VANCOUVER, British Columbia (September 21, 2020) — PowerBand Solutions Inc. (TSXV: PBX) (OTCQB: PWWBF) (Frankfurt: 1ZVA) (“PowerBand“, “PBX” or the “Company”) is pleased to announce that today it has entered into an agreement with Syngrafii Inc. (“Syngrafii”) to allow consumers to safely and quickly sign automotive leases and other documents on PowerBand’s virtual transaction platform.
PowerBand will initially introduce the Canadian-made Syngrafii signature system on PowerBand’s Canadian division, DRIVRZ Canada, and later expand it to DRIVRZ US, allowing consumers and automotive dealers to buy, sell, lease, trade and finance vehicles as easily as buying a product on Amazon. PowerBand’s transaction platform, being trademarked under the brand DRIVRZ, will be made available in Canada, the United States and global markets. The initial term of the agreement is one year with automatic annual renewal options. PowerBand will pay a standard commercial fee to Syngrafii for each transaction completed utilizing Syngrafii’s technology.
Syngrafii is unique in the industry because its patented e-signature platform allows for the world-wide use of wet signatures, complete auditing of signatures and video recording during a signature, to ensure the security of all digital transactions.
“Our partnership with Syngrafii adds another easy-to-use tool to meet PowerBand’s goal of offering consumers a secure and efficient way of buying, selling and leasing a car or truck from a smart phone or any digital device, from any location,” said PowerBand CEO Kelly Jennings. “With Syngrafii, a Canadian-made technology now being widely adopted by companies in the digital transaction space, we will be bringing a new level of security and simplicity to e-transactions in the automotive sector.”
With its proprietary Video Signing Room ™ (“VSR”), iinked Paper ™, LongPen® and electronic signature solutions, Syngrafii enables PowerBand users to virtually execute the documents to purchase a vehicle in real-time. This integrated solution allows PowerBand to manage all transactions in a connected world, anywhere, anytime and securely. The Syngrafii Compliance Engine and Transactional MasterFile offers best-in-class security, compliance and nonrepudiation while ensuring regulatory compliance and consumer protections not found in other platforms.
“We are delighted to be part of the digital transformation that PowerBand is bringing to the automotive sector,” said Syngrafii CEO and founder Matthew Gibson. “Our signature technology and VSR brings a security and compliance standard that is second to none to the consumers and automotive dealerships using PowerBand to buy, sell, lease, trade and finance their automobiles.”
About PowerBand Solutions Inc.
PowerBand Solutions Inc., listed on the TSX Venture Exchange and the OTCQB markets, is a fintech provider disrupting the automotive industry. PowerBand’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, funders and manufacturers (OEMs). It enables them to buy, sell, trade, finance, and lease new and used, electric- and non-electric vehicles, on smart phones or any other online digital devices, from any location. PowerBand’s transaction platform — being trademarked under DRIVRZ — is being made available across North American and global markets.
Syngrafii Inc. was originally founded by renowned author, Margaret Atwood, and Matthew Gibson in 2003 with a mandate to design and build the LongPen®. The company grew from that base and developed a Patent Portfolio consisting of 11 families with over 45 granted and pending applications for Video Signing Room™, iinked Paper™ and LongPen®. Syngrafii released in May version 2.0 of its software after 11 different upgrades to Version 1.0. Version 2.2 was released in September. The Syngrafii Signature Platform currently operates in English, French and Spanish and new languages are being added regularly. New product features are added monthly either drawn from an internal technology map or in response to client needs. For Virtual Disclosure details on Syngrafii’s IP click here.
For further information, please contact:
Richard Goldman, VP Corporate Development
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