JPMorgan Chase Acquiring a Leading Travel and Loyalty Business
JPMorgan Chase & Co. (NYSE: JPM) and cxLoyalty Group Holdings today announced they have signed an agreement for JPMorgan Chase to acquire the Global Loyalty business of cxLoyalty Group Holdings. The deal includes cxLoyalty’s leading technology platforms, full-service travel agency, gift card, merchandise, and points bank businesses.
“This investment demonstrates our commitment to deliver exceptional travel benefits at-scale to our large and rapidly growing customer base. People across the globe want to vacation and travel again, and hopefully that will become a reality for many in the near future. Acquiring the travel and rewards businesses of cxLoyalty will provide enhanced experiences to our millions of Chase customers once they are ready, comfortable and confident to travel,” said Marianne Lake, Chief Executive Officer of Consumer Lending at JPMorgan Chase.
cxLoyalty is a leading loyalty and technology solutions company with over 40 years of experience. Their expertise in designing, administering and fulfilling loyalty programs complements JPMorgan Chase’s reputation of providing customers with elevated and differentiated value. The deal is expected to accelerate the strong foundation built in loyalty, including for Chase’s Ultimate Rewards platform and cxLoyalty’s existing clients, to enable a more holistic, end-to-end customer travel journey for all customers. The cxLoyalty brand and existing client relationships will continue to be led by cxLoyalty Group CEO Todd Siegel.
“JPMorgan Chase is the right partner to further invest in our leading loyalty business,” said Todd Siegel, Chief Executive Officer of cxLoyalty. "This partnership allows us to strengthen and expand our technology solutions, rewards content and world class personalized customer experience for our Fortune 500 clients and their millions of customers, globally.”
Ms. Lake adds, “We welcome Todd and cxLoyalty to JPMorgan Chase, and look forward to creating more value for our shared customers and clients.”
JPMorgan Chase credit card customers will continue using Ultimate Rewards as usual and over time, will have access to enhanced travel experiences.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com .
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
TX-GPD-COMPANIES22.1.2021 14:35:10 CET | Press release
GPD Companies, Inc. to Acquire Distrupol
TX-SCHLUMBERGER22.1.2021 12:52:04 CET | Press release
Schlumberger Announces Fourth-Quarter and Full-Year 2020 Results
CA-ANDERSEN-GLOBAL22.1.2021 11:04:11 CET | Pressemeddelelse
Andersen Global styrker sin afrikanske platform med Kashadah & Co.
JEOL22.1.2021 07:02:12 CET | Press release
JEOL: Release of a New Cold Field Emission Cryo-Electron Microscope CRYO ARM™ 300 II (JEM-3300)
DAWEX/NUMALIM/ORANGE22.1.2021 01:58:07 CET | Press release
NumAlim Selects Dawex and Orange Business Services for its Data and Services Exchange Platform
VIIV-HEALTHCARE21.1.2021 23:14:12 CET | Press release
ViiV Healthcare announces FDA approval of Cabenuva (cabotegravir, rilpivirine), the first and only complete long-acting regimen for HIV treatment
DE-INCYTE21.1.2021 22:32:11 CET | Press release
Incyte Announces Acceptance and Priority Review of BLA for Retifanlimab as a Potential Treatment for Patients with Squamous Cell Carcinoma of the Anal Canal (SCAC)
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom