Krishna Kartheek Palchuri, Author at

Strategy of Unfolding a Mobile Trading Application

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The pattern of taste of each individual is contrasting and disparate. This is no one-size-fits-all recipe that will satisfy and earn a badge of a universal harmonious palate. The common strategy adopted is the preponderance of affection and antagonism to decide an upshot, a common minimum programme in Indian context. How far will this be successful?  Unfortunately the affection quotient is spontaneous & dynamic; influenced by epigenome, emotional framework consciousness, observations , knowledge, environment, cognitive morale, physical state and plenty of other coerce forces.

In short, the underlying statement being, there is no single universal preference!!

In my short exploration of a preferred mobile trading application within my selected circles, I realised that product owners are equally confused about the end user’s need. They were completely inconclusive in positioning the product flavour; ended up either in making a plethora of distinct products or a heavy weight massive application with an ocean of features. In both the above choices, they force the user to use the application in the way it was structured without providing a flexibility of any choice of usage or what they seek. I couldn’t sense an affinity or belonging in this approach and design.

I will classify the general sentiment, the genuine demand and a traders emotion into three simple entities.

  1. Opportunity
  2. Curiosity
  3. Realisation

Any features in a trading app can be classified into these attributes. The density of these sentiments are proportionate to the nature of investor you are , in general , aggressive/ moderate /conservative ; or the tenor of segment viz, a trader / investor / hybrid.

In this post , I will limit to a few analysis of Opportunity with a few relevant feeds gathered.

Opportunity bucket and its criteria will vary with each person. However in most of the applications that I have navigated was trying to plug all use cases in a single screen/module. A cumbersome tool leads to an opportunity loss and a customer dispossession. How can we make life easy for a user by using the app the way he/she wants ? Only solution is to create a platform to analyse the data effectively, navigate and fulfil a dimension as he/she is in quest for.

(1) My Priority of Data

The analysis of quote screens in multiple apps proves a point that there is quite an uncertainty in the prioritisation of data points. Majority of the applications have a tab structure with the following data classification.

  1. Quote Snapshot: OHLC info, Chart and News
  2. Quote Detail: Detailed Info about Symbol, 52 Week High Low, Average Traded Price, Volume
  3. Market Depth: Top 5 Bid and Ask
  4. Chain: Options/Future Chain

A simple thought , how can a quote screen vary for a trader and an investor?

For an investor why are you displaying a Market Depth or ITM Option Chain in a quote snapshot ?

Why is that , the data points I want to analyse and compare are spread across in four different tabs ?

Possible answers are,

  • The information architecture of a trader , investor or a hybrid persona is not classified and reinforced.
  • I don’t know the type of trader you are.
  • The excuse of the screen real estate restrictions.
  • API / Data limitations.
  • Judgemental error in alignment of the priority of data with end user.

(2) My Usage 

Many of the responses I received from my introspection belongs to the clog in navigation and accessibility of a feature. Complaints were numerous that more than four clicks are required to access a particular entity. In one of the applications, a square off from the Net Positions data was a fixed five clicks away , post login.

A person accustomed to shortcut keys in a desktop are still not comfortable with new generation smart screens. More than 56% of the users are finding the fixed bottom menu navigation not in alignment with their frequently used screens.

(3) Relevant Push Notifications

Push Notifications are “rich” in SPAM and “poor” in content inclination even with contextual targeting. The significance of the information requirement for the user has to be in alignment with the instant intelligent notifications. One of the most sought features in push notification is a “mark as SPAM” option. Unless this changes , the harder the push , will retard its use.

(4) Readable Signal from Charts

Deciphering a MACD Crossover from a chart or a PSAR Reversal is not my ploy. A readable trading signal is what is needed , especially for the newbies. Majority of them queried , “Can we have a descriptive note of the advanced chart with indicators , with possible trends ?”. Maybe Siri or Alexa is required to decipher the chart and trend.

The requirement of advanced charts varies with a professional trader and a market entrant.

(5) It’s my Data Network

Can the User throttle the streaming or categorise it based on his network strength ? I don’t want to have real time streaming on a poor network , instead a 30 sec update is good for me. Can I set my priority of fast feed or a polling based on my situation/need/preference ?

(6) Opportunity Validation ?

I sense an opportunity and I am ready to act, if my inference is validated . Throwing a query to a community or a forum and waiting for information digest is time consuming. Can the chatbot be an Intelligent Advisor rather than a Support Ticketer ?

And the list grows with conflicting needs, cross pollinated data , simplified tools and more demanding new generation users.

The bottom line is how much customisations/ personalisations can we bring into the app , to make the customers feel a sense of belonging to the tool they use. An Open API won’t solve this problem since the customer is not a tech-savvy person who will invest to build an app. The customisations of today are limited to a theme and multi-language which is just a basic premise. On top of this personalisation with high level demographic, contextual and behaviour segmentation is not enough. The minimal demand of the customer is to have flexibility for limited customisation on what to see, make short and quick navigations and tools with more intelligence and interpretable results. Only effort which is required is to have the right ingredients and the place holders for the customers to make their own DIY (Do It Yourself) screens.

