American Express, a multinational financial services corporation, partners with Ascenda, a global loyalty management company to jointly launch credit card loyalty programs for banks in South Korea. This 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.

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. Also, American Express provides customers with access to products, insights and experiences that enrich lives and build business success. This partnership is thus a positive assurance towards betterment of shopping and reward experience of its Korean customers.

The partnership with Ascenda enables us to equip issuing banks with a world class rewards offering that drives customer engagement and purchase volume

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

Advanced points engine technology is a cutting-edge digital user experience, inspiring rewards content and plug & play loyalty marketing, 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.

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