Experian has acquired a stake in software firm Reward Insight, cementing an existing commercial partnership between the pair.

As part of the investment, head of corporate development at Experian, Kashif Aslam, has joined the Reward board of directors with immediate effect.

The collaboration will focus on leveraging Experian’s data and audience activation capabilities, which includes consumer credit reports, to fuel Reward’s offerings across banks and retail and expand its reach to customers.

Experian suggested the companies will look to scale solutions across international markets, fusing technology and data analytics to provide improved services and more personalised rewards offerings, based on a better understanding of consumers needs and preferences.

Managing director at Experian Marketing Services, Colin Grieves, said: “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.”

Reward CEO, Jamie Samaha, added: “Experian’s investment in Reward is a powerful endorsement of our vision and international growth strategy. With a goal to give back $2bn 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.”

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