Personalisation is a key part of customer experience, with intelligent use of data allowing marketers to create relevant and unique experiences that hold attention for longer (and generate loyalty in the long-run).That being said, this is perhaps more indicative of organisations’ maturity levels when it comes to the skills and structures needed to implement effective personalisation. (credits: EConsultancy)

For the product managers who are constantly in rummage for TD Ameritrade’s successful products has to follow and digest their tagline; “TD Ameritrade: Power to trade in your own terms”. This alone speaks about their user base growth , loyalty and stickiness factor . Next step to the ambitious SuperApp should start from the fundamental practice of flexible customisations , which should be the next target for any new application initiative.

About the author: Prashanth is Chief Operating Officer at Market Simplified and his forte includes delivering innovative business strategies and client-focused solutions to improve margins for SBU- BFSI segment. He is obsessed with movies and cooking and is also a cricket buff.

Interactive session with ‘Walk for Plastic’ founder Mr.Gowtham

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Walk for Plastic is a classic example of how a person with a good cause can have a snowball effect on the society. What started as a single man mission has now spread its wings across the globe and has become a catalyst of change across all age groups. Initially a 3D artist, now renowned for his works in the field of social service, Mr.Gowtham is the man behind making Walk for Plastic a global phenomenon. He is recently felicitated by Radio city as Chennai’s best citizen for 2020.

As an artist, his works majorly revolved around social issues like saving water, abolishing GST on sanitary napkins, preventing food wastage, women safety, etc. Mr.Gowtham visited the Market Simplified office in Chennai and interacted with the employees. He shared his journey in spreading awareness about various social issues and how Walk for Plastic took birth. Gowtham believes that littering is a psychological issue as well as unethical behavior where people do not consider its environmental impact. As a way to combat this problem he began Walk for Plastic which is practiced in over 10 countries and 13 states across the country. With this movement he has changed over 1500 plus minds. He has inspired shopkeepers to install segregated bins to further recycle their plastic across Chennai and had also used the funds gained from this to provide education and cycles to the rag pickers and sanitary workers’ children.

So far Gowtham has recycled over 5 tons of plastic in just 206 days which has led to saving over 80,000 plus sq. feet area from landfills. He has collected over 100kgs of plastic in Chennai for 25 km continuously in a single day and donated the funds acquired to Chennai Corporation for the Welfare of Sanitary Workers. He has also spread awareness through presentations in 13+ colleges and schools which led to over 1500 volunteers.

The session was informative and interactive. Mr.Gowtham ended the session by letting the team know about his further awareness activities and answered to various doubts and questions raised by Market Simplified employees. Team mCube from Market Simplified took the initiative for arranging the talk and were delighted with the response from the team.

About the author: Deepti hails from the Business Development team at Market Simplified and her business card reads Business Development Executive. She is obsessed with wanderlust and never says no for trips and tours. She claims herself a foodie and cooks well too.

 

Another occasion where MSFers got Rajinified

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In this part of the country he is a phenomenon. A 69 year old has done it again what he has been doing for decades now. A wave of magic swept the country again with his new flick hitting the screens on January 9th 2020. Undisputed Super Star of India yet again delivered his magic and by now you must be aware that we are talking about the movie ‘Darbar’ and the man himself ‘Rajini’ sir.

It has been a tradition in Market Simplified over the years to witness the Rajini mania on screens on the day of release. This year is no different. With the HR’s mail confirming the show details, the excitement has reached new highs. Rajini mania gripped the office and that has been the talk of the day.

It was show time and Rajini mesmerised again in the super cop role. It was vintage Rajini all the way and was a stellar performance from the seasoned actor yet again. For the team Market Simplified, it was another team outing which strengthened the bonding and instilled the spirit of the team. Team was thankful to the management and organizers for making it possible and the wait continues for Rajini sir’s next celluloid magic.

About the author: Deepti hails from the Business Development team at Market Simplified and her business card reads Business Development Executive. She is obsessed with wanderlust and never says no for trips and tours. She claims herself a foodie and cooks well too.

Celebrating 15 years of Glory @Market Simplified

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It is not just a journey of 15 years. It is about the people walking alongside, the tenacity of dreams, and the partnerships that made them real.We’re celebrating 15 years of Market Simplified India Limited.

More than a decade of delivering mobile solutions for financial institutions across the globe, it’s always nice to mark special occasions with employees who are the backbone for any organisation. Market Simplified was reminded of that pleasure on 25th September 2019 as we held the first of several celebrations to mark our 15th Anniversary.  Surrounded by our employees and a host of special guests, we hosted a gala event at Taj Fisherman Cove, Chennai.


