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Tomizone Ltd expands technology contract with major Asia-Pacific financial institution

Tomizone Ltd expands technology contract with major Asia-Pacific financial institution

Tomizone Ltd (ASX:TOM), an Internet of Things (IoT) software and services provider, will offer an expanded WiFi connectivity and digital engagement solutions across 300 retail outlets of a major, unnamed Asia-Pacific based financial institution.

The financial institution is reputed to be among the largest within the Asia-Pacific region with more than 1,200 branches and operations in over 30 countries.

The expansion builds upon an existing deployment for Tomizone in over 250 retail outlets across Australia promoting mobile application downloads and consumer focused banking initiatives.

The company's technology aims to help enterprise clients reach a broader audience, engage more consumers, promote their brand, and achieve a higher return on investment from their marketing and technology spend.

Tomizone is transitioning into an IoT software and services provider and the expansion further scales the technology.

A key milestone in Tomizone’s transition is marked by its technology partnership with Purple Wifi, a free WiFi platform through which businesses can survey their customer's shopping patterns.

In May, Tomizone had received applications to fully subscribe a $4.2 million capital raising including refinancing of a $1.7 million debt.

This is part of a financial and operational restructuring plan to achieve lower debt and operating costs.

The Auckland-based Tomizone started trading on the ASX in May 2015 after raising $5 million.

 

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Tomizone Ltd Timeline

Newswire
February 02 2015

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