- 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://nnw.fm/HTr9x). 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://nnw.fm/PWWBF
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