Innovation Tagline: Loyalty Exchange Acceleration Platform - help the travel programs to leap forward and reap the benefits of loyalty
Project Keywords:
Project Members
- Sunitha C (Sunitha C
- Sanjeeb Patel
Project Description (no more than 1,000 words including graphics)
LEAP – This platform is to provide solution to stakeholders in Travel Industry, be it travelers. airlines, hotels, or any other travel partners a way to enable them reap the benefits of loyalty points that are with the travelers.
LEAP is expected to be a platform that would support
- Consumers(traveler) easy and effective way of redeeming points, and
- Partners (airlines, hotels, agencies) and efficient mechanism to maintain the customer loyalty and make more business through upselling, cross-sell, etc
Problem
Few Problems from the perspective of travelers
- Too many programs and they are not interoperable
- Management of the accounts and the rules on earning loyalty points are not clear
Few Problems from the perspective of partners
- The decreasing rate of redemption in loyalty programs,
- Tedious partner on boarding process,
- Loyalty program reconciliation currently happens periodically, and it may be time consuming
Currently these are the reason the existing solutions are inadequate
- No open-source trustworthy real time reconciliation process.
- No integrated platform that traveler can use to consolidate their travel loyalty points
Solution
The platform has 2 sides of it
- one for the consumer – through mobile / api frontend. Providing them ability to check the loyalty points accrued from various travels and providers. And also being able to redeem them
- one for the partners – be it the loyalty program owners like airlines, hotels, etc or the partners where the points can be redeemed.
This product in blockchain offers decentralized, traceable, immutable and Transparent solution. And doing it in Hyperledger platform provides the enterprise edge to the blockchain solution.
Minimum viable product would provide
Traveler - ability for
- Creation of a traveler digital wallet to hold the points
- Earn Airline NFT – view that in wallet
Partner side - ability for
- Airline
- Register as a partner into the platform
- Create NFT for the loyalty reward
Accomplishment and Team
Sanjeeb and Sunitha – have experience leading engineering team building travel software
The current team of two has the domain knowledge,
We are looking for people who can help build this solution
Project Plan
In the first year, should be able to provide a platform where airline can define their loyalty program in LEAP