- U.S.-based communications technology services provider FingerMotion recently announced a number of milestones in its drive to make its Sapientus big data arm a powerful driver of analytics in China’s billion-strong consumer marketplace
- The company has recently focused development efforts on a ready-to-launch mobile device protection plan similar to AppleCare that the company expects to be competitive in China
- The announcement regarding Sapientus renews expectations that it will evolve beyond its core SMS and mobile top-up services, building on unique partnerships with China’s telecommunication giants and other global corporations
- The Sapientus updates include news that FingerMotion has reached a new agreement with global reinsurance company Pacific Life Re to provide risk-rating capabilities, and that Sapientus’ analytical capabilities have been strengthened
Paying attention to credit score ratings has become a common part of the U.S. consumer’s mindset, particularly during economic downswings when lending interest rates are high and the risks of unemployment are higher (https://ibn.fm/hLNs5).
During recent years, mobile technology services provider FingerMotion (NASDAQ: FNGR) has built credit analyzing prowess on its framework of cell phone minutes top-up servicing and SMS texting-related products, recognizing a world of potential in China’s burgeoning consumer market and FingerMotion recently announced upgrades to its credit data technologies to meet the need.
China is the most populated country in the world, home to about 1 in every 5 of the earth’s inhabitants, and its growing middle-class workforce is driving a huge economic engine. That engine is largely founded in international trade, amounting to about half its GDP. And its share of GDP in relation to global output rose from 2.5 percent to 17.2 percent during the 35 years between 1980 and 2015. In the process, retail sales reach into the trillions of dollars (https://ibn.fm/rLMRs).
But China’s insurance risk and credit risk evaluation infrastructure is still underdeveloped, creating a particular need for big data solutions that can help companies analyze consumer behaviors and create predictive algorithms.
U.S.-based FingerMotion’s establishment of partner networks in China that include telecommunications giants China Unicom and China Mobile have made it attractive to other corporate giants as it has built its big data product Sapientus over the past year to serve as a credit risk analysis technology.
Global life reinsurance company Pacific Life Re was the first to contract with FingerMotion for consumer risk data to serve Pacific Life’s Re-insurance division in China, and more recently a large New York Stock Exchange-listed insurance company partnered with FingerMotion in its drive to break into the Chinese market.
On Aug. 24, FingerMotion announced updates to its Sapientus division, including a new agreement with Pacific Life Re to take that collaboration forward into a new phase, an upgrade of Sapientus’ algorithms with “more elaborative auxiliary data” to strengthen the quality of its analytical results, and the rollout of FingerMotion’s risk-rating API for commercial use.
Sapientus has successfully obtained seven patents from the National Copyright Administration of China (“NCAC”) for its proprietary technologies.
“Our risk rating API platform is the foundational end product built upon collaborative research conducted with our core partners over the course of the past year,” FingerMotion CEO Martin Shen stated (https://ibn.fm/aSVP1). “We look forward to leveraging this significant achievement and look to realize many more innovation possibilities across the commercialization spectrum.”
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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