VANCOUVER, BC and TORONTO,
Aug 25, 2020 /CNW/ - Loop
Insights Inc. (TSXV: MTRX) (the "Company" or "Loop"), a provider of
contactless solutions and artificial intelligence ("AI") to drive
automated marketing, contact tracing, and contactless solutions to
the brick and mortar space, is pleased to announce an initial
partnership agreement with KABN Systems North America Inc., a
wholly-owned subsidiary of KABN System NA Holding Corp. (CSE: KABN)
("KABN NA" or "KABN North America"), a Canadian Fintech company
that specializes in continuous online identity verification,
management and monetization in Canada and the US.
TOGETHER, THE COMPANIES WILL CREATE A VERIFIED DIGITAL ID
CHECK-IN SYSTEM FOR LARGE SCALE VENUES
As the world goes more digital and more "check-ins" are required
for contact tracing purposes, KABN NA can also enhance Loop's
contact tracing check-in solution with its proprietary blockchain
technology. The global blockchain market size is expected
to grow from USD 3.0 billion
in 2020 to USD 39.7 billion by
2025, at an impressive Compound Annual Growth Rate (CAGR) of
67.3% during 2020–2025 (source:
www.marketsandmarkets.com).
KABN NA's Liquid Avatar program increases the security within
Loop's services. Customer information and identities are protected
by blockchain technology- the highest level of protection. This
identity verification enhancement for Loop comes at a great time.
It accelerates conversations with large scale business development
opportunities, such as schools, stadiums, and governments that are
reopening and seek fast and secure contact tracing check-in
platforms.
COMBINATION OF LOOP AND KABN NA TECHNOLOGIES RESULTS IN
POWERFUL AND COMPLIANT SOLUTION FOR MERCHANTS
KABN NA, in its simplest form, turns the major problem of data
privacy into a profit for individuals by giving them complete
control over what data is visible on sites and platforms throughout
the web.
In order to deliver this level of control, KABN has
created Liquid Avatar, a powerful platform that
allows users to create digital icons representing their online
personas. An individual can create different Liquid Avatars to
share different levels of private data with different facets of
their life, such as social media, professional, business,
e-commerce, and banking.
Every Liquid Avatar is biometric and blockchain
secured.
On the other hand, Loop Insights provides merchants with a
turnkey solution, driven by artificial intelligence. This allows
them to unlock their bricks and mortar data in real-time to make
smarter, faster, data-driven decisions that deliver personalized
promotions and targeted engagement—leading to higher conversions
and transaction revenue in professional sports, entertainment, and
retail industries.
As a result of the partnership that converges the powerful
technologies of both Loop and KABN NA, the tremendous value will be
created for retailers and e-commerce stores due to transacting with
known users who have been biometrically verified identity with a
blockchain-enabled digital wallet.
In turn, this will provide merchants with the ability to push,
customized offers, promotions, and other incentives based on
permission-based data to a known, real person. This is extremely
valuable in an environment fraught by bots and fake accounts.
NEW BUSINESS MODELS AND REVENUE STREAMS FULLY COMPLIANT WITH
GLOBAL DATA PRIVACY LAWS
Moreover, the combination of these powerful standalone
technologies will provide Loop and KABN NA with new business models
that are compliant with jurisdictional privacy laws and
regulations, where the user has management and control over the
data.
KABN NA CEO, Ben
Kessler: "We are very excited to partner with Loop
to create a more interactive and rewarding experience for
consumers. We believe that combining our efforts and solutions
builds both a robust data and identity verification platform as
well as, a personalized, customer-first loyalty solution. We look
forward to leveraging all of these enhanced capabilities to expand
our retail client and brand partner opportunities."
Loop CEO Rob Anson: "The
convergence of Loop's IoT and AI technology with KABN NA's
Blockchain and digital identity platform is compelling and will
lead to many new possible global revenue opportunities. This
exciting partnership unlocks potential new ways for us to monetize
our services, expand our client networks, and further accelerate
our pursuit on a global scale."
PARTNERSHIP UNLOCKS NEW WAYS FOR LOOP TO FURTHER MONETIZE ITS
INSIGHTS AND ENGAGEMENT PLATFORM THROUGH RETAIL CLIENTS AND BRAND
PARTNERS
Under the partnership, Loop will participate in potential
revenue generated from KABN NA's Liquid Avatar program, which
includes a percentage of the sign-ups, commissions, and service
fees that KABN generates from brands, retailers, other businesses,
and affiliates. Loop intends to leverage brand and corporate
interest to gain revenue from its third-party programmatic
advertising platform.
