The stock of Remark Holdings, Inc (NASDAQ:MARK) closed at $11.60 gaining 5.92% in yesterday’s trading session. Remark Holdings, Inc has over the years focused its efforts and resources in the provision of artificial-intelligence-based solutions. Looking back from where it came from, it goes without saying that it has been able to accomplish much and its most recent statement is in line with progressive nature.
In its statement, it outlined that its KanKan business had proceeded to unveil a new credit-related FinTech product which was going to help a huge deal towards improving the banks’ risk-management systems. Such a move would help towards the attainment of greater accuracy and efficiency and that is towards the determination of a prospective client’s credit quality.
The other announcement by the company was about the efforts it had directed into the intensive product testing which saw it awarded a series of contracts by a wide range of major banks in China, including China Minsheng Bank, CITIC Bank (which was formerly known as China International Trust Investment Corporation), Guangdong Development Bank and Industrial Bank.
If everything goes according to plan, it is expected that each of the contracts will be able to generate millions of dollars of revenue thus increasing the company’s competitive edge and this is taking place at a time when business competition around the world is growing stiffer. The market dynamics are slowly compelling a significant number of companies to follow up on the most recent technological advancements as well as leverage on them towards attaining immense business success.
The Chairman and CEO of Remark Holdings, Kai-Shing Tao said that as a company they took great pride in the fact that they had succeeded at adding the new product and the new contracts to their latest string of successes adding that the KanKan team had played quite a significant role.
He opined, “During 2018, we expect to increase the number of customers using our new product, and we will continue creating innovative products and services for businesses based upon our cutting-edge technologies and solutions.”
A market expert said that the company was on track towards achieving immense business success.