Loyyal, an interoperable loyalty and rewards platform powered by a proprietary blockchain, has announced that a successful live pilot has been completed that involved Emirates Skywards – the loyalty program for Emirates airlines.
The pilot was a success providing real-time visibility into partner transactions as well as increased efficiency and reduction of errors as a result of the removal of the reconciliation processes.
Emirates Skywards will be able to use this capability to more efficiently onboard new earn and redemption partners and provide more relevant options for their 25 million global members. Through the common framework and API’s provided by the Loyyal Product Suite, Emirates Skywards is able to onboard new partners with significant savings of both time and cost.
“The pilot was a success, providing real-time visibility into partner transactions as well as increased operational efficiency.”
– Dr. Nejib Ben Khedher – Divisional Senior Vice President, Skywards
The long-term cost savings are even greater, as the ongoing expense of accounting, reconciliation, and settlement between the Emirates Skywards program and their partners is reduced. Through the use of Loyyal’s proprietary implementation of a distributed ledger, the airline and all its new partners share this critical information in near real-time.
“We are proud to have received the go-ahead from Emirates Skywards to finally announce the success of our recent work and the ongoing partnership. Emirates Skywards has shown industry leadership with their desire to innovate and be the first-to-market with this capability. We firmly believe that loyalty programs at large are the “killer app” for blockchain technologies. Throughout the conceptualization phase, the resulting Proof-of-Concept, then Pilot with select members, all the way through to this integration into Production status, we have continued to be inspired by Emirates Skywards and the technology community both in Dubai and within the UAE at large, for their ability to act on vision and be the first major airline rewards program to work with Loyyal. We look forward to leveraging this implementation to empower additional blockchain-derived benefits for Emirates Skywards, with further operational cost-savings, improved customer experiences, and ultimately entirely new ways to reduce the financial liability that large-scale loyalty programs such as Skywards carry”.
– Greg Simon, CEO, and Founder of Loyyal
Revenue from one of the three global airline alliances
The Loyyal team also informed that an airline alliance with more than 500 million passenger count has recently completed contracted engagements with Loyyal. Loyyal received revenue for the ongoing relationship.
Success in the Japanese market
Following on from the significant investments from Unblock Ventures Limited (a subsidiary of LINE messaging app) and multi-billion dollar Japanese firms Recruit Holdings Co. Ltd and Monex Group Inc – Loyyal further announced that it has made significant inroads into the Japanese market. Loyyal has been able to leverage off the networks and brands of its new major investors.
Discussions are currently progressing with LINE in regards to working together with Loyyal beyond just an investment. Loyyal is also currently expecting to run workshops during Q4 2019 for half a dozen major Japanese global corporations.
“Japan is one of the largest markets in the world for loyalty and one that Loyyal is uniquely positioned to be the first mover in. Our pipeline is strong, 2020 will be a breakthrough year for us. In regards to completed customer acquisitions, in the past weeks, Loyyal has signed up three new global Earn and Redemption Partners representing over 1,000 brands that are now accessible to any PO that operates on Loyyal’s network.”
– Greg Simon, CEO and Founder of Loyyal