May 2017 -

Hurray! ThinkTrader App in Benzinga Fintech Awards 2017

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market simplifiedWe are celebrating at Market Simplified, as our ThinkTrader application has been nominated as one of the finalists of Benzinga Global Fintech Awards 2017.

Benzinga Awards’ is a contest for technology companies to showcase their most impressive and advanced technological innovations, that are paving way for the future in Financial Services and Capital Markets. They have played a significant role in supporting the growth and development of the finance and technology industry, giving the firms an opportunity to showcase their products and creations to the industry, most importantly to the investor community.

We are justifiably proud as our team has built the ThinkTrader application, keeping in mind – the dramatically changing technology, access to data, new analytical tools and increasingly empowered customers. The app has a 4.3 star rating in Google Play Store and a 4+ rating in App Store with great reviews.

About ThinkMarkets: ThinkMarkets is known for delivering cutting-edge technology in their services for their customers with an ambition to improve the forex trading in the international trading community. They have invested heavily in infrastructure to provide award winning services, with an ever-growing range of markets. ThinkTraders app was launched in 2016.

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

About the author: Girijashankar is a Classical Carnatic Vocalist and teacher who loves to perform. He is also a voracious reader and prefers to read books on crime and mystery. He is currently working as a Business Development Executive in Market Simplified.

Stories of an Ex-Google Engineer, an Entrepreneur and an Aviation Enthusiast

Posted by | blog, Business, Entrepreneurial, Technology | No Comments

Financial Technology companies (Fintechs) face many challenges in meeting the expectations of Financial Institutions (FIs). The former gives the latter an edge in winning over their respective customers by developing products and solutions that help in simplifying finance and its effective management. Therefore, it is no cake walk for Fintechs to thrive in this cut throat world where their survival largely depends on clients (FIs) being happy with the deliverables. Not just that; Fintechs also need to have complete awareness and agility to face the evolving technological changes. They should be super-fast in learning, mastering and implementing the updates in technology for developing new-gen solutions that are in line with the industry standards. Let us take a look into what an ex-Google Engineer, an Entrepreneur and an Aviation Enthusiast have done to achieve great success in the technology front.

The Ex-Google Engineer

Though Fintechs offer new customer products in a highly regulated space, they also have an advantage of working for the institutions that have already passed these regulatory requirements. That’s what probably drew Suresh Ramamurthi, an Ex-Google engineer to enter this arena. But, Ramamurthi did not take the ‘no-bank’ route. This Google veteran spent years looking for a bank before he and his wife purchased the struggling Citizen’s Bank of Weir (CBW) in Kansas City. CBW was in shambles in 2008, just a year before the duo purchased it. The bank was under orders from the Federal Deposit Insurance Corporation (FDIC) to cease operations due to inadequate capital reserves, high levels of unrecoverable loans and internal fraud. The couple not only transformed CBW but also made it a place of real innovation. In this course, Ramamurthi started his own Fintech Company – Yantra Technologies that specializes in software that can be used with the retail banking payment infrastructure. After several years of relentless efforts, Yantra built the next-gen platform that transformed and changed CBW’s old and rusty operations.

The Entrepreneur

N26 is a mobile banking start-up that was backed by PayPal founder, Peter Thiel. Having its headquarters in Berlin, Germany, this was a major step forward to replace brick and mortar banks in the European belt. Just one and half years into its operations, by June 2016, N26 had a user base of more than 200,000 customers in 8 European countries.

The Aviation Enthusiast

Venkat Rangan is the founder and CEO of Market Simplified Inc. Though Venkat is a technology enthusiast, he has great interest and passion for Aviation. He often flies a Cessna Sky Hawk 172. In 2005, Venkat started Market Simplified Inc. at a very humble set up in Mylapore, Chennai, India. Though it was a small setup, Venkat had already started on this journey towards his big dream to revolutionize banking and financial services for end customers through his venture. Later, we had a corporate office at the Times Square Building, NY right opposite NASDAQ.

Venkat Rangan

Venkat Rangan, Founder and CEO, Market Simplified Inc.

Our 5 Mile Journey

Market Simplified

Around 2005, there was a brokerage based in the US – TDAmeritrade, for whom we were trying to help connect to their customers digitally through the mobile platform. Yes, TDAmeritrade was our first customer when digital banking and digital stock trading was merely a dream for everyone. We made this dream a reality! From there, we have come a long way to become the world’s largest digital platform in banking and capital markets space.

We were also the first Fintech Company to adopt cloud based technology and our’s was the first commercial Fintech platform to be hosted on the cloud. Our cloud based mobile trading platform is actively used by 40+ financial institutions and 25+ million retail consumers across 12 countries with a throughput of more than $5 billion trades per day. After all these successful ventures, Amazon has quoted us a case study to sell their Amazon Cloud Services. When we asked Venkat – how he discovered cloud as a very time critical platform, he simply shrugs his shoulders and says, “necessity is the mother of all inventions” and walks off with a smile.

