The Open Loyalty Platform to Spend €2.3 Million on Fintech Development

Open Loyalty, a European startup created within Divante, a subsidiary of the OEX Group, will allocate €2.3 million on the development of a new fintech technology – a blockchain-based loyalty payment card. This €1.3 million investment will be financed from a grant from the National Center for Research and Development, a prestigious Polish institution that supports most innovative research projects. The remainder of the funds will come from Divante’s own resources.

Open Loyalty is a next-generation loyalty platform based on the API-first and headless approach. Thanks to the modularity of this solution, brands can implement personalized loyalty programmes in any communication channel, using various loyalty creation mechanics and customer gamification. Open Loyalty is already used by companies from various industries operating all around the world, including ALDO, Warba Bank and Prudential.

‘Customer loyalty building and maintaining requires a great deal of effort from any company. To achieve that, they need an attractive and personalized offer, an excellent customer service and a seamless buying process. Therefore, we have decided to combine even more the mobile payment mechanisms with loyalty programmes. We want the loyalty payment card technology to open up for top brands new opportunities to involve customers,’ said Karol Bzik, a co-founder of Open Loyalty

The Open Loyalty system, with its available voucher and cashback campaigns, has always been close to the payment process. Owing to its newly launched research project, the company is taking a strategic step toward fintech-class solutions.

‘We believe that in the near future almost every company will introduce some form of financial services. Mobile payment apps, deferred payments, microloans or in-house cryptocurrencies are all becoming a market standard. The co-funding will accelerate our work on the research and development of loyalty payment card technology, where we will concentrate on blockchains and machine learning. In consequence, Open Loyalty’s customers will obtain a solution that will allow them to introduce their own currency, payment method as well as AI -assisted loyalty programme. As a result, loyalty and payments will enter a whole new level,’ added Cezary Olejarczyk, a co-founder of Open Loyalty

In the nearest future, Open Loyalty will focus on fine-tuning the new technology and launching pilot projects in cooperation with retail sector companies.