Capgemini and ascribe Team up to Bring Blockchain to Loyalty and Rewards Systems for Financial Services Clients

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Capgemini, has announced an alliance with Berlin startup ascribe to develop a Blockchain database solution built on BigchainDB, for a rewards and loyalty system for consumer banking that tracks processed transactions in real-time. The Blockchain database will enable banks to offer consumers the ability to combine loyalty points from various programs and use them in real-time for redemption.

“The world wants prototypes and use cases for Blockchain technologies,” said Bruce Pon, CEO of BigchainDB, part of ascribe. “Working with Capgemini, we’re going to develop multiple proof-of-concepts that are immediately applicable to the real-world.”

As part of the alliance, Capgemini will bring together its extensive financial services, consulting and digital technology expertise in BigchainDB to design and develop a loyalty and rewards system. The Blockchain database solution will help banks to have flexibility on offering a robust reward system that is cost-efficient, and secure, while providing consumers the ability to use rewards across multiple merchants.

This news follows Capgemini‘s recently announced expansion of its Blockchain practice, to develop innovative digital frameworks and prototypes and build a world-class Blockchain ecosystem. The company is collaborating with some of the world’s leading financial services organizations to help them embrace Blockchain technology. The ascribe alliance enables Capgemini to execute demonstrations for its retail banking clients and deliver on this vision.

“The potential of Blockchain technology to enable a better customer experience is considerable and Capgemini and ascribe are excited to be part of this transformation,” said Sankar Krishnan, Vice President, Financial Services, Capgemini. “For loyalty rewards programs, a Blockchain-based solution could enable a real-time, localized view of data for both merchants and consumers, providing opportunities for new rewards programs for consumers as well as the potential for improved management of assets and resources for merchants.”

To learn more about Capgemini’s Blockchain practice and capabilities, visit www.capgemini.com/Blockchain

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, co-founder and director at education company Blockchain Partners and partner of token design and ICO marketing company CryptoAlchemy.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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