Thanks to the acquisition of a modern and scalable technology platform developed by cxLoyalty, JPMorgan Chase will transform its comprehensive offer of cruise services.
NEW YORK - (BUSINESS WIRE) - JPMorgan Chase & Co. (NYSE: JPM) and cxLoyalty Group Holdings today announced the signing of an agreement to acquire global loyalty services by JPMorgan Chase from cxLoyalty Group Holdings. The transaction provides for the acquisition of leading technology platforms developed by cxLoyalty, the functionality of a travel agency offering a full range of services, gift cards, company goods and banking services.
“This investment reflects our commitment to offering exceptional travel benefits to a wide and rapidly expanding group of our customers. Citizens all over the world want to go on vacation and travel again and we hope that many of them will be able to fulfil this desire in the near future. Thanks to our acquisition of travel and benefit functionalities developed by cxLoyalty, we will provide millions of Chase customers with an additional, unforgettable experience that they will be able to use as soon as they feel ready to resume travelling, ”said Marianne Lake, director of the customer service at JPMorgan Chase.
cxLoyalty is a company with over 40 years of experience, being a leader in loyalty and technological functionalities. Her experience in designing, managing and implementing loyalty programs will contribute to improving JPMorgan Chase's reputation already known for offering added value to customers. It is anticipated that this transaction will further strengthen loyalty-based ties with customers, including through the Chase Ultimate Rewards platform, and will allow the acquisition of a group of cxLoyalty customers, allowing all customers to take advantage of more holistic, comprehensive travel services. The CEO of the Todd Siegel Group will handle the cxLoyalty brand and relations with the current group of customers.
"JPMorgan Chase is the right partner to continue to invest in our leading loyalty business," said Todd Siegel, cxLoyalty CEO. "This partnership will enable us to strengthen and expand the range of technology solutions, bonus programs and personalized world-class services we offer to our Fortune 500 customers and millions of their customers worldwide."
Ms Lake adds: "We welcome Todd and the company and cxLoyalty to JPMorgan Chase, and we look forward to creating added value for both companies to benefit from."
JPMorgan Chase credit card customers will continue to be eligible for Ultimate Rewards and will also gain access to an extended travel bonus offer over time.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services company with assets of $ 3.2 trillion and a global presence. The company is a leader in investment banking, financial services for individuals and small businesses, commercial banking, financial transaction processing and asset management. As part of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of clients in the United States and many of the world's most distinguished corporate, institutional and government clients. About JPMorgan Chase & Co. are available at www.jpmorganchase.com .
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Source: JPMorgan Chase & Co.
Source of information: Business Wire
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