Impact Analytics Provides H2 Corporate Update
Calgary, Alberta – TheNewswire - October 26, 2023 – Impact Analytics Inc. (“Impact Analytics” or the “Company”) (CSE:PACT), an intelligent risk assessment platform company, is pleased to provide the following corporate update, as well as product development guidance for H2 2023.
Impact Analytics has achieved strong operational continuity resulting in the continued growth of its financial services businesses since listing on the Canadian Securities Exchange (the “CSE”) in 2020. The Company has elected to expand its current financial services business to include accretive tools and product development features starting in Q3 2023.
To complement its ongoing operations in the financial services sector, Impact Analytics plans to develop new business lines including patentable risk management models powered by artificial intelligence (“AI”). Efficient credit assessments are crucial in today's financial systems, affecting everything from micro-loans, insurance premiums, mortgage-backed securities (MBS), manufacturing decisions and credit surveillance.
According to IMARC Group, the global risk analytics market size reached US$30.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 68.8 Billion by 2028, exhibiting a growth rate (CAGR) of 15.2% during 2023-2028. The increasing need for systematic risk evaluation due to the expanding volume and variety of data that requires analysis, increasing adoption of cloud-based solutions, and an enhanced focus on consumer data protection represent some of the factors that are propelling the market.1
"Impact is excited to commence product development, which we feel will re-imagine the micro-finance landscape and assist in improving consumer confidence in an outdated paradigm,” stated Eric Entz, CEO of Impact Analytics. "By targeting the underserved with a novel risk assessment approach, we aim to solve a particular problem in a superior way," continued Mr. Entz.
The Company is currently assessing credible, third-party development groups to accelerate product development and will inform the market of any commercial deals in due course. The Company plans to architect a full stack interoperability approach to risk management designed to eliminate bias and improve efficiencies through continuous learning.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer: Eric Entz
Head Office: 1626 Westmount Road NW, Calgary, Alberta T2N 3M1
Telephone: +1 (604) 851 2662
Website: www.impactrisk.ai
Email: info@impactrisk.ai
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Forward-Looking Information
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