FingerMotion, Inc. (NASDAQ:FNGR) (the "Company" or "FingerMotion"), a mobile data, services, and big data analytics company is pleased to report several key milestones in relation to its subsidiary, Finger Motion Financial Company Limited's big data analytics arm branded "Sapientus".
Over the past year, we have deepened the Company's determined commitment toward working with partners in elucidating consumer insights via big data algorithm and applying behavioral analytics to the fintech sector in sparking new innovations & commercial applications. The following updates capture the most recent accomplishments and milestones:
- Strengthening partnership network - The Company has signed a new agreement to advance to the next phase of collaboration with Pacific Life Re in Asia.
- Upgrade of analytic engine - As part of its ongoing model development effort, the Company has enriched its algorithms with more elaborative auxiliary data, which, in conjunction with its existing information system and records, will lend transformational support and capabilities to its analytics, empowering more precise and robust results that are suited for commercial applications. The collaborative research studies with leading industry partners have enhanced and validated the Company's analytic framework and insurance risk rating services platform, which is now ready for deployment to the wide insurance and financial services industry.
- API rollout for market adoption - The Company's risk rating services platform is built on an application programming interface (API) structure that is integrated with its partners' core systems, linked to an underlying data repertoire and analytic framework that facilitates real-time rating feedback to insurance companies. Regular API upgrades and enhancements enable greater flexibility in tightening service integration and broadening commercial opportunities with the Company's partners.
- Official patent recognition - Over the past two years, Sapientus has been granted seven patents by the National Copyright Administration of China (NCAC) for the abovementioned model algorithms and technological infrastructure as well as insurance-oriented applications, for example, Risk Rating API Design, Insurance Risk Assessment Platform and Insurance Fraud Detection System (two other applications are still pending approval). NCAC is the governing body for patent and copyright verification and approval in China. The Company's successful applications for these patents validates Sapientus' continuing innovation in data science and its application in the field of insurance, finance and beyond, demonstrating the Company's active participation and contributions to the industry.
"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," said Martin Shen, CEO of FingerMotion. "We look forward to leveraging this significant achievement and look to realize many more innovation possibilities across the commercialization spectrum."