VANCOUVER, BC, April 14, 2020 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”)—provider of transformative artificial intelligence solutions to brick and mortar retailers— announced today that it has signed a Memorandum of Understanding (MOU), and intends to enter into a joint venture partnership, with Frontier Technology to access the lucrative Indonesian retail market.
Frontier Technology’s large network of clients opens up doors to several large-scale industries, including healthcare, convenience and retail chains, restaurant and hospitality chains, and smart city projects.
Loop expects several revenue streams from these large-scale possibilities. In this market, Loop’s re-seller distribution model will ensure the company is positioned for fast scalability, while maintaining an agile and low-cost operating structure. Its revenue share business model will also ensure a very strong, consistent revenue flow. With Indonesia’s expanding population of nearly 256 million, Loop anticipates high engagement with the rapidly growing mobile-friendly market; and therefore, a high ARPU (average revenue per user) opportunity.
Frontier Technology CEO Victor Rindanaung said: “Our clients are in search of transformative, cloud-based solutions—Covid-19 has turned this into an immediate need. Loop has demonstrated to us that their products offer our clients a low-cost, high-return solution to future proof their business. Loop’s contactless ID verification platform and wallet pass technology is particularly disruptive, and we are very excited to bring it to the Indonesian market together.”
IDC (International Data Corporation) Indonesia sees 2020 as a major year for ICT spending as digital transformation awareness is increasing. The information technology (IT) spending alone, excluding communication spending, is expected to reach US$11.9 billion in 2020.
Loop Insights CEO Rob Anson commented: “Loop is 100% focused on the execution and deployment of our products on a global scale. We intend to fully support and leverage Frontier Technology’s network of clients to gain instant traction in the Indonesian market—one that is very mobile-driven and hosts a large population of users. This opportunity with Frontier Technology is a major development for Loop and marks the first of many global partnerships to come.”
About Frontier Technology: Frontier Technology, a division of the Frontier Consulting Group, connects clients to innovative technologies to increase sales and achieve growth targets. The Company is experiencing rapid expansion in Indonesia due to its founders’ (Handi Irawan and Fandy Santoso) strong reputations in the industry—and is on its way to becoming the leading provider of digital marketing solutions in Asia.
About Loop Insights: Loop Insights Inc. (TSX.V: MTRX) 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.
Cathy Hume, CEO
T: 416-868-1079 x 231
E: cathy@chfir.com
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