PowerBand Solutions Inc. CEO Discusses Company’s Efforts to Cut out the Middlemen, Modernize the Car Buying Process

NEW YORK, June 30, 2020 (GLOBE NEWSWIRE) -- via NetworkNewsAudio -- PowerBand Solutions Inc. (TSX.V: PBX) (OTCQB: PWWBF) (FSE: 1ZVA) today announces that its CEO, Kelly Jennings, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 45+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Jennings discussed his experience in the automotive industry, as well as PowerBand’s ongoing efforts to simplify and modernize car buying for consumers.

The broadcast can be heard at The NetworkNewsAudio Interviews Podcast.

Jennings started the interview by discussing his background in the automotive market and highlighting some recurring issues with the traditional car buying process that fuel his current efforts with PowerBand. “My background actually started in the tax department many years ago, but I migrated to the auto sector,” he said. “I acquired my own dealership within five years and ended up with 12 with my partners. It became apparent as I went down the road that the systems that were currently being used for the consumer just didn’t work.”

PowerBand is focused on streamlining the process of buying a car through the introduction of solutions that benefit “the consumer, the dealer, the funding source and the OEMs.”

When discussing the company’s recent milestones, Jennings highlighted the creation of PowerBand’s consumer-focused apps. “One of the bigger milestones was, we took our solution and we created apps for the consumer, so the consumer can self-appraise and send their vehicle into our network and sell directly,” he added. “The other milestone is to initiate our own funding sources, so we can create a funding platform through which you can get approved in seconds. All the paperwork can be done in your home.”

Another major milestone for PowerBand was the introduction of the DRIVRZ brand. “We wanted a name that would resonate, because the main thing about our platform is that it’s not limited to cars,” Jennings said. “The platform was designed to be able to accommodate motorcycles, recreational vehicles, etc.”

While DRIVRZ is currently being introduced as a North American solution, Jennings noted that the company has “some very large partners from outside North America that would like to take it around the world.”

PowerBand’s apps are supported through partnerships with some key names in the industry, including RouteOne LLC, which is principally owned by Ford, General Motors, Chrysler and Toyota. “They just exist for one purpose, which is to accommodate the paperwork process with the various lenders,” Jennings added. “They’ve got 19,000 dealers and 1,600 lending institutions… The client has numerous options available.”