Reasons Why 'Pinger,' About to Enter KOSDAQ, Is Expected to Show Stable Growth

[Asia Economy Reporter Yoo Hyun-seok] Positive prospects are emerging for the fintech company Finger, which is set to be listed on the KOSDAQ market on the 29th.

According to the financial investment industry on the 16th, Finger, established in 2000, has secured numerous core technologies while developing platforms and providing services for building digital financial services.

The company operates three main businesses: platform, solution, and commission businesses. The platform business provides financial non-face-to-face channel platforms to domestic and international financial institutions such as banks and card companies, as well as big tech companies. The solution business develops and supplies technologies that implement digital financial services. Representative solutions include MyData solutions, banking solutions, and RegTech solutions. The commission business supplies paid services through partnerships with financial institutions or directly provides the latest fintech services.

In 2019, consolidated sales reached 60 billion KRW, with an operating profit of 4.7 billion KRW. The cumulative performance up to the third quarter of last year recorded sales of 42.3 billion KRW and an operating profit of 2.8 billion KRW. Sales increased by 13.1% compared to the same period the previous year, and operating profit grew by 25.8%.

The securities industry forecasts steady growth for Finger. Park Jong-sun, a researcher at Eugene Investment & Securities, said, "They supply various digital financial services using platforms and solutions and have built diverse references," adding, "They are conducting business through partnerships not only with the first and second-tier financial sectors but also with the three major telecommunications companies and big tech firms, and platform sales are rapidly increasing due to the expansion of open banking."

The growth of subsidiaries is also expected to be noteworthy. Choi Jong-kyung, a researcher at Heungkuk Securities, emphasized, "Currently, the fintech industry is experiencing high growth centered on MyData and electronic payment services," and added, "It is a positive factor to consider for investment that on the 13th, Finger’s subsidiary, Fintech, received a preliminary license for MyData (personal credit information management business)."