Shares of QuantGate Systems (OTCMKTS:QGSI) ended sharply higher in the previous trading session.
On Tuesday, QGSI stock soared 22% to $0.11 with 17K shares, compared to its average volume of 196K shares. The stock has moved within a range of $0.1000 – 0.1295 after opening trade at $0.1295.
Memorandum of Understanding with SoLVBL Solutions to Develop a Program for Data Security
Artificial Intelligence, Machine Learning SaaS-based Fintech solutions company, QuantGate Systems (OTCMKTS:QGSI), on November 23, 2021 announced signing Memorandum of Understanding with SoLVBL Solutions Inc for cooperation and development of a cyber-security platform. The platform will be detecting cyber-attacks and give 24/7 data security to QuantGate’s “Intelligence” platform.
The company’s technology involves self-evolving algorithms highly responsive to transforming market conditions as well as process significant amounts of real-time behavioural data.
Augmenting cyber threats make it essential to have resilient data security, especially for maintaining seamless services. Integration of “Q by SoLVBL” technology within the QuantGate platform will enable greater data security and speed of transactions.
Govin Misir, CEO of QuantGate, said that the increase in data collection makes it vital to protect and verify data. Misir expressed excitement on collaboration with SoLVBL Solutions, based on broad knowledge of data verification and cybersecurity. The CEO further said that there have been a number of initiatives from governments globally on data security and the verification solution will enable the company to grow and meet demands of existing and future partners.
Kaiser Akbar, President & CEO of SoLVBL Solutions said that the company’s collaboration with QuantGate will result in a comprehensive cybersecurity solution for QuantGate’s technology service platform to address growing global cyber threat.
“With the increase in data collection, the demand to protect and verify data is unprecedented. QuantGate is excited to collaborate with SoLVBL Solutions, based on their broad knowledge of know-how in data verification and cybersecurity. There have been numerous announcements from Governments globally, regarding the security of data, and we think this verification solution will allow us to continue to grow and meet the demands and needs of our existing and future partners and clients. The collaboration aligns with our expansion and growth plans to become a global technological leader,” said Govin Misir, CEO of QuantGate.
QGSI stock is trading below the 20-Day and 50-Day Moving averages of $0.12 and $0.15 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.12. The stock is up 39% over the past 6-month.