VANCOUVER, BC, April 14, 2020 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or…
Loop Insights and KABN North America Partner to Launch AI Driven Merchant and Consumer Rewards Programs, Secured by Biometrics and Blockchain
VANCOUVER, British Columbia /…
VANCOUVER, British Columbia / TORONTO, Ontario, Aug 24, 2020 – Loop Insights Inc. (MTRX:TSXV) (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 further information, please contact:
Chief Executive Officer
647-725-7742 Ext. 700
For more information, please contact:
Loop Insights Inc.
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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