- FingerMotion Inc., has become a provider for China’s booming e-commerce market with rich communication services (“RCS”) and big-data insights, developing its Sapientus database as a solution for clients’ predictive services needs
- In addition to its SMS, MMS and mobile top-up business, FingerMotion’s focus on adapting Sapientus to the needs of the insurance industry are driving revenues to new records each quarter
- In China, insurance is compulsory to protect certain societal needs, such as pensions, medical care, employment (and unemployment), and maternity care, creating a ready market for insurance providers
- The Sapientus platform creates proprietary matrices for assessing consumer risk potential using context-based outlooks in accordance with established behaviors
The development of business capabilities to harvest and apply big data insights is affecting revenue streams that vary in size and impact from national government contractors (https://ibn.fm/yE6s6) to farmers harvesting their fields (https://ibn.fm/Vqw3t).
Industry e-magazine Datamation reported Sept. 26 on Splunk findings that “organizations with ‘mature data practices’ release twice as many products and increase employee productivity at double the rate of organizations with less mature data practices” (https://ibn.fm/kQuHI).
Big data communications technology innovator FingerMotion (OTCQX: FNGR) is focusing its new platform on China’s insurance market as the nation serving as the home to some 1.4 billion people continues to build a powerful economy on the efforts of factories crucial to the global supply chain.
FingerMotion launched its Big Data Insights division with its flagship database IP Sapientus last year and attracted global insurance behemoth Pacific Life Re-insurance as a client interested in developing a customer base within China.
Sapientus is a stand-out technology that applies publicly available data to clients’ risk forecast needs, generating proprietary matrices that assimilate information on individuals’ behaviors to create context-based outlooks for customers.
It’s a service that’s particularly attractive in China since the country’s credit and insurance risk standards are still in a developmental stage and Sapientus can help provide an alternative means of judging potential liabilities for a corporate client.
During the past year, FingerMotion’s revenues have seen steady growth, largely due to mobile communications services, and the Pacific Life agreement earlier this year positioned it for an even more promising future. CEO Martin Shen said during a corporate update conference call discussing the company’s first-quarter financial results in August that FingerMotion’s top-up business had risen 341 percent and mobile SMS and MMS services had increased by 77 percent, and that “some significant funds” raised after the quarter ended will likely lead to a higher outcome on the balance sheet once the Q2 report is completed.
“Most of the e-commerce companies operate in the red for quite a while before they turn a profit, but our current trajectory has us moving in that profitable direction a bit quicker than maybe other companies have been,” Shen said (https://ibn.fm/OPdc3).
Shen acknowledged that the company has considered eventually focusing its big data platform on other industries beyond insurance and in markets beyond China’s borders, but said the company needs to stay focused on its immediate purpose before expanding its reach.
“We’ve always thought of the ability of the algorithms that we have. It’s not really just to perfect those algorithms but it’s also to have them exportable and replicated in other jurisdictions, in other markets. … But again, that takes time to develop, and we’re really still developing what we’re doing right now in China,” Shen said. “Right now, let’s just build and make sure that our foundation is strong first.”
For more information, visit the company’s website at www.FingerMotion.com.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
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