COVID-19 has created the perfect storm of relevancy for Loop Insights Inc. (TSXV:MTRX), says CEO Rob Anson
SmallCapPower | June 16, 2020: COVID-19 has opened eyes to gaps in many industries—but one thing that spans verticals is the need for contactless technologies. Loop Insights Inc. (TSXV:MTRX) — a Canadian company that provides transformative artificial intelligence (AI) solutions—comes equipped with a scalable contactless solution stack that positions them well in an economy hobbled by this pandemic.
“COVID-19 has created the perfect storm of relevancy for Loop. While other businesses were at a standstill, our team worked hard to develop a turnkey retail solution that is reliable and ready for implementation,” CEO Rob Anson told SmallCapPower recently.
The Company’s recent appointment into Amazon Web Services’ (AWS) Partner Network (APN) attests to that—with Amazon’s endorsement, future clients can feel confident adopting Loop’s products. Sometimes, it does sound too good to be true. In a short clip released by Loop, Mr. Anson shares the secret to the Company’s unique capabilities:
With Fobi [the Company’s proprietary IoT device], “we have the ability to connect those physical and digital assets—online and offline attribution, online and offline experiences, [they] simply do not exist today…the success of Loop long term is our ability to tie it all together, to be the glue.”
It sounds like Fobi’s connectivity is the powerhouse behind Loop’s products—and its ability to plug into contactless technologies is a game changer in the current retail landscape. In the past few months, the Company has released several contactless innovations, including an ID verification device, a digital receipting service and most recently, a contact tracing platform. Leveraging wallet pass technology supported by Apple Pay and Google Wallet, and NFC (Near Field Communication) or “tap” capabilities, the applications of Loop’s products are endless in this “new normal.”
The motivation behind its newest service launch, automated contact tracing, is a response to mandate efforts actioned by the government to ensure the safe reopening of restaurants and bars. The current process typically involves manual documentation by staff and improper storage. The security issues associated with this system will likely surface very soon and Loop plans on filling this gap with an automated, secure platform—now backed by Amazon. AWS is known for upholding exceptionally high standards for privacy and security, and all prospective members of the APN undergo a thorough architectural and technical review before acceptance. This universal credibility will be important for the Company’s plans for global scalability and adoption.
Although Loop Insights’ latest developments focus on security and safety, what first put Loop on our radar is its ability to unlock new-line revenue for brick and mortar businesses. Coming out of the pandemic, owners and operators’ main priority will simply be making money to recover lost assets. Loop’s third-party programmatic advertising, and data exchange, are two ways that Loop clients can build revenue. Retailers allow brands to advertise products directly to their in-store customers, and Loop provides that crucial redemption data that brands want.
Mr. Anson explains, “Online, brands can access consumers directly with relevant ads and promotions, and see their return—who clicked it, and did they buy something? We make this happen in brick-and-mortar environments. Big brands want that type of data, and we foster that through our clients.”
Promotions are triggered according to each customer’s preferences, and delivered according to their preferred medium (email, SMS, wallet pass or print), so there is a higher chance that the customer will use the promotion. Both Loop and its clients cash in after each promotion is distributed and redeemed. It’s no doubt that these cutting-edge, revenue-generating solutions will catch retailers’ attention coming out of the pandemic.
As we enter into the latter half of 2020, Loop holds a secure cash-flow position with the recent completion of an oversubscribed financing exceeding $2 million. At the end of March, they also received $100,000 in development funds from Amazon Web Services. The Company seems to be in a position of strength to capitalize on several recently-announced global opportunities, which include large-scale distribution partnerships in Hawaii, Tokyo, Mexico, Latin America, Indonesia and Canada. The speed that this company is moving is profound. If you look away for a second, you might miss something big.
To find out more about Loop Insights, please visit the company’s Investor Hub.
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