Texas Capital forms digital bank featuring American Airlines rewards
Texas Capital Bancshares in Dallas has created a digital bank that targets frequent fliers.
The $32.5 billion-asset company said in a press release Monday that Bask Bank has an arrangement with American Airlines that will allow customers of the newly formed digital bank to earn air miles.
"The digital nature of Bask Bank will bridge the gap between physical and virtual banking to deliver a premier user experience beyond mere transactions by giving savers memorable and tangible benefits for their deposits," Keith Cargill, Texas Capital's president and CEO, said in the release.
At Bask, every dollar saved will count as an AAdvantage mile earned. The bank will offer other ways to earn bonus miles, including an account-opening bonus of 5,000 miles.
Texas Capital also announced that it has hired Matt Quale to be the digital bank's president. Quale previously was chief marketing officer at Brighthouse Financial. He has also worked at American Express, McKinsey & Co., Coca-Cola and General Mills.
Texas Capital and the $15 billion-asset Independent Bank Group in McKinney, Texas, in December announced they had agreed to merge.