has a unique ability to work with both financial institutions and businesses to deliver a wide range of innovative personalization services through our award-winning StatementRewards platform and other forthcoming breakthrough products."

StatementRewards leverages Truaxis' deep roots in banking and technology to offer rich data-driven personalization services that transform any financial institutions' credit, debit or prepaid cards into a master loyalty card, enhanced with merchant rewards and discounts across multiple banking channels.  The platform leverages transactional data to generate personalized and real-time rewards that help banks and merchants build positive relationships with their customers. Integrated social and mobile features complement the offering and drive new customer acquisitions.  

• Used as a powerful customer retention tool, StatementRewards helps financial institutions increase loyalty, card spend and top-of-wallet card usage.

• With geo-mobile features and a unified loyalty program, StatementRewards enables merchants to more easily reach and reward valued customers to build lasting relationships.

• Driving personalized services off of bank customers' transaction information—securely, and without the use of personally identifiable information—StatementRewards identifies relevant rewards and value added services from an individual's favorite merchants.

• For bank customers, StatementRewards is a free, convenient service that takes the guesswork out of traditional loyalty programs. With geo-location features, monthly bill analysis, merchant-level spend summaries, social benchmarking and other personalization services, the platform helps customers save money and fosters loyalty with their banks and favorite merchants.

StatementRewards Now Available to More Than Eight Million Bank Customers

Truaxis recently announced that Jack Henry & Associates, Inc., a leading provider of technology solutions and payment processing solutions primarily for the financial services industry, has integrated StatementRewards into its technology offering.  Through this partnership, StatementRewards is now live on the bank statements of more than eight million customers across 2,500 banks and credit unions.    

About Truaxis  

Truaxis (formerly known as BillShrink), the company behind StatementRewards and BillShrink.com, is working with the country's leading financial institutions and merchants to deliver the market's most comprehensive data-driven personalization services platform.  

Launched in October 2010, Truaxis' StatementRewards platform leverages sophisticated analytics and matching capabilities to deliver a broad spectrum of data-driven services, including in-statement loyalty rewards that transform the relationships between banks and merchants, help better serve their customers and build brand loyalty. StatementRewards uses secure matching technology and anonymous user transaction data to pair users with personalized merchant offers, as well as powering other rich features like a unified loyalty card and mobile and social rewards. 

Truaxis' free consumer site, BillShrink.com, has helped 1.6 million Americans find potential savings of more than $1 billion by delivering personalized money-saving recommendations on their most common household bills. In an era when eight out of 10 people overpay on their everyday bills, BillShrink.com sorts through millions of products and services – a billion cable and satellite packages, 10 million cell phone plan combinations, and 150,000 gas stations – to provide unbiased recommendations so users can get exactly what they need at the best price.

Truaxis' award-winning technologies have been recognized twice by Finovate as a "Best in Show" and have received accolades from The New York Times, American Banker, Consumer Reports, Forbes, The Today Show, CNN, FOX, ABC and CBS, among others. Truaxis is headquartered in Redwood City, California. For more information, please visit www.truaxis.com.

SOURCE Truaxis