Jwaala Partners with Truaxis to Provide Credit Unions with the StatementRewards Platform

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Leader in transaction-enabled services partners with online banking solution provider.

Truaxis, the leader in transaction-enabled services such as personalized card-linked discounts, has been selected by online banking solution provider, Jwaala, to launch StatementRewards to their credit union clients and reach millions of members using their Better Online Banking solution. Truaxis’ data-driven services platform allows these credit unions to provide personalized rewards and discounts, funded entirely by retailers, direct to their customers within the online or mobile banking environment. Truaxis’ platform supports the most robust offer portfolio, with over 70,000 offers from nearly 40,000 local, regional and national merchants. Truaxis uses sophisticated algorithms to analyze its dynamic inventory and match appropriate offers to credit union members in real time for maximum user satisfaction.

“We saw Truaxis’ StatementRewards technology as a lightweight and seamless addition to our services offered for our credit unions,” explains Kelly Dowell, COO of Jwaala. “The entire process—analyzing offers, handling presentment, 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.”

Truaxis’ personalized transaction-enabled services platform maximizes the value to credit union members by customizing rewards and discounts based on past purchase history, predictive analytics and collaborative filtering. Personalized offers have been shown to lift members’ share of spend and online engagement with their credit union, which deepens the relationship and increases member satisfaction and loyalty. Personalized offers are integrated within Jwaala’s Better Online Banking and Better Mobile Banking environments and presented via the credit union’s site.

“Continuing litigation and regulation on interchange fees have forced credit unions to get creative with their rewards programs,” said Schwark Satyavolu, Co-Founder and CEO of Truaxis. “Truaxis’ StatementRewards platform provides the most relevant and valuable rewards to cardholders. We also offer the country’s largest merchant network and our patented bill analysis for categories such as gas, cable and wireless service. The result is that credit unions working with Jwaala will increase their market competitiveness and member satisfaction by helping their members save hundreds of dollars yearly.”

About Truaxis
Truaxis is working with the country’s leading financial institutions and merchants to deliver the market’s most comprehensive data-driven personalized services platform.

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 and recommendations, as well as powering other rich features like a unified loyalty card, social benchmarking spend comparisons, and mobile and social rewards.

Truaxis is also the creator of BillShrink.com, a free consumer site that has helped millions of Americans find potential savings of more than $1 billion by delivering personalized money-saving recommendations on their most common household bills.

The company’s award-winning technologies have won the Innotribe award, been recognized twice by Finovate as a “Best in Show” and has received accolades from American Banker, US Banker, Kiplinger, The New York Times, Consumer Reports, Reuters, CNN, Time, Forbes and TechCrunch, among others. Truaxis is headquartered in Redwood City, California. For more information, please visit http://www.truaxis.com.

About Jwaala

Jwaala is delivering a new, powerful approach to online banking. Trusted by leading community financial institutions, Jwaala’s online and mobile banking platform provides a fresh, seamless approach to digital banking services, while providing the flexibility financial institutions need to remain leaders. Jwaala is Simply Better Online and Mobile Banking! http://www.jwaala.com

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Diana Dozier
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