Combining Loop's AI-powered retail analytics and engagement with
KABN's Liquid Avatar digital identity platform, KABN KASH, a
cashback and loyalty engine, and the KABN Visa card program, the
partnership will create new revenue-generating opportunities for
Loop. In addition to Loop's current engagement service offerings,
Loop will now be able to offer KABN KASH (cashback and rewards) and
the KABN Card to its growing base of retailers and in so doing,
expand its monetization efforts, while also growing its base of
users and user-generated data.
This Press Release Is Available On The Loop Insights Verified
Forum On AGORACOM For Shareholder Discussion and
Q&A https://agoracom.com/ir/LoopInsights/forums/discussion
About KABN North America
- www.kabnnaholdco.com
KABN Systems NA Holdings Corp. through its wholly owned
subsidiary KABN Systems North America Inc. focuses on the
verification, management and monetization of digital identity,
empowering users to control and benefit from its use of their
online identity.
KABN propriety technology suite includes 4 key products:
Liquid Avatar allows users to create high quality
digital icons representing their online personas. These icons, in
conjunction with KABN ID, allows users to manage and control their
Digital Identity and to use Liquid Avatars to share public and
permission based private data when they want and with whom they
want. www.liquidavatar.com
KABN ID is an Always On, biometric and
blockchain based digital identity validation and verification
platform allowing users to continuously and confidently prove
themselves throughout the online community.
KABN Card is a Visa approved prepaid card program
allowing users to manage both digital and fiat currencies and earn
cashback and other loyalty incentives. www.kabncard.com
KABN KASH is a cashback, loyalty and engagement
program that powers the KABN revenue ecosystem.
KABN provides its products and services at no cost to consumers
and generates revenues through permission-based partner
programs. www.kabnkash.com
For more information, please
visit www.kabnnaholdco.com or www.kabnsystemsna.com
About Loop Insights: Loop Insights Inc. is a Vancouver-based Internet of Things ("IoT")
technology company that delivers transformative artificial
intelligence ("AI") automated marketing, contact tracing, and
contactless solutions to the brick and mortar space. Its unique IoT
device, Fobi, enables data connectivity across online and
on-premise platforms to provide real-time, detailed insights and
automated, personalized engagement. Its ability to integrate
seamlessly into existing infrastructure, and customize campaigns
according to each vertical, creates a highly scalable solution for
its prospective global clients that span industries. Loop Insights
operates in the telecom, casino gaming, sports and entertainment,
hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
The TSXV and CSE have not reviewed and do not accept
responsibility for the adequacy or accuracy of this
release.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities in the United States.
Forward-Looking Information and Statements
This press
release contains certain "forward-looking information" within the
meaning of applicable Canadian securities legislation and may also
contain statements that may constitute "forward-looking statements"
within the meaning of the safe harbor provisions of the United
States Private Securities Litigation Reform Act of 1995. Such
forward-looking information and forward-looking statements are not
representative of historical facts or information or current
condition, but instead represent only LOOP and KABN NA beliefs
regarding future events, plans or objectives, many of which, by
their nature, are inherently uncertain and outside of LOOP and KABN
NA's control. Generally, such forward-looking information or
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or may contain
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "will continue", "will occur"
or "will be achieved". The forward-looking information and
forward-looking statements contained herein may include, but is not
limited to, information concerning the ability of LOOP and KABN NA
to generate revenues, roll out new programs and to successfully
achieve business objectives, and expectations for other economic,
business, and/or competitive factors.
By identifying such information and statements in this manner,
LOOP and KABN NA are alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements. In addition, in connection with the
forward-looking information and forward-looking statements
contained in this press release, LOOP and KABN NA have made certain
assumptions. Among the key factors that could cause actual results
to differ materially from those projected in the forward-looking
information and statements are the following: changes in general
economic, business and political conditions, including changes in
the financial markets; changes in applicable laws; compliance with
extensive government regulation. Should one or more of these risks,
uncertainties or other factors materialize, or should assumptions
underlying the forward-looking information or statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected.
Although LOOP and KABN NA believe that the assumptions and
factors used in preparing, and the expectations contained in, the
forward-looking information and statements are reasonable, undue
reliance should not be placed on such information and statements,
and no assurance or guarantee can be given that such
forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and LOOP and KABN NA do not undertake to
update any forward-looking information and/or forward-looking
statements that are contained or referenced herein, except in
accordance with applicable securities laws. All subsequent written
and oral forward- looking information and statements attributable
to LOOP and KABN NA or persons acting on its behalf is expressly
qualified in its entirety by this notice.
SOURCE LOOP Insights Inc.