Killi Integrates 20,000 of the Largest Financial Institutions in the World to Allow Consumers to Put Banking and Credit Card Transactions Under Their Control.
Featuring the top financial institutions in the USA, Canada, Australia, New Zealand, and Singapore, the new passive revenue module will allow consumers to be paid for sharing shopping data.
NEW YORK, June 3, 2020 – Killi Ltd. (the “Company”) (TSXV: MyID), a global leader in consumer privacy, today announced the integration of access to over 20,000 financial institutions into its product. The inclusion of core financial firms allows consumers to put their transaction data under their control for sale to research firms, hedge funds, advertisers, and others in five countries and be compensated in cash.
“The current market for transactional data is powered by firms that collect data from credit cards and bank cards, and sell it without explicitly informing or compensating the consumer,” said Killi founder and CEO Neil Sweeney. Typically masked in the fine print, firms bait consumers by offering ‘points’ or ‘offers’ in exchange for financial information representing a fraction of the real value of the data. Killi continues to change this paradigm by providing consumers control and transparency on who is purchasing their data and providing them with direct compensation each time the data is acquired. Additionally, by putting explicit consent at the individual user level, Killi also removes privacy, fraud, and fidelity concerns for those that buy the data. Killi gives full transparency to both buyers and sellers. When purchasing data from Killi, you know exactly where this data is coming from and vice versa.
Killi is one of the only companies in the world that provides consumers with a share of the revenue derived from the sale of their data. “The multi-billion-dollar data market has continuously excluded the consumer, yet it continues to generate billions of dollars for corporations every year,” said Sweeney, “A solution to provide consumers with transparency regarding the use of their data and compensation represents the future of data.”
Killi’s “Fair Trade DataTM” program1, which allows for consumer inclusion in the sale of personal data, launched in April 2020, and provides full transparency for buyers of data to see the exact source of the data they are buying while delivering a similar vantage point for consumers. This new equitable, fair-trade model is playing a significant role in the movement toward universal basic income2 for individuals by establishing a new model that redistributes wealth back to the consumer.
To learn more about Killi’s financial dividend and more extensive fair-trade data program, please visit https://killi.io/earn.
Killi is a consumer privacy ecosystem that aims to put people back in control of their data. Killi allows consumers to take back control of their consumer data from those who have been collecting it and selling it unbeknownst to them. Available on iOS, Android as well as the web, Killi is available internationally. With Killi, consumers can opt-in and link specific pieces of personal information from various financial and social accounts that they would like to put under their control and share with companies and be compensated directly in the form of cash for its use.
Download Killi here.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Elinesky, CFO
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Forward-Looking and Other Cautionary Statements
This news release may contain “forward-looking statements” within the meaning of applicable securities laws, including, but not limited to, the Company’s financing plans. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management. They are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to: the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company’s operations and economic activity in general; and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company does not intend and undertakes no obligation to update any forward-looking statements to reflect, in particular, new information or future events.