TORONTO, Dec. 22,
2023 /CNW/ - Genifi Inc. (TSXV: GNFI) ("genifi" or
the "Company") a leading provider of advanced financial technology
platforms, announced today that it and FICANEX Services Limited
Partnership ("FICANEX") have agreed to terminate the services
agreement (the "Services Agreement") that was entered into in
connection with the Company's purchase of FICANEX Technology
Limited Partnership on July 30, 2021.
Under the terms of the Services Agreement, genifi had agreed to
provide certain services to FICANEX for an initial period of three
years (ending on July 30, 2024). As
part of the termination of the Services Agreement, the FICANEX
Board of Directors will welcome back and re-employ the genifi staff
that support FICANEX and its customers, effective January 1, 2024.
"This termination of the Services Agreement marks the completion
of genifi's transformation into a pure IP company, following the
previously announced licensing agreements entered into by the
Company with respect to its tunl.chat platform and IDVerifact
digital identity platform", commented genifi's CEO, Tom Beckerman.
"The FICANEX Services Board of Directors continue to be
committed to our FI customers from Coast to Coast in supporting the
needs of our financial institution customers and cardholders that
rely on the Network. We are excited to continue our legacy of
accelerated innovation through collaboration", adds Jamie McLeod, Chairperson of the Board.
About genifi inc.:
Genifi (formerly Prodigy Ventures) delivers Fintech innovation,
with its cutting-edge platforms: IDVerifact for digital identity
verification, and tunl.chat for generative AI chat. Genifi has been
recognized as one of Canada's
fastest-growing companies and is committed to driving innovation in
the Fintech industry.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE genifi inc.