October - 2014 - issue > Startup of the Year - Loyalty & Relationship Management

Loylty Rewardz Mngt: Managing Large Scale Turnkey Loyalty Solutions

Nandini Mukherjee
Friday, November 21, 2014
Nandini Mukherjee
Albeit at a nascent stage, the loyalty programs industry is growing at an exponential rate in India. Last year, the industry saw as much activity in this space as it collectively saw in the previous three years.Early on in his career at Jet Airways' Frequent Flyer Program, Bijaei Jayaraj anticipated the potential in this domain of customer relationship management and set his heart towards becoming a pioneer of change.

Incorporated in 2006, Loylty Rewardz Mngt. today manages large scale end-to-end loyalty solutions for some of the biggest brands in India with a vision of providing technology driven consumer insights to large and small scale businesses through a very innovative platform called Max Get More.

"From successfully convincing Ventureast, a venture capital fund to invest in the startup in 2008 till now, it has been a long and eventful journey. Over these years, we've carefully built the expertise and capability to develop and manage large scale, turnkey loyalty solutions," tells Bijaei Jayaraj, MD & CEO, Loylty Rewardz Mngt.

Building a new organization from the scratch, dealing with huge public sector banks on one hand and big retailers on the other was challenging. Bijaei recounts how different an experience it was to build a business in a market that was practically non-existent in the country. "While we were working hard to build a new organization, we also had to struggle to build a new market and educate our clients about the concept of loyalty programs," he explains.

Currently, Loylty Rewardz works with a number of leading Indian banks such as the State Bank Group, Punjab National Bank and Bank of India along with over 100 large retail organizations. It processes about 1 in every 3 debit card transactions in India, processing around 25 million transactions every month that are worth around Rs.5000 Crores.

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