- FingerMotion’s focus has been on Sapientus, a major milestone for the company; delivering data-enabled insurance solutions that employ behavioral insights to change the existing service options
- Sapientus uses algorithms that supply insurers with actionable intel and facilitate efficient and effective delivery while increasing the ability to calculate risk and create more innovative products
- The company’s Nasdaq application has been submitted; FingerMotion has brought in third-party advisors to assist legal counsel in responding in a timely manner to any examiner questions
- SEC filings show that FingerMotion has allocated research and development funding to rich communications services, and it is expected that the company will be tapping into that industry’s growth potential
In a recent corporate update call (https://nnw.fm/GJPx2), tech company FingerMotion (OTCQX: FNGR) has shown increasing trends, especially in reports filed with the SEC. As an evolving technological company with core competencies in SMS/MMS services, mobile payment and recharge solutions, and big data insights, these trends support the company’s increasing focus on research and development, bolstering the commitment to developing high-demand applications for both consumers and businesses. Most of FingerMotion’s expenditures during 2021 have been a result of its youngest operational division, Sapientus.
Sapientus represents a major milestone for the company. The division allows for the delivery of data-enabled insurance solutions employing behavioral insights to augment existing service options. The service offerings increase the insurers’ ability to calculate risk and create more innovative products. Sapientus uses advanced algorithms that supply more actionable intel and facilitate efficient and effective delivery. All available data is integrated to create proprietary risk matrices, which are then used in the final product offering.
Sapientus has generated $33,077 in revenue during Q4 2021 and $98,715 in Q1 2022, and the quarter-over-quarter increase clearly shows the division’s growing success (https://nnw.fm/b4U7O). “In the past few years, we’ve had our inhouse team of actuaries and data scientists, who really know the ins and outs of the insurance industry, and what they’ve been doing is they’ve been deciphering information from all these different sources and putting them in the risk metrics that could provide those fresh insights and intelligence for the insurance field,” CEO Martin Shen said in the August corporate update (https://nnw.fm/GJPx2).
The company’s current Nasdaq application was also discussed in the corporate update. An initial application for the Nasdaq listing has been submitted, and the first examiner letter has been received. FingerMotion has since hired private advisors and, with the assistance of its legal counsel, responded quickly to the examiner’s initial letter. While the process is well on its way to potential approval, FingerMotion acknowledges there is still a substantial amount of ground to cover before approval is granted. The company is remaining optimistic but realistic in the endeavor.
In the August update, Mr. Shen shared a three-stage development strategy for FingerMotion:
- Stage 1
- Partner with reinsurers
- Revenue Sources: fees-for-services
- Stage 2
- Expand analytics and risk metrics
- Revenue Sources: fees-for-services; commissions; profit shares
- Stage 3
- Integrate partners’ business into FingerMotion’s ecosystem
- Revenue Sources: fees-for-services; commissions; profit shares
FingerMotion’s additional focus is also on the research and development of rich communications services (“RCS”). RCS is an emerging technology that revolutionizes text-based messaging by eliminating constraints commonly associated with short text messaging. Extended capabilities of RCS include file sharing, video calling, group chat, and more native services without the use of third-party applications. As a market, RCS is expected to grow from $5.2 billion in 2020 to $11.7 billion by 2025, registering a CAGR of 17.6% during the forecast period (https://nnw.fm/V50XO). Having already allocated research and development funding to this sector (per SEC filings), FingerMotion is poised to tap into this particular growth opportunity with a dedicated RCS division.
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://nnw.fm/FNGR
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