Capgemini and ascribe Join Forces to Bring Blockchain to Loyalty and Rewards Systems for Financial Services Clients

| News alert
Berlin, Paris - Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, today announced an alliance with ascribe GmbH to develop a blockchain database solution built on BigchainDB[1], 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 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.

"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."

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 Capgemini

With more than 180,000 people in over 40 countries, Capgemini is one of the world's foremost providers of consulting, technology and outsourcing services. The Group reported 2015 global revenues of EUR 11.9 billion. Together with its clients, Capgemini creates and delivers business, technology and digital solutions that fit their needs, enabling them to achieve innovation and competitiveness. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business Experience™, and draws on Rightshore®, its worldwide delivery model.

 

Serving two-thirds of the world’s largest financial services institutions, Capgemini Financial Services helps banks, capital markets firms, and insurers meet today’s industry disruptions with innovative business and IT solutions which create tangible value. A team of 31,000 financial services professionals around the world collaborates across geographies, domains, and technologies to deliver the best tailored solutions to its clients. Capgemini Financial Services brings award-winning industry expertise, leading market insights and over 25 years of global delivery excellence to client engagements.

Learn more about us at www.capgemini.com/banking

 

About ascribe

Founded in 2014, ascribe is a service for creators to register and track intellectual property. By registering work with ascribe, a unique, cryptographic ID is generated and then stored on the blockchain, creating a permanent and unbreakable link between the creator and their work. Creators lock in authorship, can create limited digital editions, securely share and trace where work spreads online. ascribe has been featured in dozens of publications and to date over 5,000 creators have declared 10,000 works and over 35,000 unique editions within the system.

www.ascribe.io