The new Citi Commerce Media features consumer insights garnered from the bank’s 70 million U.S. customers and their 6.5 billion annual transactions. It combines these insights with paid media solutions and closed-loop measurement, according to the release.
For advertisers, Citi Commerce Media delivers deeper audience understanding, measurable business impact and brand-safe environments, the release said. For Citi customers, it offers a way to discover brands and offers that meet their needs, per the release.
“Citi Commerce Media is an important step in advancing Citi’s strategy to create more connected, personalized experiences across our commerce ecosystem,” Abhinav Anand, head of value cards, lending and commerce at Citi, said in the release. “By leveraging Citi’s scale, transaction insights and measurement capabilities, we can help our partners better anticipate consumer needs, reach the right audience at the right moment and drive strong business outcomes while delivering more relevant offers and ads for customers.”
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Citi Commerce Media’s capabilities will be expanded by Citi’s planned acquisition of Kard, which is a commerce media and rewards platform, according to the release.
Citi announced in August that its U.S. Consumer Cards business plans to expand its customer engagement and commerce media capabilities by acquiring Kard.
The transaction is subject to customary closing conditions, and the companies will continue to operate as independent organizations until the transaction closes.
Anand said at the time in a press release that Citi aims to help customers get more value from their everyday spending and that Kard’s capabilities complement the bank’s vision.
“With this acquisition, we believe we can work with Kard to accelerate innovation and deliver more personalized experiences for customers while creating new opportunities for brands and merchants to reach, engage and reward consumers in more meaningful ways,” Anand said.
PYMNTS reported in August that commerce media operations can connect advertising exposure with subsequent shopping activity, making the transaction valuable beyond the merchandise margin itself.
When Mastercard unveiled a commerce media network in October, the company said the new offering would benefit advertisers by helping them make the most of their budgets and would benefit consumers by delivering relevant content and offers.
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