JPMorgan, APIs, tavisca, Pune, technology

JPMorgan has acquired Tavisca, a Pune-based technology platform for travel loyalty solutions. The move reflects the bank’s intention to expand beyond the traditional wall of banking services in the aftermath of the pandemic.

“JP Morgan will now be able to leverage Tavisca’s travel loyalty technology platform for its global customers," said Pawan Panjwani, head of Technology, J.P. Morgan India.

However, he did not disclose the cost of acquisition.

The emergence of fintech has provided global financial services firms such as JPMorgan an opportunity to expand beyond traditional banking services and offer new unique experiences directly to consumers. The bank has been focusing on digital technology, which is likely to be a key catalyst for growth globally after the world regains normalcy rising from the COVID debris.

“We believe the post pandemic, travel and tourism landscape will present a huge opportunity with travelers looking for more flexibility, more choice and loyalty,” said Panjwani.

Tavisca’s technology and platform experts are enabling a global loyalty ecosystem and a marketplace like Amazon and Shopify in travel space for the future.

"Acquiring the Tavisca platform is a step towards tapping into the travel business market," he said.

The platform is said to be providing exclusive benefits for travel bookings through JP Morgan’s portal which will be enabled in real time with the newly-acquired partner. Consequently, consumers can use their travel points, rewards & offers, and make additional spends on hotels, airlines etc. as required at one go and with one service provider.

While the platform will allow us to create loyalty and shopping experience for all JPMorgan customers, according to the technology head, it will also create a platform for partners and other clients via

APIs

and plugin integrations leveraging Cloud, data analytics and personalized solutions with mobile first experience.

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