Banks sit on a wealth of customer credit, debit and online banking transaction data, and they have a growing number of options for mining that data to determine what products customers want to buy and when.
A number of vendors of transaction marketing software are helping banks sort through their customer data using sophisticated analysis engines that look at sometimes trillions of bytes of information. Each vendor has its own spin behind the scenes, with some focusing more on the merchants through merchant-funded reward programs, others on the banks, and some trying to serve both the merchants and the banks.
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