Loyyal, the leading blockchain solution for the loyalty and rewards industry,has signed a three-year commercial production vendor agreement with The Emirates Group. Loyyal’s blockchain-enabled loyalty and rewards platform, now in production at Emirates Skywards, brings new transparency, efficiency and cost savings to, the award-winning loyalty programme of Emirates and flydubai with more than 25 million members.
Loyyal’s platform helps loyalty program operators reduce costs associated with accounts reconciliation and payment management. Loyyal also introduces a standardized process for partner onboarding to reduce the time and cost for new loyalty partners. Any program operator leveraging the Loyyal Product Suite is ultimately seeking to improve perception and brand loyalty through an improved offering and greater ease of use of program miles.
Since moving into production, Loyyal’s blockchain-enabled loyalty and rewards platform has yielded several positive results including improved transparency between Emirates Skywards and its partners; enhanced security; reduced instances of fraud; improved traceability and reporting capabilities; and the elimination of redundant reconciliation processes.
“From the earliest conception phase through to production, we have been inspired by Emirates Skywards and the team’s ability to act on vision,” says Greg Simon, CEO of Loyyal. “As the first major airline rewards program to work with Loyyal’s blockchain platform, Emirates will achieve operational cost-savings, improve customer experiences and reduce the financial liability that inherently comes with large-scale loyalty programs.”
Loyyal was one of the blockchain pilots that was launched in the UAE in 2016