Loop Insights and KABN partner to launch AI driven consumer rewards programs secured by biometrics and blockchain

Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF), a provider of contactless solutions and artificial intelligence to drive automated marketing, said Tuesday that it had inked a partnership agreement with KABN System NA Holding Corp’s (CSE:KABN) fintech subsidiary KABN Systems North America Inc, which specializes in online identity verification. The new partners will create a verified digital check-in system for large venues. As more check-ins are required for contact tracing purposes, KABN NA can enhance Loop's contact tracing check-in solution with its proprietary blockchain technology, said the company. Loop said KABN’s Liquid Avatar program will boost security within Loop's services as customer information will be protected by blockchain technology. Loop said the identity verification enhancement will help it to tap “large opportunities” with schools, stadiums, and governments that are reopening and need “fast and secure” contact tracing check-in platforms. READ: Loop inks contract with bdG Sports to deliver contact tracing, automated marketing solutions for NBA, NHL, PGA golf events A combination of Loop and KABN's technologies will also spawn powerful solutions for merchants as KABN NA gives individuals control over what data is visible on sites. To deliver control, KABN has created Liquid Avatar, a platform that allows users to create digital icons representing their online personas. An individual can create different Liquid Avatars to share diverse data with social media sites, or while doing business, e-Commerce and banking. Most significantly, every Liquid Avatar is biometric and blockchain secured. Since Loop already provides merchants with a turnkey marketing solution driven by artificial intelligence, the combined technology will give retailers and e-Commerce businesses more power as they will be transacting with customers who have been biometrically verified with a blockchain-enabled digital wallet. Loop said this will provide merchants with the ability to push, “customized offers, promotions, and other incentives” based on permission-based data to a known customer. “This is extremely valuable in an environment fraught by bots and fake accounts,” said the company. In a statement, Loop Insights CEO Rob Anson said: "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.” He added: “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." The sentiments were echoed by KABN NA CEO Ben Kessler who said he was “very excited” to partner with Loop to create a “more interactive and rewarding experience for consumers.” By combining Loop's AI-powered retail analytics with KABN's Liquid Avatar, KABN KASH, and the KABN Visa card program, the partnership will create new revenue-generating opportunities for Loop. Loop will now be able to offer KABN KASH cashback and rewards and the KABN card to its growing base of retailers. Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive