LAS VEGAS, Jan. 4, 2018 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a global technology company focused on providing artificial-intelligence-based solutions, announced that its KanKan business has launched a new credit-related FinTech product that will improve banks' risk-management systems for greater efficiency and accuracy in determining a prospective client's credit quality. Remark also announced that, after several months of intensive product testing, it has been awarded contracts by several major banks in China, including CITIC Bank (which was formerly known as China International Trust Investment Corporation), Industrial Bank, Guangdong Development Bank and China Minsheng Bank. Each contract is initially expected to generate millions of dollars of revenue for the company.
"We are proud to add this new product and the new contracts to our recent string of successes made possible by our KanKan team," stated Kai-Shing Tao, Chairman and CEO of Remark Holdings. "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."
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. 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.
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.
Douglas Osrow, CFO
Remark Holdings, Inc.
702-701-9514, ext. 3025
Investor Relations Contact:
Matt Glover or Tom Colton
Liolios Group, Inc.
View original content with multimedia:http://www.prnewswire.com/news-releases/remark-holdings-announces-new-fintech-product-and-new-contracts-300577516.html
SOURCE Remark Holdings, Inc.