SunTrust exec joins the bank's partnering fintech firm
A former head of consumer direct lending at SunTrust has joined the fintech firm Cardlytics Inc. to help it expand its partnerships with banks — the same type of partnership it has with SunTrust.
On Thursday Cardlytics named Shannon Johnson as group president of financial institutions, where she will help the Atlanta-based fintech add more bank partnerships. Cardlytics is a marketing technology company that typically partners with banks to analyze consumer spending data in order to build rewards programs, such as cash-back cards for consumers when they make purchases with certain retailers.
Cardlytics has a partnership with SunTrust that Johnson helped develop while she was the bank's head of consumer deposits and payments last year before moving to the role of senior vice president for consumer direct lending.
Johnson is joining Cardlytics along with an advertising expert, Randall Beard, who was named group president of advertisers.
“At Cardlytics, we only hire forward-thinking people who want to push the boundaries of the status quo, and that’s why we’re thrilled to add Randall and Shannon to our team,” Lynne Laube, Cardlytics’ co-founder and chief operating officer, said in a press release. Their experience “will make them both instrumental players as we continue to help marketers execute more effective campaigns and financial intuitions increase customer loyalty.”
Johnson also previously worked at PNC, where she helped develop a rewards program with Cardlytics, one its first large bank contracts, the company said.
Cardlytics, which closed an initial public offering mid-February, said it has partnerships with more than 2,000 financial institutions.