Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc. announced that it has entered into a one-year agreement to provide its CheckPoint digital venue management and access solution to a large US stock exchange.
The data intelligence company said it is enabling the stock exchange to provide an automated, contactless, and verified point of entry, making it easier and safer for their employees, clients, and visitors to access their venues.
Fobi's services for the stock exchange will launch this quarter. It will earn revenue on the contract through an initial setup fee and ongoing revenue from a per pass license fee.
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By using CheckPoint, the entry process is automated so each visitor can have their ID verified before they visit and check in with the new contactless Fobi 2.0 Smart Tap devices, making it easier, faster, and safer to enter the venue when they get there, the company said.
The system will log who visited and when and will turn off access automatically for those people whose access rights have expired.
"We identified a big gap in regard to the user and operational experience for the venue access and management vertical,” Fobi CEO Rob Anson said in a statement.
“I am extremely grateful to launch our CheckPoint solution with two of the largest global event and venue operators.
“I believe that the Fobi CheckPoint and venue management solution is now extremely well positioned to experience continued success and I am looking forward to continue to raise the bar in regards to setting new standards for user experience and continue to deliver new operational innovation," he concluded.
Contact the author at jon.hopkins@proactiveinvestors.com