American Express partners with Ascenda to launch credit card loyalty programs in South Korea

SEOUL,South Korea,Nov. 24,2019 -- American Express and Ascenda,a global loyalty management company,have signed a strategic partnership to jointly launch credit card loyalty programs for banks in South Korea.

The partnership provides banks with a turnkey premium loyalty program,making it easy and cost-effective for American Express card issuers to offer world-class rewards products in the Korean market.

Advanced points engine technology,a cutting-edge digital user experience,inspiring rewards content and plug & play loyalty marketing are powered by Ascenda. Unique in the market,the partnership also includes comprehensive points liability management,helping banks manage the uncertainties of rewards liabilities on their balance sheets.

"Korean consumers are some of the most rewards conscious and digitally savvy anywhere in the world," said Soomin Om,General Manager,American Express Korea. "The partnership with Ascenda enables us to equip issuing banks with a world class rewards offering that drives customer engagement and purchase volume."

"We are delighted to work with American Express in the dynamic and fast-moving Korean market," said Sebastian Grobys,Chief Commercial Officer,Ascenda. "The partnership delivers on our mandate to own and operate rewards programs for major financial services brands."

About American Express

American Express is a global services company,providing customers with access to products,insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress,instagram.com/americanexpress,linkedin.com/company/american-express,twitter.com/americanexpress,and youtube.com/americanexpress.

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About Ascenda

Ascenda is a global leader in innovative loyalty solutions and operates premium rewards propositions for major financial services and travel brands worldwide.

With a mandate to make loyalty simple,Ascenda's solutions are easy to manage,fast to deploy and designed to deliver exceptional customer value. From end-to-end loyalty management to modular solutions such as the TransferConnect currency network,redemption capabilities and loyalty marketing,Ascenda supercharges the world's leading loyalty programs to build enduring customer relationships.

For more information about Ascenda,please visit www.ascendaloyalty.com.