Not every company successfully competes – let alone leads in their industry for 15 years, so Market Simplified is pleased to take a few moments to celebrate this success.

The event marked wide and avid participation from MSIL family. In the first half, Senior management enlightened us by their speech. Various team building activities took place to get everyone engaged. Numerous games were organised by the HR Department and received utmost engagement from the team. The first event was a dance competition between 4 teams of 25 members each.  Each team was given a music clip which would stop in 2 minutes, and the contestants would freeze in the same position for 2 minutes, the ones who move are out of the competition. There were 3 winners from each team and were awarded with goodies by the senior employees of MSIL for their performance. Many such entertaining events followed prior and post lunch also.

It was a prominent event which played the role of a stimulant to happiness and acted as a stress buster, letting everyone take their minds off work. It was truly an incredible event which will remain in the memories of the employees. Team mentioned their special thanks to Abhilasha (HR) and Rajesh (Operations Manager) for conducting such a successful event.

About the author: Deepti hails from the Business Development team at Market Simplified and her business card reads Business Development Executive. She is obsessed with wanderlust and never says no for trips and tours. She claims herself a foodie and cooks well too.

Kaala Mania @ Market Simplified

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kaala

People worldwide have heard stories about the craze for Rajnikanth’s – sorry, Rajni Sir’s movies. We have encountered posts on social media talking about corporates declaring a holiday whenever a film of Rajni sir releases. For a long time, I dismissed them as myths; and one day we received a mail from HR that opened my eyes. Before I had even read the entire mail, I was grinning from ear to ear – my company had booked First Day, First Show tickets for Rajni Sir’s latest flick, Kaala. No big deal – it’s just how Market Simplified encourages fun @ work. Almost instantaneously the office erupted into a buzz of elation. Kaala was the only point of discussion among our peers for the day.

Despite the huge demand for the Rajini movie tickets, the organizers at MSF had somehow managed to get tickets booked for all of us… along with our families. Because family matters, too.

Finally the show day arrived. With great excitement and anticipation, we hit the theaters.

How can one even put the atmosphere at theatres in words? It was not just a movie, it seemed to be a celebration – a trend all too familiar to anyone who knows the Rajni effect. The moment Rajni sir appeared on the screen, the entire crowd simply went nuts.

It was truly a never seen before experience for us. On behalf of all MSFers, I wish to thank our organizer Rajesh  for an amazing day and for giving us the opportunity to experience the Rajni sir magic.

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 a 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: Krishna Kartheek Palchuri is currently working as a Business Development Executive in Market Simplified India Ltd. He finds his solace on the roads travelling to distant places over his bike. Also a foodie who loves to experiment with the different tastes which new places get to offer him.

5 Exciting Use Cases Of Blockchain In Financial Services

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BlockchainOne of the most trending topics in the Fintech industry is Blockchain. We touched upon a few points that enable a better understanding of the technology and how to use it in best possible ways?

What is blockchain?

Blockchain, is a digital, distributed transaction ledger with identical copies maintained on each of the network’s members’ computers. All parties can review prior entries and record new entries as well. Transactions are classified and grouped into blocks and recorded one by one in a chain of blocks. Cryptography protects links between blocks and their content, so that prior transactions can neither be destroyed nor forged. This technology is decentralized which means there is no central authority in this transaction network. 

According to PWC’s ‘Global FinTech Report 2017’, 77% of financial companies plan to adopt block chain as part of their production system or process by 2020. By identifying this huge potential in blockchain, technology start-ups are investing in this space.


Total Investment in Blockchain Startups

Top 5 Use Cases of Blockchain:

1. Share Trading

Blockchain will have a great impact on share trading. Implementing this technology helps in increasing greater trade accuracy and a shorter settlement process through automation and decentralisation.

2. Cross-Border Payments

The transfer of value has always been a costly and time consuming process. This is particularly true in case of cross-border payments. Blockchain technology reduces the cost and makes the process efficient in a simple way.

3. Smart Contracts

One of the most important applications of this technology is the smart contract. It automatically executes commercial transactions and agreements. It also fulfils the obligations of all parties in a contract – without increasing the expense for the middleman.

4. Loyalty & Rewards

This technology offers many advantages, like traceability of transactions and transparency. This will help financial institutions and insurers to create a more captivating loyalty and rewards program that provide 24/7 performance management and enhances engagement.

5. Identity Management

When identity management is transferred to blockchain, users will be able to choose how to identify them and who will be informed. They still need to register their identity, but after that, they can re-use that identification for other services.

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 a 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: Krishna Kartheek Palchuri is currently working as a Business Development Executive in Market Simplified India Ltd. He finds his solace on the roads travelling to distant places over his bike. Also a foodie who loves to experiment with the different tastes which new places get to offer him.

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