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Jack Henry & Associates Inc. this week announced a strategic alliance with Saylent Technologies Inc. enabling financial institutions to use detailed customer-behavior data to develop more-customized rewards programs for all banking products, including credit and debit cards. Monett, Mo.-based Jack Henry & Associates, which serves 8,800 financial institutions with core banking services, has named its latest offering Big Rewards. It harnesses Franklin, Mass.-based Saylent's recently introduced Account360 software product, which helps institutions analyze individual customers' behavior to develop rewards programs that will drive more business. This month Saylent also reintroduced Card360, formerly called Y-Debit, another software program enabling financial institutions to segment debit card customers' behavior programs. Gaining deeper insight into customer behavior should help financial institutions design better rewards programs, Tyson Nargassans, Saylent's president, tells CardLine. "There are a lot of me-too rewards programs out there that blanket everyone with rewards for the same old behavior," he says. "Better data-analysis tools like the ones we offer enable financial institutions to design programs that reward customers for specific activities that drive profits."
