Flamingo provides important update on MetLife Asia deal
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
AI company and provider of Cognitive Virtual Assistant technology, Flamingo AI Limited (ASX:FGO) today announced significant news regarding its commercial relationship with MetLife Asia.
In May, FGO announced it was one of eight finalists in MetLife Asia’s start-up accelerator program ‘Collab’, and was awarded the Judge’s Selection Award — thereby providing a contract with Metlife Asia to deliver a trial of the Flamingo solution to one of MetLife Asia’s businesses.
Today the company has announced that it has signed a services agreement with the MetLife Innovation Centre, which outlines a framework for exploring use cases and business development opportunities with MetLife via use of Flamingo’s AI in online direct business.
In return, FGO has been paid a service fee, with the ultimate outcome of the services agreement being to strike a definitive deal for the scope of a paid trial contract with MetLife within the Asia region.
It should be noted here that it is early stages in the contract and investors should seek professional financial advice if considering this stock for their portfolio.
This definitive contract agreement is expected to be finalised in early 2018.
Given the response to FGO’s technology in Australia and the US, it seems likely that the financial services sector in Asia will also find the platform appealing on several levels — particularly given the fact it is both scalable and highly secure technology.
In early November, FGO informed the market it had commenced the post-testing ‘go-live’ phase with major US client, Nationwide Insurance, using its Cognitive Virtual Assistant platform ROSIE.
Source: Flamingo AI
MetLife Asia and Nationwide Insurance are not FGO’s only clients, with the company landing a deal with a major Australian insurance provider earlier in the year. In October, the company made headlines elsewhere when it raised $5 million in just 12 minutes.
For some context, Flamingo AI — formerly Cre8tek Limited — acquired Flamingo Customer Experience Inc. in November 2016. FGO is based in New York and Sydney, operating in the emerging Conversational Commerce space as an enterprise SaaS company.
Last month Finfeed interviewed FGO Founder and CEO, Catriona Wallace, on AI & having conversations with robots.
With 30 staff across two countries, several major clients, evident fund-raising capacity and being somewhat of a media darling, FGO remains under A$50 million market cap ($44.9 million).
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
