Consumers will be able to exchange, consolidate, and redeem loyalty reward points across industries.
OCBC and telco firm Starhub are jointly developing Singapore's first loyalty alliance as part of the two companies joint Singapore-centric ‘We Economy’ initiative.
Set to launch later this year, the Coalition Loyalty Programme will allow consumers to exchange, consolidate, and redeem loyalty reward points and air miles. Programme partners include AirAsia BIG Loyalty, Frasers Property Singapore, Great Eastern, Millenium Hotels and Resorts, and Robinsons Groups.
“The Coalition Loyalty Programme aims to bring on board key players from ten industries – financial services, telecommunications, travel, insurance, retail, hospitality, food and beverage, grocery, petrol and transport,” OCBC said.
Consumers will be able to utilise the cross-industry loyalty platform through online tracking dashboard where they can monitor the expiry dates of their loyalty points and be aware of the available points any time and the rewards to redeem.
With the creation of an online tracking dashboard, consumers will also be able to monitor the expiry dates of the loyalty points and be aware of the available points any time and the rewards to redeem.
“We want to proactively create a community of engaged members, rather a run-of-the-mill loyalty programme,” said OCBC Bank group lifestyle financing head Desmond Tan.
The bank believes that the programme is set to significantly boost the redemption rates because the consolidation will make it easier for consumers to redeem their awards.
Apart from OCBC Bank and StarHub, the five other partners will be integrated into the loyalty platform later this year.
Do you know more about this story? Contact us anonymously through this link.