LAS VEGAS, Dec. 30, 2020 /PRNewswire/ -- Remark
Holdings, Inc. (NASDAQ: MARK), a diversified global technology
company with leading artificial intelligence ("AI") solutions and
digital media properties, today announced that one of the largest
commercial banks in China chose
KanKan AI to upgrade its 169 branches in the Yunnan Province. The branches will install the
Smart Customer Retail Platform created by Remark's KanKan AI
business to act as a unified, interactive hub to help bank
operators alleviate costly manual processes, improve the users'
experience, enhance customer loyalty, and increase online-offline
business.
"The bank's implementation of Remark AI's platform reflects
our initial capture of a $22 billion
total addressable market. As many as 20,000 of approximately
220,000 branches of major banks are scheduled to be upgraded
annually with the industry's estimated $2 billion annual budget," noted
Kai-Shing Tao, Chairman and Chief
Executive Officer of Remark Holdings. "Our Smart Customer Retail
Platform, which integrates the Kankan AI platform, can be
customized to meet each branch's marketing goals by personalizing
services for each customer."
The Smart Customer Retail Platform enables a cross-industry
alliance for promotional and marketing opportunities and paves the
way for an intelligent marketing system that is accurate,
efficient, and integrated. By accessing the bank-operated
e-commerce platform, customers can directly make desired purchases
online or download the mobile app by quickly scanning the QR code
on a mobile device, all of which the customer can do without risk
of data exposure or privacy concerns.
Given the initial success, KanKan AI will continue its product
implementation targeting four other major banks across 30
provinces. Those four major banks having more than 150 branches in
each of the 30 provinces, KanKan AI has gained a competitive
advantage in an estimated $360
million total addressable market for its Smart Customer
Retail Platform.
Additional information regarding KanKan AI and its other
innovative solutions can be found on its website
(www.remarkdip.com).
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 an
e-commerce digital media property focused on a luxury beach
lifestyle. 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 (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 Contacts
E. Brian Harvey
Senior Vice President of Capital Markets and Investor Relations
Remark Holdings, Inc.
ebharvey@remarkholdings.com
702-701-9514
Fay Tian
Vice President of Investor Relations
F.Tian@remarkholdings.com
(+1) 626-623-2000
(+86) 13702108000
View original content to download
multimedia:http://www.prnewswire.com/news-releases/kankan-ai-chosen-to-upgrade-branches-for-one-of-the-largest-commercial-banks-in-china-with-its-smart-customer-retail-platform-301199336.html
SOURCE Remark Holdings, Inc.