Daali teams up with Salt Edge to add an open banking boost to loyalty and reward programmes
Daali, a UK-based automated cashback platform for in-store card transactions, partners up with Salt Edge, a leader in providing open banking solutions, to transform the way reward and loyalty work for brick-and-mortar stores, by making bank accounts’ connection to the app seamless and safe.
Online retailers bring in more than $12 billion a year using cashback affiliations marketing whereas physical stores don’t have that opportunity. Daali is on a mission to bring physical stores to the same level playing field as the online retailers by automating the cashback affiliate marketing for in-store card transactions to incrementally grow their revenue. Having almost a decade of experience in restaurant administration, the Co-founder of Daali Bishnu Gaire has always been struggling to implement an effective loyalty programme. The “aha” moment was when he discovered open banking and understood how it can dramatically change the way reward and loyalty programmes work.
Leveraging Salt Edge’s open banking solutions, Daali offers its customers a safe and instant way to connect their bank accounts to the app and automatically start receiving rewards. No need to carry a loyalty card, scan a QR code or ask for points at the checkout. With 75% of Daali users using the open banking feature, currently, there are more than 13,000 bank accounts connected to the app. Using Account Information and Transaction Categorisation, Daali offers their retail customers enhanced analytics based on transactional data, providing more insights into their customers’ buying behaviour. Enriched and categorised data can be used to create a more accurate analysis of consumers buying patterns to build a more personalised business approach and customised special offers.
Bishnu Gaire, Co-Founder at Daali
Loyalty and reward programmes work well when it is done right, and together with open banking, it is truly a perfect match. We launched in October 2021 and already reached 10,000 downloads. The fact that most of the users that download the Daali app connect their bank accounts, shows that Salt Edge has done a great job in open banking and consumers are loving the value proposition we are providing. Currently, we are focusing on the UK market, but as open banking is expanding globally in exponential numbers, why not expand globally too, and Salt Edge global coverage will make this goal even closer.
Mark Perlov, Lead Project Manager at Salt Edge
Open banking is destined to uncover benefits for any business, enhancing it and as a result, making it comprehensive and fully featured. Here at Salt Edge, we see that Daali is truly solving an issue, offering a seamless loyalty & reward programme to underserved physical stores. As a result, bringing revolutionary changes to the whole industry. Partnering with Daali paves the way to a whole new loyalty and reward experience, resulting in happy clients and merchants.
Daali is a consumer engagement platform for brick-and-mortar stores and effortless savings for the customers. Consumers are rewarded Daali points from small to large brands for shopping as usual. Daali points are then claimed against various rewards such as gift cards, deals, and experiences. We also provide brands with their own transactional data-based loyalty platform allowing them to gain a much more accurate analysis of their customer’s buying behaviour. We analyse the real-time data and customers’ buying behaviour to build a personalised direct marketing platform for businesses.
About Salt Edge
Salt Edge – a financial API platform with PSD2 and open banking solutions. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and AISP licensed under PSD2, the company employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with 5,000+ financial institutions in 50+ countries.