VANCOUVER, British Columbia, Oct. 17, 2017 (GLOBE NEWSWIRE) -- RewardStream Solutions Inc., (“RewardStream” or the “Company”), (TSX-V:REW) (Frankfurt:JL4L) (WKN Number A2APX1) a world leader in referral marketing solutions is pleased to provide an update on the growth of their financial services market segment. RewardStream is proud to be the leading provider of referral marketing solutions to this emerging market segment.
Building off of the success of early referral programs with large brands including Envision Financial, the Company is pleased to report that is now working with over 16 different credit unions, with over a third of those companies coming on board in the last quarter. The Company now counts 3 of the largest credit unions in North America as clients. There are over 6,000 credit unions in North America, with over 1,500 in the direct target market for the Company.
“Credit unions have long counted referrals as their number one method of acquiring new customers,” said Rob Goehring, Chief Executive Officer of RewardStream. “Word of mouth and recommendations are extremely powerful factors when someone is seeking new or additional financial services. As more credit unions make the switch to online digital marketing that appeals to a broader and often younger consumer base, we are leading the transition away from their paper based referral programs into a modern, hosted software solution.”
“We are seeing an increase and acceleration in the interest levels amongst our credit union prospects and clients, which is evident through our 30% growth rate in customers over the previous quarter,” stated Buzz Hemphill, Vice President of Sales for RewardStream. “Our platform offers extensive and powerful capabilities for any sized credit union, and we have quickly become the go-to leading solution in the market. We are excited to be engaged in the sales process with well over 100 credit unions to continue to drive growth.”
Credit unions enjoy a 93% satisfaction rating amongst existing members according to a 2015 Consumer Reports article1. As a result, members are generally very happy to refer their credit union to friends and family, but have not had an easy way to do this outside of the branch. The RewardStream referral marketing solution makes it easy for a member to instantly share the credit union with friends or family via a wide range of channels from email and chat to Facebook and Twitter, from their web or mobile device.
The platform includes easy to use tools for credit union marketers to set up and manage their program, run multiple campaigns and manage the branding of the program to their specification. For each referral, the program can be configured with a variety of reward types and amounts, while maintaining strict data security, CASL and CAN-SPAM compliance.
To learn more about RewardStream’s referral marketing platform for credit unions, please visit: https://rewardstream.com/industry/credit-unions/
The Company also announced that it has granted incentive stock options to certain employees to purchase an aggregate of up to 400,000 common shares of RewardStream, exercisable until October 17, 2020, at a price of $0.085 per share, in accordance with its stock option plan.
About RewardStream Solutions Inc.
RewardStream specializes in the execution of automated referral marketing programs that help brands to acquire, engage, and retain their most valuable stakeholders – customers. By utilizing an innovative blend of marketing insight and proprietary technology, RewardStream turns an existing customer base into a powerful new sales channel for all our clients. RewardStream delivers a scalable, real-time technology platform as the foundation of our client's referral program. The platform provides customer acquisition programs that deliver new, highly loyal customers at very low cost per acquisition rates. Our award-winning marketing solutions have powered loyalty and referral marketing programs across 39 countries for brands including Boost Mobile, Envision Financial, W Concept, Koodo Mobile and more. For more information please visit www.rewardstream.com.
For more information contact:
RewardStream Solutions Inc.
Rob Goehring, CEO
Rob.goehring@rewardstream.com
(877) 692-0040
Investor Relations:
Virtus Advisory Group Inc.
rewardstream@virtusadvisory.com
(416) 644-5081
Forward-Looking Information
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts - that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1: http://www.consumerreports.org/banks-credit-unions/choose-the-best-bank-for-you/