LAS VEGAS, Dec. 10, 2019 /PRNewswire/ -- Remark Holdings,
Inc. (NASDAQ: MARK), a diversified global technology company with
leading artificial intelligence ("AI") solutions and digital media
properties, today announced that it has partnered with
Sichuan Boyuan Technologies, a leading financial systems integrator
to transform the Bank of Luzhou's largest traditional bank branch,
in the Sichuan provice of
China, into an AI-driven "Smart
Branch".
The popularity of online and internet mobile banking has given
customers greater control of their financial transactions through
the convenience of their phone. The traditional bank experience has
customers walking up to a teller for cash deposits and withdrawals
while bankers and loan officers wait for customers to reach out to
them in order to answer questions and potentially suggest new or
additional financial products. Today's bank branches need to
compete with the convenience of online banking by providing a
targeted customer experience that promotes and provides the
relevant financial products desired by the customer.
Remark's KanKan AI Technology captures the customers behavior
from the moment they enter a bank branch. Smart Kiosks provide
traditional teller cash dispensing and deposit functionality while
introducing the customer to the Bank's various financial products
and providing customized recommendations for the banking products
that fit the specific customer's needs. VIP customers are
identified to the banker's on-site so they may be directed to the
relevant banking product expert who can then provide enhanced
product information and customer support.
Intially valued at $575,000 for
the Bank's flagship branch, Remark's KanKan AI and Sichuan Boyuan
Technologies will look to expand the Smart Branch initiative to the
Bank's 29 additional branches upon successful deployment. Overall,
in 2018, Chinese banks spent over $15
billion to improve their technology infrastructure and IT
functionality.
"We are excited to partner with Sichuan Boyuan Technologies to
help transform the Bank of Luzhou's flagship branch into an AI
Smart Bank Branch. Boyuan is a leading financial systems integrator
that services the $15 billion banking
technology market in China," said Kai-Shing Tao, Chief Executive Officer of Remark
Holdings. "Other banking customers of Sichuan Boyuan
Technologies include the Bank of China and the China Construction Bank, among
others. With over 137 commercial banks and over 10,000 bank
branches in China, this represents
a tremendous market opportunity for Remark's KanKan AI."
About Remark Holdings, Inc.
Remark Holdings, Inc.
(NASDAQ: MARK) delivers an integrated suite of AI solutions that
enable businesses and organizations to solve problems, reduce risk
and deliver positive outcomes. The company's easy-to-install AI
products are being rolled out in a wide range of applications
within the retail, financial, public safety and workplace arenas.
The company also owns and operates digital media properties that
deliver relevant, dynamic content and ecommerce solutions. The
company is headquartered in Las Vegas,
Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please
visit the company's website at www.remarkholdings.com.
Forward-Looking Statements
This press release may
contain forward-looking statements, including information relating
to future events, future financial performance, strategies,
expectations, competitive environment and regulation. Words such as
"may," "should," "could," "would," "predicts," "potential,"
"continue," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," and similar expressions, as well as
statements in future tense, identify forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other factors, including those discussed in Part I, Item 1A. Risk
Factors in Remark Holdings' Annual Report on Form 10-K and Remark
Holdings' other filings with the SEC. Any forward-looking
statements reflect Remark Holdings' current views with respect to
future events, are based on assumptions and are subject to risks
and uncertainties. Given such uncertainties, you should not place
undue reliance on any forward-looking statements, which represent
Remark Holdings' estimates and assumptions only as of the date
hereof. Except as required by law, Remark Holdings undertakes no
obligation to update or revise publicly any forward-looking
statements after the date hereof, whether as a result of new
information, future events or otherwise.
Company Contact:
E. Brian
Harvey
Remark Holdings, Inc.
ebharvey@remarkholdings.com
702-701-9514
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SOURCE Remark Holdings, Inc.