Travel Bank increases revenue by enticing future bookings and increasing sales conversions. It reduces costs by avoiding credit-card fees for bookings and refunds, as well as improves revenue recognition. The solution also gives airlines the flexibility to offer alternative payment options such as barter and incentive-based marketing. In addition, it increases customer loyalty by storing credits (compensation or residual ticket value) for future travel.
Life of the flight
Travel Bank is beneficial in the area of product and pricing.
A traveler must first have a customer-insight profile created for security validation and identification to obtain a Travel Bank account. The Travel Bank solution can also be used to give a traveler the ability to exchange an ancillary when there is a residual amount (via EMD).
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