From Capital One, the data minining powerhouse:
Ms. Laube and her co-founder, Chief Executive Scott Grimes, started Cardlytics in 2008 after leaving Capital One bank. She said they had noticed several trends–cash was used at low rates and payments were becoming digital. Credit and debit cards gave banks extensive records on how consumers were spending their money, although the banks weren’t doing much with the data. Also, more consumers were banking online and through mobile devices.They decided to create a way for advertisers to use banks’ transaction data to target consumers with offers online. McDonald’s, for instance, could find people who had shopped at Burger King and offer them rewards. If consumers want the rewards, they click on them and use their bank cards to pay.