Citi launched Citi Commerce Media, a platform that connects brands with US credit-card customers across the bank’s digital ecosystem. The service draws on insights from more than 70 million US customers and 6.5 billion annual transactions across over 700 spending categories. It combines consumer insights, paid media solutions and closed-loop measurement.
The platform follows Citi’s agreement to acquire Kard, a commerce-media and rewards business, although that transaction remains subject to closing conditions. Citi said the planned addition of Kard would further enhance the platform’s capabilities and expand opportunities for brands to drive deeper customer engagement, loyalty and growth.
TRANSACTION INSIGHTS SUPPORT TARGETING
Citi Commerce Media is intended to identify high-intent audiences and emerging purchasing patterns from first-party transaction data. Advertisers can reach customers through Citi.com, the Citi Mobile app and paid-media properties. Citi said the platform draws on its view of how consumers spend across travel, dining, entertainment, retail and everyday categories.
Closed-loop measurement links media exposure with subsequent transaction outcomes, allowing advertisers to assess campaign performance and incremental impact. Citi reported that early campaigns across retail, payments, technology, beauty and wellness included an online retailer that achieved up to five times incremental return on advertising spend.
KARD DEAL COULD EXTEND CAPABILITIES
Citi agreed in August to acquire Kard; the deal is subject to customary closing conditions and its terms were not disclosed. Until the deal closes, Citi and Kard will continue to operate as independent organisations.
Citi is the latest large US financial services group to launch a media platform built on its transaction data. Abhinav Anand, Citi’s Head of Value Cards, Lending and Commerce, called the platform “an important step in advancing Citi’s strategy to create more connected, personalized experiences across our commerce ecosystem”.