The partnership is aimed at co-creating a loyalty solution for the airline industry as part of the FinTech Abu Dhabi Innovation Challenge (the Innovation Challenge).
The annual Innovation Challenge, an initiative by Abu Dhabi Global Market (ADGM), is held in collaboration with KPMG Lower Gulf Limited (KPMG LG)/KPMG Digital Village to support the development of fintech in Abu Dhabi and the wider MENA region, and serves as a catalyst for collaboration between corporate institutions and fintech startups. Selected startups by KPMG Digital Village are tasked to develop a prototype solution addressing real business issues identified by UAE-based institutions (Corporate Champions).
Modo provides a cloud-based utility for quickly connecting existing payment systems without requiring changes to those systems. Modos technology empowers consumers with omnichannel shopping experiences where loyalty points can be used to checkout at the point-of-sale, online, and via mobile commerce.
Making loyalty point redemption more convenient for consumers, by creating interoperability between loyalty programs and every day commerce, allows for a valuable experience that benefits the consumer, merchant, and loyalty program provider. Modo is working with Etihad to transform the Etihad Guest Miles into a currency which allows seamless and easy payment for multiple products and services.
The product of the collaboration between Modo and Etihad Airways will be presented on September 17th at the FinTech Abu Dhabi Innovation Challenge Demo Day at Fairmont Bab Al Bahr, Abu Dhabi.
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