Leading FinTech solution provider TPIsoftware collaborated with a well-known commercial bank, utilizing blockchain to release a cross-organizational reward point platform.
Value of reward points amplified with universal point system platform
TPIsoftware employed blockchain technology to consolidate a complex universal reward point management system across independent organizations, creating an innovative and user-friendly mechanism. The platform integrates different types of reward points into a single system, whether issued by the company and subsidiaries, or by third-party organizations. This allows consumers to use or exchange reward points both online and in person, increasing user participation and loyalty, but also enabling the cross-selling and upselling of reward points.
Transaction records are publicly stored on the blockchain, meaning platform staff is unable to tamper with the data, ensuring total transparency. The platform additionally facilitates user behavior analysis, encouraging enterprises to be more data driven. With proper implementation, companies can adjust business plans to simplify enterprise management processes and reduce costs accordingly.
In just two months, participating organizations have distributed reward points to many users, and third-party partners are growing alongside platform activity. Adding significant value to pre-existing reward points, TPIsoftware guides enterprises to adopt new digital business models.
Blockchain solution enables smooth digital transformation
Many misconceptions surround blockchain technology, often associated with cryptocurrency scams and fraud. However, blockchain is built on encrypted networks characterized by decentralization and traceability, making it an extremely safe place for data to be stored – once data is added to the blockchain and verified, it is almost impossible to tamper with. Blockchain has the potential to provide reliable ecosystems for applications in many industries, especially where ownership of data is commonly transferred.
TPIsoftware employs industry professionals integrating blockchain with AI, IoT and other innovative technologies to develop user-friendly applications. By providing enterprise consultation and technical support, TPIsoftware enables successful enterprise digital transformations while spreading the corporate benefits of blockchain. For future collaboration, TPIsoftware has set its sights on domestic and foreign institutions in finance, life insurance, manufacturing, and governmental organizations.