20th June 2024
Travel loyalty programs continue to evolve. Key aspects such as accrual, redemption, award availability, tiers and benefits, partnerships and promotions have changed tremendously.
An integral part of this change involves new tech capabilities and systems that have played a key role in shaping up all the aspects, explained Pavel Koutsenko, Director Loyalty Solutions, IBS plc at the #MegaEvent2024.
This can be seen today in revenue accounting and APIs for the accrual aspect or facilitating redemption via interfaces with third-party content providers and online marketplaces, he said. A crucial element in the manner in which FFPs have evolved is letting partner businesses offer points accruals and redemptions without the need for system integrations, said Koutsenko, who added that a loyalty platform featuring extensive partner management capabilities and supporting self-service partner portal are a given today. Tech that drives these platforms are configurable, standing out for flexibility and agility. A key pillar is cloud-native architecture.
The role of tech should be visible in terms of being in control of how to reward members across different tiers, making redemption simple, the choice of using miles or cash or both, protecting members against fraud and so on.
Being ready for new developments
Koutsenko added that the work of tech specialists doesn’t end here. “…evolving trends require new thinking and will drive application of new technologies,” he said, referring to what all can be done with artificial intelligence (AI), catering to different generations owing to what they deem as value in these programs, environmental concerns, lifestyle trends etc.
Koutsenko shared that encouraging and supporting sustainability and related behaviour is vital today. In order to support a healthy lifestyle, loyalty programs are continuously finding ways to make every day more rewarding.
By Ritesh Gupta, Ai Events
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