VANCOUVER, BC, July 17, 2023 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (the "Company" or "Fobi"), an industry leader in harnessing AI and data intelligence to enable digital transformation, is pleased to announce that the Company’s subsidiary, Passcreator, has started a partnership with German fashion retailer, Wormland, to digitalize the brand’s existing loyalty program, THECLUB. With Passcreator’s digital loyalty solution, Wormland will be able to distribute wallet passes to all members of THECLUB, who can then have their passes scanned at Wormland retail locations to claim promotions and discounts, redeem rewards, and more. Fobi will earn revenue from this deal via monthly fees based on the volume of active passes.

Based in Hanover, Germany, Wormland specializes in men’s apparel and accessories with a commitment to elevating the retail shopping experience through a combination of modern lifestyle, extraordinary architecture, art, and music, with a wide-ranging brand portfolio from newcomer labels to high-end fashion brands. Wormland operates in several brick-and-mortar stores in major cities across Germany, including Berlin, Frankfurt, and Munich, as well as through its e-commerce storefront for the DACH region (Germany, Austria, and Switzerland).

Tim Kälberer, CEO of Wormland, states: "Our partnership with Passcreator has been a game-changer for us and the way we serve our customers. Through the wallet pass, we’ve been able to speed up the registration process for THECLUB, prioritize our sustainability efforts, and make claiming and tracking rewards as easy as possible. Thanks to the ease-of-use of the Passcreator platform and support from the Passcreator team, our new digital THECLUB card opens up many new exciting opportunities for us to engage with our customers in ways we only thought were possible by building an expensive app."

NEW DIGITAL LOYALTY PROGRAM DRIVES ENHANCED SHOPPING EXPERIENCES AND DELIVERS KEY TRANSFORMATION TO SUSTAINABLE RETAIL

Leveraging Fobi’s Passcreator, Wormland has successfully transitioned its traditional loyalty program from paper and plastic to digital. Customers can now register for THECLUB by simply scanning a QR code at the checkout. The data, facilitated via Salesforce, is transferred securely to a digital card within the customer’s smartphone wallet, streamlining the entire registration process. This integrated process now means Wormland can better identify its customers and attribute shopping behaviors in real-time to optimize its targeting efforts, save time and money, and improve its overall campaign ROI.

This digital transformation project with Wormland closely aligns with Fobi's commitment to supporting its customers with their Environmental, Social, and Governance (ESG) goals. Through the transformation from physical to digital loyalty cards, Wormland is able to significantly reduce its plastic and paper consumption and help lead sustainability efforts for the retail industry.

Rob Anson, CEO of Fobi, states: “Passcreator continues to provide proven ways for leading brands like Wormland to deliver on their dedication to improved customer experiences. Passcreator and its broad feature set for digital loyalty and membership cards, through the wallet pass, has continued to develop great traction across the retail industry, and this is a great example of how brands like Wormland can leverage innovation and technology to drive increased customer engagement and activation and meet their ESG goals."

For more information about Passcreator by Fobi, please visit the Passcreator website.

This press release is available on the Fobi website.

To download the Fobi Investor Experience Wallet Pass to get enhanced access to investor information about Fobi, please visit our Investor Experience page.

About Wormland
Based in Hanover, Germany, Wormland is a leading, innovative fashion retailer known for its unique style of men’s apparel and accessories, as well as its commitment to digitalization, sustainability, and customer service. Wormland’s loyalty program, THECLUB, rewards dedicated customers with exclusive member benefits and discounts with the goal to provide the best possible shopping experience for their customers. For more information, please visit https://www.wormland.de/.

About Fobi
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.

Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.

For more information, please contact:

This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

* The DACH region refers to the three Central European countries of Germany (D), Austria (A), and Switzerland (CH).