Loyalty 3.0: How first-party data is becoming the new battleground for BFSI growth

By Sanjay Kumar, Chief Technology and Product Officer, Loylty Rewardz

Ananya opens her banking app on a Friday evening. Over the past few days, she has booked an international flight, paid a visa fee on her credit card, checked foreign-exchange rates and browsed hotel options. She still needs accommodation, perhaps travel insurance and airport transport.

Her bank may already know most of this. The problem is that it may not know it as one story.

The flight transaction may sit within the card ecosystem. Her forex activity may be visible to the banking application. Rewards may sit within a loyalty platform, while travel privileges and merchant partnerships may be managed elsewhere.

To each system, Ananya is an account, a cardholder, a transaction or a loyalty member. To Ananya, there is only one objective: she is planning a trip.

That gap between how customers experience their lives and how enterprises organise...

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