Electric Guitar PLC (AIM:ELEG) said it has created a loyalty app that integrates Open Banking data to enable companies to better understand and engage their customers.
This app was built by the company's 3radical subsidiary in a strategic collaboration with joint venture Marcomms.ai and financial technology specialist Little Birdie.
By incorporating open banking data, the app provides insights into customer spending habits, preferences and financial behaviours, the company said, enabling businesses to create more personalised and loyalty programmes.
The collaboration with Marcomms.ai and Little Birdie also enables the banking data to be incorporated into 3radical's Global Data Store, which is already being deployed by Marcomms.ai to underpin its AI-powered engagement products.
Electric Guitar chief executive John Regan called the app development "a significant milestone" for the company that will enable it to provide clients with "a powerful tool to deliver highly personalised and impactful customer experiences".
He added: "This innovation is just the beginning of a series of initiatives aimed at leveraging data and technology to create next-generation marketing tools which enhance consumer relationships and extend 3radical's product offering, bringing with it significant new revenue opportunities."