Capgemini and Ascribe Alliance Brings Blockchain to Banking Loyalty and Rewards Systems

Consulting, technology and outsourcing services provider, Capgemini has announced an alliance with ascribe GmbH 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.

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