Ascenda, a worldwide loyalty management firm and American Express have joined hands for a long-term, strategic partnership to launch credit card loyalty programs jointly for the banking systems in South Korea.

Due to this alliance, banks will be provided with a turnkey premium loyalty program, this would not only make it easy but also would be cost-effective for American Express card issuers who can now offer world-class rewards products in the market of South Korea.

Ascenda powers a leading-edge digital user experience, Advanced points engine technology, play loyalty marketing, as well as, inspiring rewards content and plug. The partnership is highly unique in the market as it is inclusive of a comprehensive point’s liability management, providing help to the banks in managing the uncertainties of rewards liabilities on their income statements.

The General manager of American Express Korea, Soomin Om, passed a statement saying that the Korean consumers are amongst the most rewards conscious, as well as, digitally savvy present anywhere in the world. By partnering up with Ascenda, we will be enabled to equip issuing banks with world-class rewards offering that would not only drive customer engagement but also purchase volume.

The Chief Commercial Officer of Ascenda, Sebastian Grobys stated that they are pleased to have worked with American Express in the fast-moving, as well as, dynamic Korean market. The alliance delivers on its mandate of owning, as well as, operating rewards programs for leading financial services brands.

The American Express Company is also famous as Amex. It is an American multinational financial services corporation that has its headquarters in New York City. The firm was discovered in 285- and is amongst the thirty components of the Dow Jones Industrial Average.