SAN FRANCISCO – April 7, 2008– Loyalty Lab, Inc., the fastest growing loyalty provider, announced today a strategic alliance with HSBC Finance Corporation’s card and retail services business to extend advanced loyalty and customer retention marketing (CRM) capabilities to retailers that offer private label and co-branded credit cards through HSBC.
The new alliance means HSBC’s more than 70 merchant partners have the option to employ Loyalty Lab’s rewards engine to power their private label, co-branded and CRM solutions. Merchants will be able to internally collect and analyze select information that will help merchants improve customer retention.
“Our alliance with Loyalty Lab allows HSBC to offer our merchant partners yet another unique, innovative solution to acquire, retain and reward customers,” said Patrick Burke, managing director and chief operating officer, card and retail services, for HSBC. “Linking HSBC’s customized private label credit solutions with Loyalty Lab’s comprehensive loyalty marketing platform will help retailers meet the needs of their customers, while building loyalty and increasing sales.”
“HSBC is the premier private label credit card issuer and we’re thrilled to be working together to put sophisticated loyalty and retention programs in the hands of their merchants,” said Mark H. Goldstein, CEO of Loyalty Lab. “Linking loyalty programs directly to the payment mechanism makes the most sense for consumers and the merchant. By working together, merchants will get faster integration and gain broader program capabilities.”
About Loyalty Lab, Inc.
Loyalty Lab, based in San Francisco, is the fastest-growing CRM solution for leading brands. Loyalty Lab’s flagship Customer Relationship Manager Suite provides retailers and service companies with integrated and on-demand loyalty program management, email, campaign management, and incentives from a single desktop. Clients include 1-800-Flowers.com, New York & Company, Spencer Gifts, TicketsNow, Bally Total Fitness and a number of other prominent retail and service companies. For more information visit http://www.loyaltylab.com.
About HSBC Finance Corporation
HSBC Finance Corporation is a subsidiary of HSBC North America Holdings Inc., one of the top 10 financial organizations in the United States with assets totaling more than $500 billion. HSBC Finance Corporation’s subsidiaries provide real estate secured loans, auto loans, general purpose credit cards, private label credit cards, personal non-credit card loans, taxpayer financial services and specialty insurance products. For more information, visit www.hsbcusa.com.
Public Relations Manager
HSBC – North America
Assistant Vice President Public Affairs