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    MTRX   CA54351R1029

LOOP INSIGHTS INC

(MTRX)
End-of-day quote Bourse de Toronto  -  2022-12-04
0.2900 CAD   -3.33%
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Fobi Announces Passcreator Digital Membership Card Deal with Scotch and Soda, a Leading Global Fashion Brand

09/29/2022 | 09:53am EST

VANCOUVER - Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the 'Company' or 'FOBI'), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, are pleased to announce a new Passcreator by Fobi digital membership card deal with Scotch & Soda, one of the largest global fashion brands.

Scotch & Soda will distribute Passcreator by Fobi Wallet passes to all customers, who sign up for the 'Club Soda' Membership Programme. The members will then be able to show the pass at their retail locations where the QR code on the pass will be scanned. Scotch & Soda will collect the POS data, which will be synched to their Salesforce CRM system and the transaction data can then be attributed directly to the customer. Fobi will generate revenue from this deal through an initial onboarding, training and setup fee and monthly per pass license fees.

FOBI SOLUTION TO PROVIDE COMPLETE CUSTOMER DIGITAL MEMBERSHIP SOLUTION WITH SALESFORCE CRM INTEGRATION

Scotch & Soda chose Passcreator by Fobi over other solutions due to the ease of use of the platform, and Passcreator's ability to integrate with their current systems. In particular, Scotch & Soda centralize all their customer data in their Salesforce CRM system, so any new customer-facing systems that they implement must connect to their Salesforce system. In this case, the customers show their Wallet Pass which contains their customer number as a QR-Code at the Scotch & Soda store. Scotch & Soda scans the QR code with their POS system and all the data is sent back to their Salesforce system. In Salesforce they can now see all the transactional data for that customer, can build segments based upon that data and can then send out personalized and targeted messaging through the Wallet pass to their users to encourage them to buy more. They can also reach out via the Wallet pass to customers who have not purchased recently and send them notifications encouraging them to buy again. With the Passcreator by Fobi Wallet Passes, Scotch & Soda will be able to utilize geofencing to display notifications to their customers when they are near a Scotch & Soda retail store encouraging them to come in and buy the latest clothing line that just launched. The Passcreator by Fobi Wallet pass platform is an incredibly easy and efficient tool for Scotch & Soda to issue digital member cards and better understand the purchasing patterns of their customers and then be able to act on that data to deliver more personalized and targeted messaging to their customers that encourages them to spend more.

Claire Boots, Global CRM Manager of Scotch & Soda stated, 'Our partnership with Passcreator by Fobi has allowed us to look beyond just distributing membership passes through a digital wallet solution. We have been able to integrate their tool easily within our ecosystem, allowing us to monitor, serve, retrieve and update individual member wallet passes. On top of that, their solution opened up a new communication channel, allowing us to interact with wallet pass holders personally and locally through push notifications via the wallet application. Given that the majority of our wallet pass holders will be store customers, as they can unlock their membership benefits by scanning their member pass, being able to connect with them via this new channel provides us a lot of new opportunities which we are very excited about.'

DIGITAL CUSTOMER MEMBERSHIP PROGRAMS GROWING RAPIDLY

The adoption of Apple and Google Pay mobile wallet pass utilization is also increasing rapidly thanks to behaviour accelerated by the pandemic. According to a recent report by Juniper Research, the number of people using digital wallets is expected to reach 4.4 billion by 2025, rising from 2.6 billion in 2020, with QR codes accounting for 40% of all digital wallet transactions. The desired goal of all the players in this industry is obviously one tap or scan payment and rewards for customers.

Rob Anson, CEO of Fobi stated, 'For Scotch & Soda we are bringing them a new way to collect and leverage customer data that enables them to engage and provide value to their customers through Wallet passes. Our Wallet pass based digital membership card solution enables them to activate their customer data and execute much more segmented and personalized communications right to the lock screen on their customer's phones, which is game-changing for their digital marketing team.'

About Scotch & Soda

Born in Amsterdam in 1985, Scotch & Soda celebrates the free spirit of its birth city. Endlessly optimistic, the brand champions individuality, authenticity and the power of self-expression to create the unique - an attitude reflected in its collections, which include men, women, kids, denim, eyewear, fragrances and accessories, occupying a unique space in today's global fashion landscape.

Collections can be found globally in 270 freestanding stores across Europe, North America, Asia, the Middle East, Africa and Australia, as well as in 7,000 doors in some of the world's biggest cities, including New York, London and Paris. The brand's online operations also ship to over 70 countries.

About Fobi

Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

Contact:

Rob Anson

Tel: 1-877-754-5336

Email: ir@fobi.ai

Web: www.fobi.ai

Forward-Looking Statements

This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company 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 plans, operations, and 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, the Company 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 the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
LOOP INSIGHTS INC -3.33% 0.29 End-of-day quote.-79.14%
SALESFORCE.COM, INC. -0.83% 132.885 Delayed Quote.-47.30%
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Financials
Sales 2022 2,04 M 1,49 M 1,49 M
Net income 2022 -19,4 M -14,2 M -14,2 M
Net cash 2022 1,15 M 0,85 M 0,85 M
P/E ratio 2022 -2,93x
Yield 2022 -
Capitalization 44,6 M 32,7 M 32,7 M
EV / Sales 2021 1 188x
EV / Sales 2022 28,8x
Nbr of Employees -
Free-Float 78,4%
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Managers and Directors
Robert D. Anson President & Chief Executive Officer
Annie Chan Chief Financial Officer
Jon Haydock Chief Technology Officer
Gavin Lee Chief Operating Officer
Peter Green Independent Director
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