The news: Bank of America launched the Bank of America Travel Center, a travel platform for its customers to plan, book, and manage travel, per a press release.
The Travel Center will include more than half a million worldwide properties, 170 airline partners, 170 car rental companies, and 400,000 activities. Rocket Travel by Agoda powers the platform that will live within the Bank of America mobile app and online banking site.
How we got here: Major issuers have relaunched or revamped their travel platform in an effort to seize more travel spend from their users.
Why this matters: For issuers trying to make the redemption of travel points and other travel booking as frictionless as possible, apps reduce the number of clicks needed to confirm a purchase. By 2030, almost half (47.6%) of all digital travel sales will happen on mobile, per our forecast. For issuers chasing millennial and Gen Z travel spend, mobile shopping features are even more essential.
Implications for issuers: Payment players that are also travel providers will have to make sure their app’s utility isn’t surpassed by AI platforms for researching and booking travel. Integrating AI features within travel apps or embedding within major large language models (LLMs) can help players give their users AI access to streamline their travel discovery and booking experiences.
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