KUALA LUMPUR, Oct 2 -- Affinity Capital Exchange (ACE), a fintech innovator in the loyalty finance space pioneering a new class of loyalty points has entered into an agreement with J.P. Morgan.
The two firms will work together to provide issuers of loyalty programmes the ability to augment secured debt financing by deploying a new class of loyalty points, according to a statement.
“Combining ACE’s technology with J.P. Morgan’s global scale creates an unmatched value proposition for clients, providing flexible new products that fit the needs of lenders, investors and operating partners for security in return for fresh liquidity to critical businesses,” said ACE Founder and Chief Executive Officer, Atanas Christov.
Leveraging ACE’s proprietary technology, J.P. Morgan will offer clients a new way of securing and enhancing loyalty financing by using standardised loyalty points, known as Reserve Points.
Based in New York City, ACE has developed the structure behind these points, which allow loyalty programmes to issue points that can be exchanged for any type of point within its programme.
Over time, these standardised loyalty points will also benefit the operating partners in addition to the issuer.
Airlines, hotels, and other loyalty operators will now be able to strategically utilise the value of loyalty programmes to raise capital from lenders, institutional investors and operating partners.
-- BERNAMA
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