Virgin Money Australia partners with Ascenda to deliver new loyalty programme later this year

SYDNEY,Sept. 29,2020 -- Ascenda,a global loyalty solutions company has been selected by Virgin Money Australia (part of the Bank of Queensland Group)to deliver market-leading reward capabilities within its newly announced digital bank.

Virgin Money Australia partners with Ascenda to deliver new loyalty program later this year.

The partnership will leverage Ascenda's market leading technology to help launch a new loyalty programme that aims to reimagine the way customers are engaged and rewarded. Virgin Money Australia will look to reward customers for positive behaviours beyond transactional spend or upfront bonuses that traditional programmes focus on.

The new loyalty programme has been designed with Virgin Money Australia customers at the heart of the experience. A programme that will allow customers to earn points and unlock personalised offers,all from the palm of their hands anywhere in the world.

Virgin Money Australia customers will be rewarded on a wide range of everyday behaviours,like achieving their savings goals,staying within their spending target,shopping online or on purchases they make in store.

Mr Greg Boyle,Virgin Money Australia CEO said: "Australians are well aware of the value they deliver to the banks,but they don't believe this is reflected in the service they receive. Instead they feel unrecognised and undervalued. We're going to change that. We want our customers to feel recognised and rewarded every day they're with us. Recognising loyalty should go beyond typical upfront bonuses or transactional rewards. We want to share value with our customers,whether it's as they grow their relationship with us,to help them celebrate achieving their own financial goals,or to thank them for choosing us."

"Ascenda's cloud-based API and white label capability is key to helping us achieve this. It will allow us to offer our customers red-hot and relevant rewards across a broad range of day-to-day banking activities,behaviours and events," concluded Mr Boyle.

Sebastian Grobys,Ascenda's Chief Commercial Officer,added,"We're delighted to partner with Virgin Money Australia to help them bring to market a new and exciting loyalty proposition. With Ascenda's next-generation platform,Virgin Money Australia will benefit from speed-to-market,the flexibility to continuously innovate going forward,and operational efficiencies."

Ascenda has commenced implementation and is progressively deploying its technology across the project.

About Ascenda

Ascenda is a global provider of innovative loyalty solutions powering rewards propositions for leading financial services and travel brands worldwide.

Ascenda makes loyalty simple through solutions rooted in simplicity and beautiful design. With deep market expertise,best-in-market technology and a rich global content network,Ascenda delivers fully digital,user-friendly and highly compelling rewards offerings that eliminate the trade-off between cost and customer value.

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

Media Contact:

Valerie Perridon

valerie.perridon@ascendaloyalty.com

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