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How financial service providers increase competitive advantage through travel sales

March 19, 2024
By Andrew Sheivachman
Categories Innovation

For financial service providers, a travel offering provides additional benefits to customers that help you attract more customers, maximize share of wallet, and increase loyalty. This is why JP Morgan Chase acquired Frosch, and U.S. Bank acquired TravelBank.

Whether you are interested in upgrading your existing travel offering or launching one for the first time, here are three essential capabilities to look for when it comes to selecting the right partner.

The best customer experience

Leisure and corporate travel bookings and rewards increase engagement with your digital properties. 

You can also capture additional high value travel and lifestyle spend on your credit and debit cards by offering a high-quality travel rewards and redemption experience. 

With Spotnana, it’s easy for your customers to buy travel through a combination of points and credit cards, or with a credit card alone. We support the unique benefits you offer to cardholders and help you increase customer loyalty and engagement.

Spotnana achieves an average of 96% self-service online booking rates with industry-leading features for managing trip changes, cancellations, unused ticket credits, loyalty rewards, and more. Powerful self-service capabilities keep your customers engaged with travel shopping through your digital properties and provide a delightful customer experience that reflects positively on your brand.

When travelers need or want to speak with an agent, Spotnana enables seamless, personalized service anywhere in the world with fast issue resolution times, because our agents use the same underlying platform as the travelers they serve. Spotnana offers turnkey servicing through our agents, and we can train your agents to use our platform, which includes valuable automations for increasing agent efficiency.

The best global content

Your customers have a wide array of retailers they can buy travel from – direct from suppliers, online travel agencies (OTAs), competing portals from other financial service providers, and more.

Offering the widest array of available travel options, at the best prices, helps ensure they choose your travel portal. Spotnana provides comprehensive global content to your travelers from the widest array of sources including:

  • Deep direct NDC connections with the world’s largest airlines including American Airlines, United Airlines, and Lufthansa Group airlines.
  • Direct connections with carriers including Southwest Airlines.
  • Low-cost carrier content via Travelfusion.
  • Hotel content sourced from Sabre, Expedia, and
  • North American, UK, and European rail carriers.

Major airlines have become increasingly aggressive with strategies to drive adoption of NDC. For example, American Airlines and United Airlines have made as much as 40% of their travel content available exclusively via NDC and lowered prices for NDC fares. Other airlines have added surcharges to other forms of booking. Spotnana’s best-in-class NDC integrations ensure your travelers have access to the best travel options, competitive prices, and the best traveler experiences.

Seamless integration and rapid innovation

Many financial services providers operate their travel portals on outdated tech stacks. This approach can lead to high technology costs, the need for manual labor to resolve issues, and a disjointed experience for travelers booking across desktop, mobile, and agent channels.

Spotnana offers a future-proof travel offering, built entirely on new, modern cloud-based infrastructure that supports an unprecedented pace of innovation via microservices and open APIs.

Our next-generation Travel-as-a-Service platform can be embedded in your web portal and mobile app, white labeled to match your branding, and deeply integrated with your systems for payments, loyalty rewards, analytics, and more. It’s up to you how your product looks and functions for travelers.

Spotnana provides the easiest way to sell travel. We can help you reduce market risk, eliminate development costs, and delight your customers. Even better, we can help you get started with travel sales in less than 90 days.

The guide to selling travel

Want to learn more about how your company can revamp its travel portal quickly with Spotnana? Read the guide to selling travel or get a demo today.