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New global data on bank customer behavior shows travel is poised to recover faster than expected

Photo: ©Maksym Yemelyanov/123rf

Ascenda, the technology company that makes banking rewarding, revealed consumer confidence in travel is returning quickly according to leading indicators from its bank solution Transfer Connect, the global exchange for frequent traveler miles and points.

Transfer Connect facilitates the exchange of rewards currencies between financial services brands and a broad set of major airlines, hotel chains, super apps and retailers worldwide. The network enables banks across 40 markets to connect with 50 major merchants and delivers access to real-time points transfers for 1.2 billion consumers worldwide.

The newly published data is the first of its kind ever released in the industry and showcases how rewards currency exchange volume from banks into frequent flyer schemes has compared against airline Revenue Passenger Kilometers (RPKs) over the past 18 months. The analysis provides unique insight into how the multi-billion-dollar bank rewards value chain has been impacted by the pandemic and where travel recovery is heading in coming months.

Source: Tourism International

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