How Mindtree revolutionized loyalty platforms and merchant onboarding with Hyperledger Fabric
Customer Company Size
Large Corporate
Country
- Worldwide
Product
- $wap
- Merchant Onboarding Platform
- Hyperledger Fabric
Tech Stack
- Blockchain
- Artificial Intelligence
- Robotic Process Automation
- Ionic Framework
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
- Digital Expertise
Technology Category
- Application Infrastructure & Middleware - Blockchain
- Analytics & Modeling - Robotic Process Automation (RPA)
Applicable Industries
- Retail
Applicable Functions
- Sales & Marketing
- Business Operation
Use Cases
- Track & Trace of Assets
- Fraud Detection
- Regulatory Compliance Monitoring
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Mindtree is a global technology consulting and services company that helps Global 2000 corporations achieve a competitive advantage by marrying scale with agility. Founded in 1999, the company operates across 17 countries and serves more than 340 enterprise clients. Mindtree's deep domain knowledge enables it to break down silos, make sense of digital complexity, and bring new initiatives to market faster. The company is consistently regarded as one of the best places to work, thanks to its winning culture made up of 20,000 entrepreneurial, collaborative, and dedicated 'Mindtree Minds'.
The Challenge
Mindtree, a technology consulting and services company, identified two major challenges in the retail and banking sectors. In the retail sector, the decreasing rate of redemption in loyalty programs was a significant issue. Nearly $100 billion worth of points remain unused annually, which translates to missed opportunities to engage consumers and a balance sheet liability when compared to the cost of marketing and maintaining the program. In the banking sector, the merchant onboarding process was tedious and time-consuming, taking more than 20 days. The process involved high risks, sizable investment in external agencies for third-party verifications, and lacked a standardized system to ensure vendors comply with regulations such as anti-money laundering, Know Your Customer, and Know Your Customer’s Customer.
The Solution
To address these challenges, Mindtree developed two solutions. The first is $wap, a blockchain-based loyalty exchange platform that allows customers to redeem reward points across providers for goods and services. The platform was built using the Ionic framework and deployed Hyperledger Fabric technology. It provides an easy onboarding process into the network, real-time reflections of the earn and burn for loyalty points, and contract-driven points of exchange. The second solution is a merchant onboarding platform that uses artificial intelligence, robotic process automation, and blockchain technology to streamline the onboarding process. The platform brings together all stakeholders in the onboarding process, allowing them to share documents and data in a protected, private environment. It also includes underwriting and KYC as well as all contracts built into the platform.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Improving Production Line Efficiency with Ethernet Micro RTU Controller
Moxa was asked to provide a connectivity solution for one of the world's leading cosmetics companies. This multinational corporation, with retail presence in 130 countries, 23 global braches, and over 66,000 employees, sought to improve the efficiency of their production process by migrating from manual monitoring to an automatic productivity monitoring system. The production line was being monitored by ABB Real-TPI, a factory information system that offers data collection and analysis to improve plant efficiency. Due to software limitations, the customer needed an OPC server and a corresponding I/O solution to collect data from additional sensor devices for the Real-TPI system. The goal is to enable the factory information system to more thoroughly collect data from every corner of the production line. This will improve its ability to measure Overall Equipment Effectiveness (OEE) and translate into increased production efficiencies. System Requirements • Instant status updates while still consuming minimal bandwidth to relieve strain on limited factory networks • Interoperable with ABB Real-TPI • Small form factor appropriate for deployment where space is scarce • Remote software management and configuration to simplify operations
Case Study
Digital Retail Security Solutions
Sennco wanted to help its retail customers increase sales and profits by developing an innovative alarm system as opposed to conventional connected alarms that are permanently tethered to display products. These traditional security systems were cumbersome and intrusive to the customer shopping experience. Additionally, they provided no useful data or analytics.
Case Study
How Sirqul’s IoT Platform is Crafting Carrefour’s New In-Store Experiences
Carrefour Taiwan’s goal is to be completely digital by end of 2018. Out-dated manual methods for analysis and assumptions limited Carrefour’s ability to change the customer experience and were void of real-time decision-making capabilities. Rather than relying solely on sales data, assumptions, and disparate systems, Carrefour Taiwan’s CEO led an initiative to find a connected IoT solution that could give the team the ability to make real-time changes and more informed decisions. Prior to implementing, Carrefour struggled to address their conversion rates and did not have the proper insights into the customer decision-making process nor how to make an immediate impact without losing customer confidence.
Case Study
Ensures Cold Milk in Your Supermarket
As of 2014, AK-Centralen has over 1,500 Danish supermarkets equipped, and utilizes 16 operators, and is open 24 hours a day, 365 days a year. AK-Centralen needed the ability to monitor the cooling alarms from around the country, 24 hours a day, 365 days a year. Each and every time the door to a milk cooler or a freezer does not close properly, an alarm goes off on a computer screen in a control building in southwestern Odense. This type of alarm will go off approximately 140,000 times per year, equating to roughly 400 alarms in a 24-hour period. Should an alarm go off, then there is only a limited amount of time to act before dairy products or frozen pizza must be disposed of, and this type of waste can quickly start to cost a supermarket a great deal of money.
Case Study
Supermarket Energy Savings
The client had previously deployed a one-meter-per-store monitoring program. Given the manner in which energy consumption changes with external temperature, hour of the day, day of week and month of year, a single meter solution lacked the ability to detect the difference between a true problem and a changing store environment. Most importantly, a single meter solution could never identify root cause of energy consumption changes. This approach never reduced the number of truck-rolls or man-hours required to find and resolve issues.
