SINGAPORE, Feb. 5, 2018 /PRNewswire/ -- Industrial and Commercial Bank of China (ICBC), the world's largest bank by assets and the world's largest public company as per the Forbes Global 2000 ranking, alongside Kaligo Solutions, the global leader in loyalty innovation, have announced a comprehensive partnership to launch a suite of market-leading travel and premium rewards propositions for ICBC credit card customers, a base with over 140 million cards in force worldwide.
Effective immediately, ICBC cardholders can, for the first time, transfer their proprietary loyalty points to a broad selection of over a dozen airline and hotel loyalty programs both globally and domestically.
The new partnership reinforces ICBC's position as China's foremost payment card issuer, and offers unique and innovative ways for customers to redeem their ICBC loyalty points in real-time with greater flexibility and at greater value than ever before. By partnering with Kaligo and investing in their breakthrough technology, ICBC is executing on their mandate to attract and retain the highly sought after premium cardholder portfolio while elevating their global brand presence.
Effective immediately, ICBC cardholders can, for the first time, transfer their proprietary loyalty points to a broad selection of over a dozen airline and hotel loyalty programs both globally and domestically. The loyalty currency exchange platform, mobile app experience, customer servicing and fulfilment and overall program management are all managed under Kaligo's suite of solutions. Additional redemption content, including gift card options, will be released progressively.
"We're delighted to be partnering with ICBC, China's largest financial services player to drive imperative changes in global customer loyalty and engagement," said Kyle Armstrong, CEO Kaligo Solutions. "For affluent customers who travel globally, the value of being able to exchange bank points into frequent flyer miles is unmatched. We're focused on continuing to provide ICBC unique and differentiated product offerings to their broader customer base globally."
TransferConnect is the world's first marketplace dedicated to connecting leading financial services brands with frequent traveller rewards programmes globally. Banks who join the TransferConnect network benefit from the simplicity of a single technical integration and the opportunity to work with dozens of airline and hotel rewards programme partners in a single effective ecosystem.
ICBC was founded on 1 January 1984. On 27 October 2006, ICBC was successfully listed on Shanghai Stock Exchange and Stock Exchange of Hong Kong Limited. Through stable growth and development, ICBC is now one of the largest listed banks in the world, providing comprehensive financial products and services to 5.78 million corporate customers and 530 million personal customers.
About Kaligo Solutions
Kaligo Solutions is operated by Kaligo Pte Ltd., the global leader for innovative travel and loyalty technology. Established in Singapore with offices across APAC, Europe and the Americas, Kaligo Solutions enables 70+ of the world's leading loyalty programs to drive engagement through highly innovative and purpose driven rewards experiences.
With innovative, highly customizable and simple to launch loyalty solutions such as their TransferConnect points transfer marketplace, TravelEdge powered accrual and redemption white labels, as well as end-to-end loyalty program management services, Kaligo Solutions supercharges the world's leading loyalty programs to offer delightful experiences that build lasting customer loyalty.