Smart Card Marketing Systems Inc (OTCMKTS:SMKG) on May 11, 2022, announced the implementation of RegTech Artificial Intelligence with Paytech and Fintech solutions. The firm ventured into a vendor agreement under confidentiality, allowing SMKG to access the vendor’s API to increase the recent ChatBot AI technology. The ChatBot is being integrated across the platforms.
Market Action
On Wednesday, SMKG stock gained 5.71% to $0.0370 with 2K shares, compared to its average volume of 124K shares. The stock moved within a range of $0.0370 – 0.0370 after opening trade at $0.0370.
The ChatBot AI as well as combined applications lead to an impressive suite offering for governments, and financial institutions, and expand into Crypto, E-gaming & marketplace. This requiresgreater monitoring, tracking as well as underwriting of customers. The fresh functionality will collaborate with analysts, agents, and potential customers through self-assessments.
SMKG CEO Massimo Barone said that it is an exciting step in regulatory compliance with Artificial Intelligence. Barone added that the extension with the platforms as well as expansion of services to the financial industry will give monitoring and underwriting with a new analytical tool. This tool is meant for both self-assessment as well as third-party verifications and monitoring. The CEO said that it is a fact that enterprises, financial institutions, card networks as well as payment providers have issues withunderwriting as well as assessing businesses for payment acceptance. The global RegTech market became a value of US$ 8.7 Billion in 2021.
Key Quote
SMKG:OTCQB CEO Massimo Barone stated, “An exciting step forward in Regulatory Compliance with Artificial Intelligence. This extension with our platforms and expansion of our services to the Financial Industry will provide monitoring and underwriting with a new analytical tool for both self-assessment and 3rd party verifications and monitoring. It is a known fact that Financial Institutions, Enterprises, Card networks and Payment providers have challenges when underwriting and evaluating businesses and individuals for a particular industry service offering that includes payment acceptance. Everything is changing at disruptive speeds and the shift to the Blockchain and Metaverses is immeasurable. The interaction with Metaverses alone will be significant if the right adoption by gamers and vendors can seamlessly participate without transactional friction. Our business strategy has been to develop business intelligent marketplace platforms with embedded payments to facilitate faster deployments.”
Traders Note
SMKG stock is trading below the 20-Day and 50-Day Moving averages of $0.0562 and $0.0599 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 38.
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