Impact Analytics Provides Corporate Update
June 25, 2024 - Impact Analytics Inc. (“Impact Analytics” or the “Company”) (CSE: PACT), a vertically integrated AI software development company built on its proprietary cloud offering is pleased to provide a corporate update, highlighting recent advancements and strategic developments across its product suite.
Credissential Beta Launch and Auto Dealership Opportunity
Impact Analytics has launched the private beta of Credissential, a secure document storage system designed to modernize customer credit analysis, with the first initial target being the auto lending sector. With features such as encrypted storage and "burn after reading," Credissential aims to streamline the credit application process. The retail facing Credissential website www.credissential.com is expected to launch by June 28, 2024.
Secure DataVault and Virtuozzo Partnership
Through a strategic reseller agreement with Virtuozzo (as previously announced on May 28,2024), Impact Analytics is now offering comprehensive cloud solutions alongside its existing secure data vault (the “SDV”). The SDV, which hosts applications like Credissential, currently has several enterprises using the platform on a trial basis. The Company expects converting majority of these trial users into full subscriptions by the end of the September 2024 quarter.
Lana Cash Development and Market Introduction
The Company has successfully completed the Minimum Viable Product (“MVP”) development of Lana Cash, its AI-driven application for real-time financial risk assessments. Ongoing refinements from testing are paving the way for a non-lending sales version to be available in the Apple App Store and Android App Store by the end of the September 2024 quarter. Following this launch, Impact Analytics will focus on engaging certain warm leads to assist with driving adoption and sales.
Colin Frost, CEO of Impact Analytics, stated, "These developments mark significant milestones in our journey to provide innovative AI-driven solutions to the market. We are excited about the potential of our products and the strategic partnerships we are forming to enhance our service delivery."
Further, the Company announces it has entered into an agreement with Milestone Capital Partners Ltd. dated June 24, 2024 (“Milestone”) to provide marketing services, investor outreach and awareness campaigns to the Company in Europe. The term of the engagement is for a period of twelve months. The Company may terminate this agreement at any time by providing Milestone with fourteen (14) days written notice of termination. Milestone is arm's length to the Company. The Company has paid Milestone an aggregate amount equal to €125,000 on execution of the Agreement, which payment is expected to cover Milestone’s provision of services for a period of twelve months. As of the date hereof, to the Company's knowledge, Milestone, nor any of its directors or officers own any securities of the Company. Milestone can be reached at: Le Millefiori, Apartment 11C, 1 Rue Des Genets, 98000 Monaco, Tel: +41 79 79 800 47, Email: ck@mcp.ltd.
About Impact Analytics
Impact Analytics is a risk assessment, data intelligence and financial services platform powered by AI. The Company is building a proprietary product stack to optimize and streamline financial decision making for enterprises and individuals. Learn more at https://www.impactrisk.ai/.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer Colin Frost
Head Office 2004 Sherwood Drive, Sherwood Park, AB T8A 0Z1
Telephone +1 (587) 208 4044
Email info@impactrisk.ai
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Forward-Looking Information
Certain information in this news release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this news release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release.
Forward-looking statements in this news release include, but are not limited to, statements regarding Credissential, Lana Cash and the SDV’s expected results, potential users of Credissential, Lana Cash and the SDV, commercialization plans for Credissential, Lana Cash and the SDV, future plans for Credissential, Lana Cash and the SDV and the potential users and the future plans of the Company, business plans, objectives and strategy. Forward-looking statements are inherently risky and the information and plans disclosed therein may not come to fruition as contemplated or at all.
Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation’s Management Discussion and Analysis, which can be found on SEDAR+ at www.sedarplus.ca.