Business
PowerBand to Offer Access to Nearly 4.5 Million Vehicles For Sale and Lease
AI-Powered Vehicle Searches, Predictive Sales and C onsumer Trends Soon to be on DRIVRZ ...
About this update from Ameritrust Financial Technologies Inc.
[{"type":"text","content":"PowerBand to Offer Access to Nearly 4.5 Million Vehicles For Sale and LeaseAI-Powered Vehicle Searches, Predictive Sales and Consumer Trends Soon to be on DRIVRZVANCOUVER, BC / ACCESSWIRE / October 21, 2020 / PowerBand Solutions Inc. (TSXV:PBX)(OTCQB:PWWBF)(Frankfurt:1ZVA) (\"PowerBand,\" \"PBX\" or the \"Company\") is pleased to announce that on October 15th, 2020 it entered into an agreement to partner with one of the world's leaders in big-data and artificial intelligence to offer 4.5 million vehicles for sale and lease on the Company's virtual transaction platform, DRIVRZ.Under the licensing agreement, PowerBand will have access to databases that include a current average of 4.5 million new and used vehicles and their VIN (identification) numbers. In addition, dealers who subscribe to the big-data provider's SaaS platform will have access to AI and machine learning tools to help them optimize their vehicle inventory decision making by offering predictive analytics and sales trend analysis. Dealers who use these data tools will have a competitive sales edge and better understanding of key market trends.With DRIVRZ, drivers and dealers will be able to easily search through millions of cars and trucks for sale and lease across the United States and Canada. Being branded under DRIVRZ, the PowerBand virtual transaction platform enables consumers and dealers to buy, lease, sell and finance vehicles on a smart phone or any other digital device, as easily as buying a product on Amazon.The agreement to expand PowerBand's vehicle inventory is part of the Company's creation of a North American-wide DRIVRZ used-car network, taking out unnecessary middlemen and fees to benefit drivers, dealers, lenders, commercial and rental fleets, as well as other stakeholders. With this latest partnership, the Company expects revenue from PowerBand's auction platform, D2D and the Driveaway app, as well as its leasing platform, MUSA, to increase dramatically.Under the agreement, PowerBand also obtains the ability to sell and lease millions of vehicles without having to purchase inventory before a vehicle order is placed. This removes the need for major capital outlays and the risk of inventory depreciation for dealers, removing one of the major business challenges in the industry.\"Just like Airbnb, which can book hotel stays without purchasing a hotel...