Mobi724 Global Solutions (TSX-V: MOS) Leverages CENGN Project to Bring AI-Enhanced Fintech Solution to the Next Level!
Mobi724 is a Fintech company that was founded in 2012 and is headquartered in Montreal, Canada. The company has developed a suite of data-driven card-linked offers and rewards solutions that work on any payment card, debit or credit, and at any point of sale, for both online and brick-and-mortar locations. In 2017, the company integrated Business Intelligence and Digital Marketing Platforms into its offering. This unique platform is designed to enable its clients – banks, payment processing networks, and merchants – to generate incremental revenues by leveraging purchase related data insights while delivering a seamless and engaging experience to cardholders. The fast-growing company is set to carry out a Data Centre and Cloud CENGN project to accelerate the commercialization of its AI solution.
Making Extra Cash for Cardholders, Card-Issuers, Payment Processing Networks & Merchants
Present day reward systems and loyalty solutions have a track record of being plagued with inefficiencies, whether it be high costs of logistics for reward delivery, or overly complicated redemption mechanisms for points and offers. This leads to $360 billion US in reward currencies being dormant in customer accounts globally, meaning banks – the main target market of Mobi724 – are missing out on monetizing opportunities, which can become incremental revenue streams from existing payment card portfolios. Meanwhile, nearly 50% of cardholders report willingness to switch payment cards in a search for better customer experience. There is a very real market need for a solution that can remedy the problems crippling the antiquated reward platforms.
This urgency is only growing, considering the accelerating shift to digital payments across the globe. This is highly relevant in specific emerging markets, like Latin America. This is a region where Mobi724 has already established its competitive advantage, leveraging the exponential growth of both online and brick and mortar purchasing.
Mobi724 is here to monetize the opportunity for all parties in the ecosystem! The company’s scalable and flexible platform is designed to allow cardholders to redeem points and cash-back offers seamlessly, in real-time and at any point of sale in a digital and engaging format. In fact, the solution is set up so cardholders simply use their regular payment card, enjoy their purchase, and reap the rewards.
Improving the Way Consumers Redeem Cash-back Offers & Reward Points Linked to Payment cards
Mobi724’s all-in-one solution uses an extensive data analytics engine to allow banks and merchants to engage customers with the most appealing behaviour-driven offers & rewards. Empowered with this knowledge, they can make the customer journey more personalized, frictionless and fun. Additionally, Mobi724 offers card providers a platform and budget control tools that enable the execution of targeted marketing campaigns based on real-time insights and campaign performance. By capturing payment card transactions in real time, and processing card-linked reward transactions at any location, Mobi724 provides card issuers and merchants a means to know, recognize and engage their customers.
In essence, the Mobi724 platform is developed to replace the rewards delivery costs with new and incremental revenue opportunities for banks, payment processors and merchants, while allowing cardholders to benefit from relevant offers, frictionless point redemption, and very real savings!
Scaling Mobi724 in a Containerized Environment
Mobi724 has started their data centre and cloud CENGN project. The company is testing key performance variables including peak capacity of their platform, scalability, functionality, load testing, and determining key metrics for resource determination. Through this project, Mobi724 is looking to prepare their solution for a large-scale commercial launch, capable of processing billions of card transactions.
CENGN is providing Mobi724 with CPU resources in a containerized environment using Apache Mesos. This infrastructure will provide Mobi724 with the testing resources and information to achieve their project goals.
One of the major advantages to conducting a CENGN project is the ability to deploy and test a solution in containers. For Mobi724, this will be the first time they have deployed their platform in a containerized environment. The strength of testing a containerized solution is the ability to monitor each component of the product separately, gaining a more granular level of detail on the performance of each piece of your solution.
Once the first project is successfully completed, Mobi724 is planning to continue testing with CENGN. During project number two, Mobi724 will use the information collected from the first project to test its AI components on CENGN’s GPU processor, a new CENGN service offering. They will focus on developing an application that leverages GPU accelerated AI supervised learning and determine the real-world effect this GPU speedup will have on their solution.
CENGN is looking forward to moving forward on these projects with Mobi724 and providing our infrastructure and expertise to help them bring their solution to the commercial phase!
READ THE RESULTS OF THIS PROJECT HERE
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