Today, Market Simplified is quietly celebrating 12 years of success with its main operations in Ascendas International Tech Park, Chennai, India along with a corporate office in Schaumburg, IL. We have clients across the globe. We have developed state-of-the-art banking and brokerage applications for many top players in the industry with all of them having excellent reviews in Google Play Store and Apple Store.

Market Simplified Clientele

Our Clientele

Earlier this year, we were also awarded the Deloitte technology fast 500 Award for our consistent growth and constant innovation in the Asia Pacific Region.

Our most recent success story is Kotak 811 which was developed to enable a complete digital customer on-boarding experience where customers can open a bank account within 5 minutes just using the app. This is the first time in India where a complete paperless on-boarding solution has been built and deployed for a bank. This has helped Kotak Mahindra Bank increase its customer base to 17 million since the release of Kotak 811 earlier this year.

Our constant pursuit to innovate and simplify finance has driven us to experiment with the Artificial Intelligence and Machine Learning technologies as well. Our team has built ‘IAN – Intelligent Virtual Assistant’ that helps retail banks engage deeply with consumers through personalized and proactive services over natural voice-based conversations and chat messages. We have also extended this technology to IoT and here is our product demo featuring ‘banking with Alexa’. We are currently working towards building Digi 360 – a complete product suite for Community banks and Credit Unions in USA.

Ramamurthi, Peter and Venkat have all been instrumental in bringing to us – historical moments in the field of technology and innovation. Our learnings and findings from our past experiences are important to us as Fintechs.  There are no better examples than the ones mentioned above. We are still in this pursuit of change and betterment of financial services. As Venkat fondly says, this is our 5 mile journey from Mylapore to Taramani in these 12 years…

“We are witnessing the creative destruction of financial services, rearranging itself around the consumer. Who does this in the most relevant, exciting way using data and digital wins”
market simplified

Ascendas Office

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

About the author: Girijashankar is a Classical Carnatic Vocalist and teacher who loves to perform. He is also a voracious reader and prefers to read books on crime and mystery. He is currently working as a Business Development Executive in Market Simplified.

Congratulations ‘Team Charles Schwab’ for the launch of the first Human-Robo Financial Advisor

Posted by | blog, Business, Technology, Web/Tech | No Comments

congratulations 'team charles schwab'Congratulations ‘Team Charles Schwab’ for achieving your first technological milestone in the Artificial Intelligence segment!

Charles Schwab is a pioneer in providing the best in class trading experience for its customers. This year, Schwab has released its hybrid Intelligent Robotic Advisory coupled with guidance from Certified Financial Professionals (CFP) that has broken all barriers between man and machine.

AI is a new advancement that has come into vogue at a time when all of us feel humanization could be reduced in order to increase accuracy and precision in simple tasks. But, Charles Schwab thought differently and has come up with a human-Robo integration to bring in a personal touch for its customers by not being too archaic at the same time.

Schwab Intelligent Advisory as they call it provides clients with multiple investment options. This includes retirement planning solutions, taking into account, the customers’ financial plans and spending patterns. The solution provides unlimited access to a human advisor via phone or video conference and an investment portfolio of exchange-traded funds managed by computer algorithms. This is the first time humanization has been integrated so seamlessly with AI, such that customers do not feel that they are talking to a programmed machine to take their financial decisions. The investment professionals at Schwab provide support for their customers across all major asset classes. Interestingly we have already developed and designed a complete brokerage suite for OptionsXpress that has a 4 star rating in Google Play Store. To know more about this application, click here.

A highly sophisticated computer algorithm developed by our technical experts takes potential clients’ answers to our Investor Profile Questionnaire about their personal goals, time horizon and risk tolerance—and recommends a suitable portfolio for their accounts. Each portfolio can include up to 20 asset classes to ensure appropriate diversification.”  – Walt Bettinger, CEO, Charles Schwab

Last week, I had written about our Kotak 811’s digital customer on-boarding solution that we developed for them and is offered in India for the first time. The highlight of this solution is that, customers can open their bank accounts just within 5 mins. This is yet another instance where our partner firm has reached a technological mile stone and we are indeed proud of Schwab’s achievement.

About Charles Schwab: Charles Schwab is one of the largest brokerage firms in the United States. The company provides services for individuals and institutions that are investing online. The company offers an electronic trading platform for the purchase and sale of financial securities including common stocks, preferred stocks, futures contracts, exchange-traded funds, options, mutual funds, and fixed income investments. It also provides margin lending, and cash management services. Schwab also provides services through registered investment advisers. To know more about Charles Schwab, visit www.schwab.com or www.optionsxpress.com

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

 About the author: Venkat Rangan is the Founder and CEO of Market Simplified Inc. He is a technology enthusiast. Venkat also has great interest in aviation and loves to read and learn about airplanes. Whenever he gets time, he likes to fly the Cessna Sky Hawk 172. His dream is to fly the Gulf Stream G650. Sometimes it makes us wonder – why he isn’t a pilot or running an airline business…

Gulf stream G650

Gulf stream G650

 

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