i-Synergy Group set to revamp the modern marketplace with its nascent technology
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i-Synergy’s acquisition of Rewalty will create an AI-powered integrated marketplace that will increase the engagement between customers and merchants.
Leading affiliate marketing network platform i-Synergy (ASX:IS3) has begun formulating an integration strategy following its recent proposed acquisition of POSTech, the company behind loyalty program app Rewalty.
IS3 is looking at ways to combine its own affiliate marketing platform VTRAK with Rewalty, with the goal of creating a foundation for one integrated marketplace.
With more than 80% of brands having affiliate programs (according to Affiliate Marketing Statistics), the company says it will focus on building an integrated system that allows merchants and customers to connect with each other based on three main steps.
First, the platform will target customers by combining the sources from both the platforms.
The second step is to ensure a seamless experience in the trade and payment processes for both the customer and merchant who engage with each other.
And finally, the system will be designed to ensure that both merchants and customers are continuously being engaged with each other.
“The unification of service offering leveraging a sound business outlook and nascent technology application will allow us to set the path forward, whilst attending to the current needs in the marketplace,” commented Kevin Coutinho, founder of Rewalty and upcoming i-Synergy CTO.
In January, i-Synergy signed an agreement to acquire Perth-based POSTech, the company behind loyalty program app Rewalty.
Rewalty was built by Coutinho using open-source technology, and allows users to access reward points and use them across its ecosystem of product offerings.
This ecosystem comprises of the Point of Sale (POS) system, online ordering (delivery, table service, and pickup), social media engine, and the loyalty and referral program.
The platform is powered using artificial intelligence (AI) technology, allowing Rewalty users to capture images and promote merchants, whilst getting rewards for their engagement on the App.
These rewards come in the form of loyalty points, which can be used to purchase items from other merchants on the app, virtually creating a closed-loop ecosystem of loyal users.
i-Synergy says the system is secure, and the AI algorithm has the ability to understand which data points to utilise in order to provide the best experience for both customers and merchants.
Coutinho sees a lot of synergy between IS3’s current affiliate offering, and what the Rewalty platform could bring to the table.
He believes IS3 and Rewalty can leverage on each other and sees no point in keeping the reward-based program restrained within the hospitality segment.
With innovation and technology constantly changing, IS3 believes nascent technology and AI features provided by Rewalty could be used to create a needed niche in the Australian market.
“We see a high potential of use cases across multiple industries for the rewards and our loyal customer base programs,” said Coutinho.
“Together, we’re looking at how we can use nascent technologies and move out of the hospitality industry and focus on technologies that will penetrate through industries where it hasn’t been done before,” he said.
i-Synergy’s CEO Dato Lawrence Teo agrees, saying the synergies between IS3 and Rewalty are right there to be leveraged.
“The two businesses will be able to share expertise in the form of management and technology, with the aim of improving i-Synergy’s service offerings to clients across Australia and Southeast Asia, and we will be utilising IS3’s existing affiliate marketing expertise to improve the POSTech platform,” Teo said.
This article was developed in collaboration with i-Synergy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.