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
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
eShopWorld Appoints Martim Avillez Oliveira as Chief Commercial Officer - EMEA and APAC13.4.2021 08:01:00 CEST | Press release
eShopWorld (ESW), the leading cross-border ecommerce technology and services provider, today announces the appointment of Martim Avillez Oliveira as Chief Commercial Officer, EMEA and APAC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005546/en/ eShopWorld appoints Martim Avillez Oliveira as Chief Commercial Officer - EMEA and APAC (Photo: Business Wire) Oliveira is a former Executive Vice President at global supply chain and logistics specialist, Li & Fung, has 15 years of industry experience in retail and global sourcing, having worked with the world’s leading fashion brands and retailers, including Inditex, Marks & Spencer, J.Crew and Galeria Karstadt Kaufhof, managing end-to-end supply chains. In his new role, Oliveira will drive forward ESW’s strategic growth and development with a focus on crafting routes to market within and between the EMEA and APAC that enable retailers and brands to meet the huge latent dem
EpiEndo Pharmaceuticals Announces Launch of First-in-Human Clinical Trial of a Non-Antibiotic Macrolide for the Treatment of Chronic Inflammatory Airway Diseases13.4.2021 08:00:00 CEST | Press release
EpiEndo Pharmaceuticals (www.epiendo.com), a clinical-stage biopharmaceutical company developing novel non-antibiotic macrolide therapeutics for the treatment of inflammatory disorders, announced today that the first subjects have been dosed in the Company's first-in-human phase I clinical trial of its lead candidate, EP395, at the Medicines Evaluation Unit (MEU) in Manchester, UK (clinicaltrials.gov identification number NCT04819854). The trial is led by Professor Dave Singh, Professor of Respiratory Pharmacology at the University of Manchester and Medical Director at MEU. “I am delighted to say that our single ascending dose study has started and that the first six healthy subjects have been given a dose of EP395,” commented Dr. Ginny Norris, EpiEndo’s Chief Medical Officer. “The study will now continue with further single dosing and, later, multiple dosing. Dosing of our first subjects with EP395 is an important milestone for EpiEndo, as it brings us one step closer to offering a po
BIOCORP and ROCHE DIABETES CARE FRANCE Launch Mallya, an Innovative Medical Device to Better the Daily Life of Patients With Diabetes13.4.2021 08:00:00 CEST | Press release
Regulatory News: BIOCORP (Paris:ALCOR) (FR0012788065 – ALCOR / Eligible PEA PME) , a French company specialized in the design, development and manufacturing of innovative medical devices, and Roche Diabetes Care France, a reference company in the support of patients with diabetes, announce the launch in France of Mallya, a medical device available in pharmacies. Developed by BIOCORP, this smart insulin pen device collects and transfers insulin data with near 100% accuracy2. Rechargeable via its USB port, Mallya is compatible with most disposable insulin pens1. This innovation aims to simplify the daily life of patients with diabetes undergoing insulin therapy, and could help avoid errors or oversights. Healthcare companies BIOCORP and Roche Diabetes Care France are finalizing their collaboration - announced last June - with the distribution of Mallya smart devices for insulin injection pens since the beginning of April. Manufactured in Clermont-Ferrand (France), this innovation for pat
Kyoto Semiconductor Signs Supply and Reseller Agreement With CEL13.4.2021 03:00:00 CEST | Press release
Kyoto Semiconductor Co., Ltd., a leading optical device solution manufacturer with world-class technologies and Japanese quality, has announced that it has entered into an agreement with California Eastern Laboratories (CEL) to be a multinational reseller of Kyoto Semiconductor’s optical device solutions. The partnership extends Kyoto Semiconductor’s sales and support network not only to North America but to countries such as India and Israel while it enhances CEL’s product offering with Kyoto Semiconductor’s high-quality photodiodes for optical communication and sensing equipment “Kyoto Semiconductor is pleased to collaborate with CEL, one of the best suppliers of compound and silicon semiconductors, known for its superior customer support and technological expertise. With this partnership, we extend our customer reach worldwide, ranging from North America to India or Israel”, said Tsuneo Takahashi, CEO at Kyoto Semiconductor. “Our products are critical for the 5G and beyond-5G wirele
Bentley Systems Brings Infrastructure Digital Twins to NVIDIA Omniverse12.4.2021 19:00:00 CEST | Press release
GTC21 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that it is developing applications using the NVIDIA Omniverse platform for photorealistic, real-time visualization and simulation of digital twins of massive-scale industrial and civil infrastructure projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005214/en/ Image courtesy of Houston Waterworks Team (a Joint Venture of Jacobs Engineering Group, Inc. and CDM Constructors, Inc.) Bentley Systems has extended the Bentley iTwin platform to integrate with NVIDIA Omniverse to provide a graphics pipeline for AI-enhanced, real-time visualization, and simulation of infrastructure digital twins. This integration allows engineering-grade, millimeter-accurate digital content to be visualized with photorealistic lighting and environmental effects on multiple devices including web browsers, workstations, tabl
QCT Unveils Optimized Accelerated Server to Boost High-Performance Workloads12.4.2021 19:00:00 CEST | Press release
Quanta Cloud Technology (QCT), a global data center solution provider, today announced a new addition to its broad portfolio of NVIDIA-Certified SystemsTM with its QuantaGrid D43N-3U. This server complements QCT’s existing high-performance QuantaGrid and QuantaPlex family of servers, while enabling customers the ability to leverage the latest next-generation NVIDIA Tensor Core GPUs for advanced AI workloads, including those that run on virtualized infrastructure with the NVIDIA AI Enterprise software suite. NVIDIA Tensor Core GPUs on QCT systems are built on the rich ecosystem of AI frameworks from the NVIDIA NGC catalog, CUDA-X libraries, over 2.3 million developers, and over 1,800 GPU-optimized applications to help enterprises solve the most critical challenges in their business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005024/en/ QuantaGrid_D43N-3U (Photo: Business Wire) “Utilizing NVIDIA accelerated computing
Mavenir Launches 5G Hyperconverged Edge AI Solution for Enterprise & Telco Market Based on NVIDIA Platforms12.4.2021 19:00:00 CEST | Press release
Mavenir, the industry’s only end-to-end cloud-native Network Software Provider and a leader in accelerating software network transformation for communications service providers (CSPs), announced today the launch of an AI-on-5G Hyper Converged Edge solution working in close collaboration with NVIDIA. Mavenir has developed this unique solution, based on NVIDIA’s hardware and software technologies, enabling Enterprises & Telcos to implement AI-on-5G applications for many promising verticals such as Manufacturing, Mining, and Healthcare that cover Industry 4.0 applications, including Industrial Internet of Things (IIoT), Intelligent Video Analytics (IVA) and Extended Reality (XR) and Gaming use cases. The use cases can be around remote and immersive collaboration, precision robotics control, people safety, intrusion detection, smart connected factories, real-time manufacturing component defect detection and proactive maintenance using near real-time analytics of sensor data. 5G enables an
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