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AnalytixInsight Announces InvestoPro MOU with Samsung Electronics Italia to Advance FinTech Digital Trading Platform
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
AnalytixInsight Inc. (ATIXF) has signed a Memorandum of Understanding (MOU) with Samsung Electronics Italia to promote the InvestoPro digital trading platform to Samsung users in Italy. This partnership allows InvestoPro to be featured as an exclusive financial app on Samsung's Quick Access and recommended via the App Installer. The collaboration aims to expand InvestoPro's reach throughout Europe, with a new trading platform version designed for Samsung devices expected to launch soon. CEO Prakash Hariharan views this as a critical growth opportunity in the European market.
Positive
MOU with Samsung enhances visibility and user acquisition for InvestoPro digital trading platform.
Strategic partnership leverages Samsung's large active user base in Europe, potentially increasing revenue.
Plans for expanded distribution in key European markets: Spain, Germany, France, and the UK.
Negative
Dependence on Samsung's execution of the MOU may pose risks to realization of projected benefits.
Potential challenges in launching the new trading platform in a competitive market.
TORONTO--(BUSINESS WIRE)--
AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), a financial content and enterprise software solutions provider, announces that InvestoPro SIM, the subsidiary of its affiliate MarketWall, has executed a Memorandum of Understanding (the “MOU”) with Samsung Electronics Italia S.p.A. to profile the InvestoPro digital trading platform to Samsung users in Italy. Subsequently, AnalytixInsight will now plan expanded European distribution in Spain, Germany, France, and the UK.
Under the MOU, Samsung will profile InvestoPro as an exclusive financial app on Samsung’s Quick Access, the start page of the Samsung Internet Browser. Samsung has millions of monthly active Samsung Internet users who utilize Quick Access, which profiles clickable icons for leading brands to users each time they use their browser and allows users to easily reach partner websites.
In addition, pursuant to the MOU, Samsung will also recommend InvestoPro to users as an exclusive digital trading app as part of its App Installer. The App Installer guides users during their first device power on procedure and presents recommended apps in popular, useful, and fun categories. App recommendations can be targeted based on age and gender and can easily be downloaded by tapping the download button.
AnalytixInsight will now plan expanded European distribution to Samsung users in Spain, Germany, France, and the UK. This is part of a major initiative to offer a unique digital stock trading platform that combines attributes of AI and machine learning and provides comprehensive coverage of financial instruments traded globally on multiple exchanges including stocks, bonds, commodities, and ETFs. The InvestoPro app carrying financial news, quotes, and content on global markets is already available on Samsung TVs and several other Samsung consumer products.
Prakash Hariharan, Chairman and CEO of AnalytixInsight and board member of InvestoPro SIM, commented: “This MOU with Samsung is a significant milestone and we anticipate that it will position InvestoPro as a leading digital trading platform in Europe. We believe that it is an excellent partnership to build scale and revenues given that platform development and regulatory approvals are already in place. Samsung has the largest market share of mobile users in Europe, and we are proud to partner with them to promote InvestoPro to their sizable customer base and deliver unique financial content using our proprietary AI and machine learning algorithms.”
Giovanni Locatelli, Platform Innovation Manager of Samsung Electronics Italia, commented: “We are very excited about this relationship to work together with InvestoPro and AnalytixInsight to promote the InvestoPro digital trading platform to our customer base now that our customers are increasingly trading with their mobile devices. We are very happy to be working with AnalytixInsight to provide a range of content and calibrated risk metrics using unique attributes of AI and machine learning on financial securities. This work with AnalytixInsight is a part of our strategy to offer a disruptive and innovative technology platform.”
In conjunction with the MOU, InvestoPro is preparing to launch a new trading platform version specifically designed for Samsung devices with no fixed costs, competitive trading fees, and news reports tailored for Samsung users.
AnalytixInsight is a data analytics and enterprise software solutions provider to world-leading institutions across various industries. AnalytixInsight develops and markets cloud-based platforms providing financial content, stock trading, and research solutions for banks, brokers and investors in the financial services industry. AnalytixInsight holds a 49% interest in MarketWall, a developer of FinTech solutions for financial institutions. Visit AnalytixInsight.com.
Regulatory Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company’s business operations and objectives, particularly respecting its expectations of InvestoPro and the MOU, the impact of the MOU on the Company, its expectations of a broader profile to Samsung users throughout Europe, its expectations that the partnership with Samsung will build scale and revenues, the launch of a new trading platform designed for Samsung devices, and the Company’s future performance. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company’s technology and revenue generation; risks associated with operation in the technology sector; the Company’s ability to successfully integrate new technologies and employees; Samsung’s ability and willingness to implement the terms of the MOU; InvestoPro’s ability to launch a new trading platform;foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
