REDWOOD CITY, Calif., Sept. 19, 2011 /PRNewswire/ -- Today, Truaxis (formerly known as BillShrink), a leading provider of data-driven personalized services, and Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, announced that Truaxis' award-winning StatementRewards platform has now gone live to more than eight million customers across approximately 2,500 banks and credit unions.
StatementRewards Platform: Delivering Value to Banks, Merchants and Customers
With StatementRewards, financial institutions and merchants can now craft specialized reward programs for loyal customers and easily implement and monitor them via a powerful dashboard. As a result, customers at the 2,500 participating banks and credit unions will now benefit from the following transaction-driven services:
- Transaction-Based Offers -- StatementRewards' offers are tailored to customers' existing shopping preferences and generated from their transactions, amounts spent, location and type of purchase at national and local merchants -- all without using any personally identifiable information.
- Personalized Bill Analysis -- Truaxis' proprietary technology analyzes customers' largest recurring monthly expenses -- such as wireless plans, TV service and gas purchases -- against millions of available plan options and finds customers an average annual savings of $1,000.
Future StatementRewards Features for JHA Platforms
Financial institutions, merchants and customers will also benefit from the following additional StatementRewards features, all of which will be available shortly for JHA platforms:
- Reward Discovery -- StatementRewards will show consumers any additional rewards that may be available if they expand their relationships with select merchants.
- Unified Loyalty Card -- StatementRewards will enhance bank and credit union credit and debit cards to create a multi-merchant loyalty card that manages all merchant loyalty benefits in one place.
- Mobile Geo-Location -- StatementRewards will be equipped to generate more attractive rewards depending upon a user's physical proximity to stores and past shopping habits.
- Social Ambassadors -- Banks and merchants will be empowered to build customer goodwill on social networks by enhancing reward offers if the customer opts to share these offers with their friends.
StatementRewards: Fast Deployment, Minimal Investment
With minimal integration requiring little to no IT investment, StatementRewards is designed for fast deployment, detailed reporting and the highest levels of security, all without using any customer's personally identifiable information.
"When it comes to ease-of-integration, power to deliver the broadest spectrum of transaction-driven services, including the best merchant-funded offers and ultimately bottom line results, Truaxis' StatementRewards is unrivaled. We are excited about the opportunity to offer it to our bank and credit union clients and their customers," said Pete Hopkins, General Manager of Internet Solutions for Jack Henry & Associates.
There is no charge for financial institutions that elect to offer StatementRewards to their customers.
"With StatementRewards, Ohio Valley Bank has the best of both worlds -- great rewards for our customers that also benefit local merchants. StatementRewards is the only solution that delivers so much to our community and improves our performance while building great brand loyalty too," said Bryna Butler, Vice President of Marketing and Electronic Strategy for Ohio Valley Bank.
"For banks and merchants looking to build positive relationships with their customers, StatementRewards is a game changer -- 97 percent of the people who use it tell their friends about it. As a rich transaction-driven services platform, StatementRewards is also one of the most powerful customer acquisition tool for banks and it also empowers merchants, helping them more easily reach, reward and build lasting relationships with valued customers," said Schwark Satyavolu, Co-Founder and CEO of Truaxis.
With the rollout, seven million financial institution customers using Jack Henry & Associates' NetTeller Online Banking™ solution and one million customers using iPay™ for online bill payment are able to receive in-statement rewards from the national and local merchants that they frequent.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar™ is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. Additional information is available at www.jackhenry.com.
About Truaxis' StatementRewards
Launched in October 2010, StatementRewards leverages a sophisticated analytics engine and the company's deep roots in banking and technology to deliver a broad spectrum of data-driven personalized services platform, including in-statement loyalty rewards that transform the relationships between banks and merchants, better serving their customers and building brand loyalty. StatementRewards uses secure matching technology and anonymous user transaction data to pair users with personalized merchant reward offers as well as powering other rich data-driven services like unified loyalty programs and mobile and social rewards. Truaxis' award-winning technology has been recognized twice by Finovate as a "Best in Show" and has received accolades from American Banker, The New York Times, Consumer Reports, Forbes, The Today Show, CNN, FOX, ABC and CBS, among others.
Truaxis was formerly named BillShrink. The company is headquartered in Redwood City, California. For more information, please visit www.truaxis.com.