VANCOUVER, BC, June 29, 2020 /CNW/ – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”), a provider of transformative artificial intelligence (“AI”) solutions announced it is set to launch its latest product “Loop Cloud”, an Application Programming Interface (“API”) cloud software product.
In addition to delivering all the traditional benefits of Loop’s Fobi hardware device, Loop Cloud bolsters many exciting new features and capabilities such as remote onboarding and monitoring capabilities and scheduled maintenance and service.
Loop CSO David Salisbury: “Brick and mortar retailers struggle to make sense of their data and Loop solves this problem. Not only that, we provide an automated tool that creates actionable strategies for curating a better shopper experience and increasing operational efficiencies.”
The addition of Loop Cloud delivers a high margin revenue-generating power to Loop’s current Software as a Service revenue model. It will also eliminate the friction and challenges faced with traditional hardware implementations, allowing for fast scalability.
Loop CEO Rob Anson stated: “We plan to leverage our latest capabilities to attract best of breed traditional Point of Sale companies such as Vend and Lightspeed, or online-to-offline commerce platforms such as Shopify. As a value-added service, Loop Cloud lays a solid foundation with our channel reseller network. This will greatly streamline our execution goals of global scale.”
The product is releasing strategically alongside Covid-19 government restart plans, to continue to attract large-scale venues and business operators searching for turnkey solutions as they reopen their doors.
Loop’s solution eliminates the risks and liability associated with PPI Data storage. The current process is dependent on manual data collection by the business’ staff, which can lead to inaccurate reporting and compliant resistance from customers. The need and demand for a turnkey tracing solution is incredibly high, and is evident through global interest in Loop’s platform. Loop is in active conversations within Canada, as well as in Australia and New Zealand, to potentially replace various industries’ current ad hoc solutions.
About Loop Insights: is a Vancouver-based technology company that provides transformative artificial intelligence (AI) solutions to level the playing field between brick and mortar retailers and their online competition. Particularly, Loop’s technology aggregates online and on-premise data to enable real-time, data-driven marketing decisions for an enhanced customer experience. To close the consumer loop, the Company provides retailers and brands complete, real-time redemption metrics—something that does not exist in the brick and mortar environment today. Loop’s products integrate with clients’ existing legacy systems, which supports a seamless and convenient digital transformation.
Forward Looking Statements/Information:
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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