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Liquid Avatar Technologies and Optimize Financial Technology Partner to Launch Fintech and Neobanking Solutions for US Markets

Liquid Avatar Technologies | Cara Buckspan | Oct 28, 2021

Liquid Avatar partners with ftoptimize to launch Neo Banking fintech solutions to US market - Liquid Avatar Technologies and Optimize Financial Technology Partner to Launch Fintech and Neobanking Solutions for US Markets

Toronto, Canada - TheNewswire - October 28, 2021 -Liquid Avatar Technologies Inc. (CNSX:LQID)(OTC:LQAVF)(FRA:4T51) a global blockchain, digital identity and fintech solutions company announce that it has signed an agreement with California based Optimize Fintech Technology (“OptimizeFT”) to launch a fintech and neobanking solution for the Liquid Avatar Mobile App initially for US markets and consumers.  The program is expected to begin rollout sometime in the first two quarters of 2022.

The new Liquid Avatar payment card account will be powered by the OptimizeFT’s Engage360 payment card and digital banking solutions platform. The Engage360 platform contains a robust library of financial technology features and services that enable a wide range of financial solutions including a prepaid card and neobank accounts. Liquid Avatar will be well positioned with its security-conscious user base, to expand beyond its initial US Card offering to launch financial solutions targeting multiple demographics within its consumer base.

See:  Liquid Avatar Technologies Partners with the Ontario Convenience Stores Association (OCSA) to Provide Digital Age-Verification Solutions to Over 8,000 Stores

The neobank and alternative banking market is experiencing explosive growth. According to KBV Research, the global neobank market is expected to grow from a baseline of $34 billion in 2019 to an expected US$333 billion by 2026. The number one factor for consumers selecting a digital or alternative bank, is security and increased risk. With users having to create their Liquid Avatar Digitally secured ID as the first step to getting an account, Liquid Avatar provides an extremely high level of security to launch and generate significant opportunities from neobank and other alternative financial solutions.

“We are very excited to enter into an agreement with Liquid Avatar Technologies to develop and launch industry-leading payment card and digital bank (neobank) solutions,” said Jim Collas, CEO of OptimizeFT. “The Liquid Avatar mobile app is in a unique position to offer security conscious consumers financial solutions aligned with its Verifiable Credentials Ecosystem, which elevates account security to the next level.

In our experience, a perception of enhanced account security can drive account use by consumers, which in-turn generates increased account revenues. We anticipate working with Liquid Avatar Technologies to develop and launch an array of uniquely branded financial solutions that will strongly resonate with their user base.”

According to Allied Market Research, prepaid cards have taken the place of cash, cheques, and other payment cards where consumers or businesses want to use an electronic means of payment, without linking the payment to a credit or debit account. The global prepaid card market size was valued at $1.73 trillion in 2019, and Allied predicts that it is projected to reach $6.87 trillion by 2030, growing at a CAGR of 18.2% from 2021 to 2030. The prepaid card market is expected to exhibit high growth during the forecast period, owing to the convenience offered being similar to that of a credit or debit card with the ability to allow the end user to set the spending limit according to the budget.

See:

Digital IDs Help Open Banking Reach Its Fullest Potential

Liquid Avatar Releases Major Update to their Digital Identity Mobile App

Liquid Avatar Technologies has developed the Liquid Avatar Verifiable Credential Ecosystem (LAVCE) and a digital wallet that supports digital credentials for multiple forms of verification. The LAVCE platform has been developed to allow users to leverage their government issued and other digital ID, as they become available to verify who they are at healthcare facilities, testing labs, government agencies, financial institutions, schools, sports arenas, transportation, trade shows, age-restriction programs, and workplaces.

Available to consumers at no cost, the Liquid Avatar Mobile App is available in the Apple App Store and on Google Play and allows users to hold, manage and control digital credentials using the LAVCE.  Additionally, Liquid Avatar users can benefit from a wide range of discounts and cash back offers from over 600 brand named merchants across North America.

“We are very excited to have formalized this partnership with OptimizeFT,” said Michael Konikoff, Chief Revenue Officer - Liquid Avatar Technologies. “We believe that the OptimizeFT solution is ideal for our emerging US audience, and we believe that we can jointly provide value to Liquid Avatar Mobile App users and provide them with neobanking, engagement and loyalty solutions as we continue to accelerate our programs.”

The Liquid Avatar Wallet mobile app is now available to everyone via Google Play and the App Store.

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NCFA Jan 2018 resize - Liquid Avatar Technologies and Optimize Financial Technology Partner to Launch Fintech and Neobanking Solutions for US Markets The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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