LAKE ELSINORE, Calif., Nov. 10, 2020 /PRNewswire/ — IGEN Networks Corporation (OTCQB: IGEN) (CSE: IGN), a leading innovator of Cloud-based and Internet of Things (IoT) Automotive Solutions for the protection and management of mobile assets, today announced the launch of all three business brands: Nimbo Tracking, CU Trak, and Medallion GPS PRO through the newly created T-Mobile IoT Market Place -Ecommerce platform enabling commercial and enterprise customers to explore, select and rapidly deploy finished IoT solutions according to their unique needs.
Nimbo Tracking is a solution designed to be pre-installed into all vehicles on the dealership lot, providing a unique and value-added inventory and lot management capability. Upon sale of the vehicle, the customer has the option to purchase the Nimbo Tracking device and prepay for multiple years of service on IGEN’s application platform, providing valuable security, vehicle tracking, systems status and driver behavior services to vehicle owners. Doing so provides a high value service to the consumer and an added profit center for the dealership.
CU Trak offers a unique solution for the Credit Unions and their Members. By deploying CU Trak as part of the underwriting process, credit unions are able to finance more of their members with higher-risk credit scores while offering lower down payments and improved overall loan performance. This allows more credit union members to receive the vehicle loans they need for work and mobility while enjoying the benefits of user-friendly mobile apps for vehicle tracking and location records, security, real-time alerts, and driver behavior data, as part of the ongoing services package. CU Trak will be sold as a three-year hardware and monitoring services bundle targeting approximately 2,500 credit unions in key markets.
Medallion GPS PRO is a Commercial Fleet Management Platform designed for the Light Commercial Fleet owner, with compelling features and services at lower costs and emphasis on ease-of-use. The system is organized around both asset and driver with dispatch capabilities, automated reporting, maintenance, diagnostics reporting, driver behavior scoring, along with video tutorials on demand that are built on the AWS Cloud-based infrastructure. Medallion GPS PRO includes the patented “Digital Telematics Signature”, offering greater accuracy in measuring and scoring driver behavior across diverse fleets, which serves as a powerful tool for assessing actuarial risk of assets and their drivers.
“The offering of all three of our commercial brands through the T-Mobile IoT Market Place along with leveraging T-Mobile’s Ecommerce expertise, IGEN products and services are now available to a broader audience and have greater access to dealerships, credit unions, and fleet owners across the US,” said Abel Sierra, VP Business Development and General Manager.
About IGEN Networks Corporation
IGEN Networks Corporation creates software services for the consumer automotive and asset management industries. The solutions enable consumers and customers to mitigate risk, protect their families, improve productivity and actively manage their automotive and commercial assets.
IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit: www.igennetworks.net
This news release may contain forward-looking statements or forward looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases “goal”, “commitment”, “guidance”, “expects”, “would”, “will”, “continuing”, “drive”, “believes”, “indicate”, “look forward”, “grow”, “outlook”, “forecasts”, “intend”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN’s expectations regarding its business, customer base, strategy and prospects, and IGEN’s confidence in the cash flow generation of its business. Many factors could cause IGEN’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN’s reliance on key personnel; IGEN’s ability to maintain and enhance its brand; and difficulties in forecasting IGEN’s financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading “Risk Factors” in IGEN’s periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on IGEN’s forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
IGEN Networks Corporation
Neil G. Chan
SOURCE IGEN Networks Corporation