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American Savings Bank Launches TravelAwards Plus Online Mall from Mall Networks.

Mall Networks and RewardsNOW Integrate Solutions to Combine Loyalty Shopping and Rewards Programs for Financial Services

LEXINGTON, Mass. -- Mall Networks, the leading provider of merchant-funded loyalty shopping solutions, today announced the launch of the American Savings Bank (American) TravelAwards Plus(SM) Online Mall. TravelAwards Plusis the bank's loyalty program that allows customers to earn points for using their personal or business check card or credit card. Mall Networks partnered with RewardsNOW - a leading provider of financial services loyalty marketing programs - to integrate its products to combine loyalty shopping and rewards programs for financial services organizations like American. The TravelAwards Plus Online Mall features more than 500 merchants, including such brands as Macy's, Apple, Staples, Lands' End, and Target.

American Savings Bank was looking for a turnkey solution to increase customer loyalty among its more than 310,000 customers, as well as to enhance value for the more than 100,000 customers enrolled in its TravelAwards Plus program. With the RewardsNOW and Mall Networks partnership, American is able to offer its customers a fully integrated loyalty program featuring both membership rewards and merchant-funded loyalty shopping that offers exclusive deals, discounts and promotions to customers. American customers earn points every time they shop at the online mall and redeem those points for gift cards and certificates, brand name merchandise, and travel.

"American Savings Bank is wholly committed to customer service excellence, and a world-class loyalty program is central to that philosophy," said Terry O'Reilley, Vice President of Consumer Marketing and Product Development. "We chose to work with Mall Networks and RewardsNOW because of their record of success in working with financial service institutions and their best-of-breed, efficient solutions that are fully integrated to enable us to build customer loyalty."

RewardsNOW has set the pace for innovation in the industry when it comes to expanding rewards programs beyond the usual credit or debit card points. The company's Full Spectrum Rewards[TM] offering covers virtually every product and service a bank or credit union might offer. This includes auto loans, deposits, mortgages, online banking, loan applications, home equity lines of credit, and other products, as well as credit and debit cards.

"Our clients are looking to reward their best customers, and enhance service and loyalty across their entire customer base," said Steven Van Fleet, President and CEO of RewardsNow. "Mall Networks' merchant-funded loyalty shopping solutions enable our joint clients to cost-effectively offer customers compelling deals, discounts and promotions that they can easily access, while strengthening the relationship between the bank and its customers. American Savings Bank is the first of many joint customers to take advantage of this valuable partnership."

Powering its suite of loyalty shopping solutions, Mall Networks provides a strategic merchant network of more than 700 leading online and in-store merchants, including world-class online merchants such as eBay, Travelocity, Best Buy, Staples, Apple, and Sears. Customers may shop online, in-store, or through catalogs and take advantage of special offers, and earn rewards every time they shop. Mall Networks has forged strategic relationships with the top merchants in order to deliver a personalized, compelling shopping experience for consumers that drive key loyalty metrics such as engagement and spend.

"In the ultra-competitive world of financial services, banks are realizing that loyalty programs are no longer a check-box. They need to be a competitive differentiator," said Dave Andre, President and CEO of Mall Networks. "By integrating our solution with RewardsNOW, we can offer banks like American Savings Bank the industry's most complete, cost-effective loyalty solution delivering a turnkey rewards program featuring merchant-funded loyalty shopping."

About American Savings Bank

Serving Hawaii's business and communities for more than 80 years, American Savings Bank is Hawaii's third-largest financial institution based on 2007 year-end asset size and has the second-largest branch network in the state, with 63 branches and over 200 automated teller machines. American Savings Bank provides a full range of financial products and services, including commercial and consumer banking, insurance and investments. For more information, visit asbhawaii.com

About RewardsNOW

RewardsNOW is a premier provider of marketing services for the financial industry, designing, implementing, and managing turnkey direct marketing and rewards programs for all bank products, including debit and credit cards. RewardsNOW products and services generate incremental profits from increased customer acquisition, increased product usage and lower customer attrition rates. The company is based in Dover, New Hampshire.

About Mall Networks

Mall Networks is the leading provider of merchant-funded loyalty shopping solutions that increase revenue, strengthen customer loyalty, and improve member engagement for a range of industries including financial services, card issuers, airline and hospitality, affinity organizations and loyalty programs. Featuring an integrated network of more than 700 world-class online and bricks-and-mortar merchants, Mall Networks' multi-channel shopping solutions and flexible, on-demand platform power personalized online and in-store shopping programs for more than 30 million consumers. Industry leaders including JPMorgan Chase, Upromise, Verizon, Shop.org, Spirit Airlines, Virgin, and NASCAR rely on Mall Networks to build loyal, profitable customer relationships. Mall Networks is headquartered in Lexington, Mass. For more information, visit www.mallnetworks.com.
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Publication:Business Wire
Date:Aug 20, 2008
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