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Message: Fobi AI Signs Multi-Year Agreement Projected at $1.1M CAD with One of Europe’s Largest Membership Organizations

Fobi AI Signs Multi-Year Agreement Projected at $1.1M CAD with One of Europe’s Largest Membership Organizations

posted on Oct 11, 2023 08:00AM

Fobi AI Inc. (TSXV: FOBI) (OTCQB: FOBIF), a renowned pioneer in AI-driven digital transformation, proudly announces a momentous three-year agreement, slated to commence on October 11, 2023. Fobi is poised to collaborate with one of Europe's largest membership organizations, enhancing the lives of millions with its cutting-edge wallet pass technology.

The partnership foresees a substantial boost in Fobi’s revenue, with projections marking an impressive $1.1 million CAD over the contract's duration. Anticipated sources of income encompass onboarding and setup charges, in addition to monthly fees from an estimated 10 million active users per month during the three-year period. Fobi emphasizes that these figures are subject to fluctuations, aligning with the IFRS policies for revenue recognition.

Fobi AI's innovative prowess will revamp the organization's services, delivering seamless digital membership management, personalized communications, and exclusive member benefits. Their signature wallet pass platform, Passcreator, will facilitate effortless creation and distribution of digital membership IDs directly to mobile wallets, streamlining the process and addressing the limitations of traditional plastic cards.

Rob Anson, CEO of Fobi AI, expressed his enthusiasm, stating, "This three-year deal not only highlights the trust and confidence our enterprise clients have in our innovative solutions but also helps solidify Fobi’s position as a leading global wallet provider. We are very honored to work as closely as we are with one of Europe’s largest membership organizations to deliver exceptional digital experiences to their member base."

Fobi AI's commitment to pioneering tech-driven solutions reflects in this impactful partnership, affirming its role as a global industry leader. This venture is set to enhance member satisfaction, loyalty, and engagement. Moreover, it underscores Fobi's expansive growth prospects in the North American market, with collaborations spanning trade unions, public employee organizations, travel memberships, and auto manufacturing sectors.

Read Release: https://investors.fobi.ai/pr/fobi-signs-agreement-with-largest-european-membership-organization

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