Cardlytics ($CDLX): AmEx and Capital One Interview About CDLX (Research Note #214)
Notes and thoughts on the recent call regarding AmEx Offers and Capital One Shopping, with comparisons and discussions related to CDLX.
Market Cap as of 12.14.2023: ~$8.47 / Share x 39.3M Shares ~ $333M Market Cap.
(#214): AmEx and Capital One Interview About CDLX
This was one of the more insightful interviews I have read in a while. There was a lot of information I had not heard anywhere else.
On December 4, 2023, a new In Practise transcript was released, with the Former Director Amex Offers at American Express, in an interview called, “Cardlytics & American Express: A Card-linked Offers Comparison”.
For additional context on what will be discussed, this former director of AmEx is now at Capital One. Therefore, a portion of the discussion is also on Capital One.
More specifically, in this CDLX Research Note I will be discussing and providing commentary / thoughts / additional notes on the following:
AmEx’s Previous Pilot of CDLX Offers (details I have never heard before)1
AmEx Testing an API with CDLX
Background on the AmEx Pilot of CDLX Offers
AmEx Merchant Team
Details on the Past Pilot
Targeting vs Sharing
Benefits of Open Banking for CDLX (According to former AmEx director)
What CDLX Needs to Add
AmEx Offers vs CDLX Offers (strengths and weaknesses of both)2
Business Insights Provided by AmEx to Clients3
Who Funds AmEx Offers4
AmEx Attracting New Users + Focus on Recurring Payments5
Co-Brands6
Structure of AmEx Offers (and how they make money)7
How AmEx Views Their Offers (and the opportunity for CDLX)8
AmEx Offers Algorithm9
Different Types of AmEx Campaigns10
AmEx Incrementality and Reporting11
Tender Switching (and the opportunity for CDLX)12
Engagement of AmEx Users (and the opportunity for CDLX)13
AmEx SKU Offers (and the opportunity for CDLX)14
Future State of CDLX Offers15
Capital One vs AmEx / CDLX16
Capital One Shopping17
Capital One’s Thoughts on Using CDLX18
CDLX Dashboards19
Closing20
You can simply read this in order, but for my own benefit with referencing this in the future I used footnote links to be able to quickly go to a given section. View this post in a browser to use the footnote links to go to a specific section.