REDWOOD CITY, Calif. (9/23/11)--Truaxis, a provider of data-driven personalized services, has released a tool that gives credit union members and bank customers personalized merchant recommendations on their monthly online statements. Using Truaxis’ StatementRewards platform, the new tool, called Purchase Insights, provides customers with recommendations for merchants that people with similar spend patterns enjoy. Purchase Insights delivers spending summaries that analyze merchant, category and location data to give consumers insight into their spending habits over time, providing perspective on where money is going and how it can best be spent. Purchase Insights includes three features:
* Merchant recommendations based upon customers’ shopping preferences and patterns: helps customers discover new merchants that millions of other consumers with similar tastes frequent. * Social benchmarking: allows users to compare their spending against multiple groups of people, including a national average and people like them. Credit union members and bank customers can compare their spending across purchase categories, specific merchants, time periods or geographic location against U.S. averages, state averages, demographic sectors or even compare their spend against a created, private group of friends and family contacts. * Summary of spending: delivers graphical reports of where consumers are spending their money, including the industry's first merchant-specific reporting, specifically, purchase category, merchant; time period, and geographic location.
The StatementRewards platform includes merchant-funded rewards, personalized bill analysis and a suite of data-driven personalized services that help financial institutions and merchants build relationships with their customers.