Liquid Avatar Technologies and Optimize Financial Technology Partner to Launch Fintech and Neobanking Solutions for US Markets
Markham, Ontario –News Direct– Liquid Avatar Technologies Inc.
Program to focus on Liquid Avatar brand in the US with customized cards and savings.
Toronto, Canada – TheNewswire – October 28, 2021 – Liquid Avatar Technologies Inc. (CNSX:LQID) (OTC:LQAVF) (FRA:4T51) a global blockchain, digital identity and fintech solutions company announce that it has signed an agreement with California based Optimize Fintech Technology (“OptimizeFT”) to launch a fintech and neobanking solution for the Liquid Avatar Mobile App initially for US markets and consumers. The program is expected to begin rollout sometime in the first two quarters of 2022.
The new Liquid Avatar payment card account will be powered by the OptimizeFT’s Engage360 payment card and digital banking solutions platform. The Engage360 platform contains a robust library of financial technology features and services that enable a wide range of financial solutions including a prepaid card and neobank accounts. Liquid Avatar will be well positioned with its security-conscious user base, to expand beyond its initial US Card offering to launch financial solutions targeting multiple demographics within its consumer base.
The neobank and alternative banking market is experiencing explosive growth. According to KBV Research, the global neobank market is expected to grow from a baseline of $34 billion in 2019 to an expected US$333 billion by 2026. The number one factor for consumers selecting a digital or alternative bank, is security and increased risk. With users having to create their Liquid Avatar Digitally secured ID as the first step to getting an account, Liquid Avatar provides an extremely high level of security to launch and generate significant opportunities from neobank and other alternative financial solutions.
“We are very excited to enter into an agreement with Liquid Avatar Technologies to develop and launch industry-leading payment card and digital bank (neobank) solutions,” said Jim Collas, CEO of OptimizeFT. “The Liquid Avatar mobile app is in a unique position to offer security conscious consumers financial solutions aligned with its Verifiable Credentials Ecosystem, which elevates account security to the next level. In our experience, a perception of enhanced account security can drive account use by consumers, which in-turn generates increased account revenues. We anticipate working with Liquid Avatar Technologies to develop and launch an array of uniquely branded financial solutions that will strongly resonate with their user base.”
According to Allied Market Research, prepaid cards have taken the place of cash, cheques, and other payment cards where consumers or businesses want to use an electronic means of payment, without linking the payment to a credit or debit account. The global prepaid card market size was valued at $1.73 trillion in 2019, and Allied predicts that it is projected to reach $6.87 trillion by 2030, growing at a CAGR of 18.2% from 2021 to 2030. The prepaid card market is expected to exhibit high growth during the forecast period, owing to the convenience offered being similar to that of a credit or debit card with the ability to allow the end user to set the spending limit according to the budget.
Liquid Avatar Technologies has developed the Liquid Avatar Verifiable Credential Ecosystem (LAVCE) and a digital wallet that supports digital credentials for multiple forms of verification. The LAVCE platform has been developed to allow users to leverage their government issued and other digital ID, as they become available to verify who they are at healthcare facilities, testing labs, government agencies, financial institutions, schools, sports arenas, transportation, trade shows, age-restriction programs, and workplaces.
Available to consumers at no cost, the Liquid Avatar Mobile App is available in the Apple App Store and on Google Play and allows users to hold, manage and control digital credentials using the LAVCE. Additionally, Liquid Avatar users can benefit from a wide range of discounts and cash back offers from over 600 brand named merchants across North America.
“We are very excited to have formalized this partnership with OptimizeFT,” said Michael Konikoff, Chief Revenue Officer – Liquid Avatar Technologies. “We believe that the OptimizeFT solution is ideal for our emerging US audience, and we believe that we can jointly provide value to Liquid Avatar Mobile App users and provide them with neobanking, engagement and loyalty solutions as we continue to accelerate our programs.”
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About Optimize Financial Technology – www.optimizeft.com
Optimize Financial Technology (OptimizeFT) is an industry leading payment card and digital bank solutions provider. OptmizeFT develops, launches, and manages private label solutions for clients based on its Engage360 Payment Card and Digital Bank Solutions platform. It has integrated dozens of third-party fintech vendors into its Engage360 platform to create a robust library of features and functions that enable world class payment card and digital bank solutions. OptimizeFT has developed payment card and digital bank programs a multitude of Fortune 500 companies in the last five years. For more information visit www.optimizeft.com.
About Liquid Avatar Technologies Inc. – www.liquidavatartechnologies.com
Liquid Avatar Technologies Inc. focuses on the verification, management and monetization of Self Sovereign Identity, empowering users to control and benefit from the use of their online identity.
The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self Sovereign Identity platform that empowers users to create high quality digital icons representing their online personas. These icons allow users to manage and control their digital identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public and permission based private data when they want and with whom they want.
The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) has been developed with technical assistance from Indicio.tech, a global leader in decentralized digital identity development, and it supports all participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using state-of-the-art blockchain and open standards technologies, initially as a node on the Indicio Network. The Company is a voting and steering committee member of the Trust over IP Foundation, founding and steering committee member of Cardea, a Linux Foundation Public Health project, a member of the Good Health Pass collaborative, DIACC, the Covid Credentials Initiative (“CCI”), The Linux Foundation and a founding member of the Lumedic Exchange. The Company is also a Node Operator for the Indicio Network, a global network for Trusted Data Ecosystems.
The Company has a suite of early-stage revenue generating programs that support the Liquid Avatar Mobile App program, including KABN KASH, a cash back program that has over 600 leading online merchants.
The Company’s subsidiary, Oasis Digital Studios, is a creative and development agency that supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT) solutions.
Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol “LQID” (CSE:LQID).
The Company also trades in the United States, on the OTCQB under the symbol “LQAVF” and in Frankfurt under the symbol “4T51”.
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For more information, please visit www.liquidavatartechnologies.com
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Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”.
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