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Fobi AI Transforms Identification for South African Legal Practitioners

Posted by Aidi Munoz at 8:00 AM on Wednesday, October 4th, 2023

Fobi AI Inc., (FOBI:TSXV) (FOBIF:OTCQB) a leader in AI-driven digital transformation, announces a groundbreaking partnership with South African software agency Techfinity. Together, they’ve brought innovation to the Legal Practice Council (LPC) of South Africa. Fobi’s Passcreator technology has seamlessly replaced traditional plastic identification cards with digital credentials, revolutionizing identity verification for approximately 72,000 LPC practitioners.

This strategic collaboration addresses multiple pain points in the traditional identification process. Previously, applicants faced a lengthy, cumbersome journey that included submitting photographs, proof of identity, and manual payments. The waiting period for a plastic ID could span up to four weeks. Additionally, managing these IDs in real-time, tracking fraud, and updating details posed significant challenges.

With Fobi’s Passcreator, LPC practitioners can now apply for digital IDs via a custom web application. Real-time identity verification ensures rapid ID creation, reducing processing time to minutes. The platform also streamlines secure online payments. Furthermore, LPC gains the ability to void IDs, update pass details, issue real-time notifications, and automate renewals and expiries.

Herman Otto, Managing Director at Techfinity, highlights the project’s success: “Our work with LPC and Fobi has streamlined identity verification for legal practitioners, enhancing efficiency and cost-effectiveness.”

Rob Anson, CEO of Fobi AI, underscores the significance of digital credentials, marking a milestone for Passcreator. He states, “Our strategic partnership with Techfinity has delivered a state-of-the-art digital credential solution that can revolutionize identification systems across various industries.”

The LPC partnership not only showcases Fobi’s capabilities but also sets the stage for broader applications in government, healthcare, and union membership services. This innovative venture exemplifies Fobi’s commitment to digital transformation and secure access solutions.

VIDEO – Following Record Q4 Logiq Reports Over $37M In Revenue For FY2021

Posted by Aidi Munoz at 5:03 PM on Thursday, April 14th, 2022
Logic logo 300x100

Why watch this interview? Here’s 37.3 MILLION Reasons….

The AGORACOM of the e-commerce world.  AGORACOM helps small-mid cap companies win the attention of investors … Logiq helps SMB’s compete against megabrands in e-commerce

The global e-commerce market surpassed $9 TRILLION in 2019 … and is scheduled to grow by a CAGR of 14% into 2027 … But mega brands control almost 70% of the US market alone and are using their strength to win even more market … making it harder for SMBs to compete in this massive market.

Logiq is an award-winning e-commerce and fintech solutions company that is addressing that problem by helping drive e-commerce for SMBs around the world …

Financial Highlights

● FY21 reveneue $37.3 million

● Excluding AppLogiq, Logiq FY21 revenues rose 51.8% to $23 million.

● FY21 gross profit increased 73.8% YOY hitting $11.1 million

● FY21 gross margin percentage increased significantly to 29.6% versus 16.8% 

● Record 4Q-21 revenue exceeds Company’s projection .. 2X YOY to $13.1 million

● Projects 2022 revenue up 30% YOY to $50-$75 million, profitability in early 2023

Late last month Research Capital initiated covered on Logiq Inc with a buy rating and price target of USD $2.20. The firm stated:

A Correction in Digital Marketing Sector Valuations Creates an Attractive Entry Point for Long-term Investors.

Research Capital further states …

We expect Logiq’s revenue to grow by around 36% (CAGR) over the next three years.

We view the current stock price to be undervalued. …  we note that Logiq trades at a significant discount.

Now sit back, relax and watch this powerful interview.