FTSE50 company Experian has acquired a strategic stake in Reward, an industry leader in customer engagement and commerce media.

Kashif Aslam, head of corporate development at global information services company Experian, will join the Reward board of directors with immediate effect. 

The investment cements an existing commercial partnership between Reward and Experian. The extended collaboration will focus on leveraging Experian’s rich data and audience activation capabilities to fuel Reward’s offerings across banks and retail, expanding reach to create a more rewarding experience for consumers.

The pair will also look to scale solutions across international markets, fusing technology and data analytics to provide improved services and more personalised rewards offerings.

“Experian’s investment in Reward is a powerful endorsement of our vision and international growth strategy. With a goal to give back $2 billion to customers by 2025, we are excited to leverage Experian’s global footprint and capabilities to enhance our service offering to our bank and retail partners” said Jamie Samaha, CEO at Reward.

Kani Payments gears up for global growth with senior hires

Colin Grieves, managing director at Experian Marketing Services, added: “Our investment in and partnership with Reward is an exciting step forward for our business.  

“Reward’s principal belief that everyday spending should be rewarded is entirely aligned with our mission to help consumers improve their financial well-being. We look forward to developing our joint capabilities to help Reward service it’s banking and retail communities both in the UK and internationally. 

“There is a great deal we can and will do together.”

AI pioneers: 1st Manchester Prize finalists unveiled