- The
novel coronavirus pandemic has led to limitations on society that have
hampered commerce and the ability of industries to sell their products
- Fintech
solutions developer PowerBand Solutions is positioning itself to meet the
needs of an auto industry hammered by the pandemic’s distancing protocols
with cloud-based purchase, sales, lease and auction innovations
- The
company provides a responsive technology platform that facilitates
financing, inventory, and even inspections management
- Industry
analysts are predicting the need for such solutions to enable remote
transactions will be ongoing regardless of the duration of the pandemic’s
peak activity
- PowerBand
has obtained at least $10 million in financing commitment as a show of
confidence in its development
The novel coronavirus has thrown down the gauntlet to
businesses worldwide, challenging them to prove claims they’re innovative and
adaptive at responding to the demands of an ever-changing society. Social
distancing, orders to shut down non-essential business activity and
stay-at-home quarantine policies have had an effect on virtually all industries
worldwide as a result of the COVID-19 pandemic, and now it’s up to those
businesses to decide if they’ll resist social protection policies amid their
downward spirals or find innovative ways to forge ahead.
The auto industry has weathered a variety of economic
challenges, historically, and this newest challenge is turning traditionally
brick-and-mortar dealership operations toward a strengthened digital retailing
experience that reflects a realistic buying scenario.
PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FRA:
1ZVA) is leading this industry transformation.
The innovative e-commerce auto buying and leasing platform
created by PowerBand Solutions is establishing itself as a disruptive fintech
development designed to get retailers and consumers together online. Using a
smart phone, from any location, the PowerBand system makes buying, selling,
leasing or financing a vehicle as easy as ordering from Amazon or booking an
Uber.
The industry is certainly searching for non-traditional ways
for the automotive retail experience. Electric vehicle manufacturing giant
Tesla is rolling out “touchless deliveries” in a number of locations that allow
customers to unlock and enter their new cars at delivery parking lots without
having to come in contact with other individuals (http://ibn.fm/wpQIl). However,
such systems continue to rely on paperwork transfers that could potentially be
simplified through PowerBand’s solutions.
PowerBand announced recently that it has begun trademark
registration for the brand DRIVRZ to help market its transaction platforms
across North America and globally. The company’s innovations include web-based
platforms for financing and inventory, dealership auctions and even
used-vehicle inspections.
The company has secured a $10 million financial commitment
from Texas-based D&P Holdings Inc.
For more information, visit the company’s website at www.PowerBandSolutions.com
NOTE TO INVESTORS: The latest news and updates
relating to PWWBF are available in the company’s newsroom at http://ibn.fm/PWWBF
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