Boston-based Eastern Bank will participate in a pilot of a new partner program from multi-account card provider Stratos.
The new program is aimed at banks and merchants and is designed to harness Stratos Bluetooth Connected Cards to improve how these issuers acquire and retain customers.
For its bank issuer program, participating banks like Eastern will see their credit and debit cards listed as the so-called “’top of wallet’ experience” for Stratos users that are bank members, the Ann Arbor, Mich.-based company said in a September 17 news release. Banks will also have access to data on card usage and consumer behavior.
The partner program will also extend to merchant and loyalty card issuers. Stratos said that the program would allow retailers to acquire new cardholders via lock-screen notifications. The Stratos program can also deliver in-store mobile promotions and marketing for retailers to consumers based on their location and shopping history.
The partner program builds on previous efforts from Stratos to combat the poor performance overall for connected cards. Earlier this year, the company rolled out a membership program to replace its cards annually.