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JPMorgan Chase To Acquire Stamford-Connecticut-based cxLoyalty Group Holdings

By John F. Heerdink, Jr.

JPMorgan Chase & Co (JPM) is set to acquire the global loyalty division of Stamford-Connecticut-based cxLoyalty Group Holdings Inc, a third-party credit card loyalty program service provider. The inclusion will integrate cxLoyalty’s technology platforms, gift cards, full-service travel agency merchandise, and points bank businesses into its Chase cards program.  The cxLoyalty brand and existing client relationships will continue to be led by cxLoyalty Group CEO Todd Siegel.

“People across the globe want to vacation and travel again, and hopefully that will become a reality for many in the near future,” stated Marianne Lake, head of JPMorgan ’s consumer lending business.

JPMorgan Chase & Co (JPM) is a global financial service leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and commercial banking. To learn more about JPMorgan Chase & Co. (JPM) and to continue to track its progress please visit the Vista Partners JPMorgan Chase & Co. Coverage Page.

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(Read Original Story: JPMorgan to buy third-party loyalty program unit of cxLoyalty in Reuters)


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