LBB wants to exit former prestige project
In recent years, Amazon has won over 1 million customers with its prominently advertised credit card offering. It was considered a major prestige project for Sparksey to be chosen as a partner in the background for his Landesbank Berlin (LBB). As Finance FWD Reported on the basis of internal LBB documents, but indicated a complete rethink in the past few months. The bank aims to establish itself as a “Sustainably Profitable Customer Savings Bank” by 2025.
Amazon Credit Card with LBB Logo: One-off Model
like this he does Now reported, the end of cooperation with Amazon may have finally been a deal. The partners had agreed to let the contract expire on December 31, 2022. However, LBB would later engage in “follow-up work”. According to Finance FWD, this probably means an option for Amazon to enable the required transfer of millions of customer data after this deadline. For customers, one thing is certain: sooner or later they can expect a new credit card without the LBB logo.
Kick-off due to ADAC
In addition to Amazon, LBB recently lost a second, even bigger customer of its credit card business. ADAC did announcedHowever, he did not mention that the company will expand its own card program to 1.3 million users with a new partner in the future. However, the change here will last till 2023.
