June 2016 -

June 2016 -

Engineering Mobile Trading Experience [Video Testimonial]

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Angel Broking is one of the leading brokerage houses in India. Demand from their evolved set of customers and their mobile-first strategy made them one of the early adopters of mobile trading in India. Angel Swift, their former mobile trading application was built on Adobe, air based hybrid platform. Swift is a customized white labeled product which lacked user experience and the capability to expand features. This pushed Angel Broking to revamp their mobile trading platform from scratch.

In December 2015, Angel Broking released “Angel Broking App” which was well received by its customers. It has more than 15,000 downloads and was rated at 4.5/5 by its existing users. This platform empowers 350,000+ registered users of Angel Broking keep the market information at their fingertips and enables them to trade on the go.

Market Simplified (MSIL) is happy and proud to be the Mobility Partner of Angel Broking and helping them realize their Mobile Trading vision. Here is Vivek Shukla, Senior Vice President & Head Products sharing his experience working along with MSIL.

For more details, write to us at info@marketsimplified.com

About Angel Broking: Angel Broking is a leading stock broking and wealth management firm in India. It’s a broking house with the largest distribution network, spanning across 900 cities with 8500+ sub-brokers network and 1 Million + clients. It’s a diversified investment destination which offers multiple investment products and services such as equity, derivatives, commodities, currency, life insurance, and mutual funds.

About Market Simplified: Market Simplified is a thought leader in handcrafting custom solutions by continuously innovating and simplifying finance. We have maximized the revenues of industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank and National Stock Exchange of India by providing enhanced and sustained user engagement through Experience Engineering.

Securing Financial Mobility Platform – Part 3

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[The last post in this blog series was on mobility platform security from the users’ perspective. We will now take a deeper look at the same from the device perspective.]

Mobile devices top the list of weakest links that lead to security attacks. More than 25% of all mobile devices encounter threat at least once every month. There is a steep increase in usage of mobile devices, not only among individuals but also in enterprises. This trend further fuelled financial transactions executed via mobile devices. On the other side, mobile malwares have not only increased in number but also in their sophistication and complexity. McAfee labs alone has detected more than 37 million malwares in a period of only 6 months. So, it’s highly critical to address the device related security risks. If not, it might lead to massive data exfiltration and huge financial losses.

The following are the areas to focus on in order to improve mobile device security.

  • Download Source: The only way to prevent malware being installed on the device is by restricting the download sources. The apps should only be allowed to download from trusted sources such as official app stores or an enterprise Mobile App Management server.
  • Publisher Credibility: Though the app is from a trusted source, it’s better to have a check on the credibility of the publisher. Few apps might not be technically malicious, but they are capable of compromising the personal privacy of the users.
  • OS Updates: Majority of the cyber security attacks can be kept in check just by keeping the mobile devices up to date with the latest version of the mobile OS. Enterprises are advised to force mandatory updates via Mobile Device Management(MDM) to protect systems from security risks.
  • Encryption: Encryption scrambles the data stored in the devices making it illegible for the intruder. Most mobile devices have incorporated hardware encryption techniques by using encrypted file system which encrypts the data with a combination of factory assigned key and user’s passcode. Software-based encryption should also be enforced by the applications by encrypting sensitive data before storage.
  • Security Softwares: Apart from the security provided by the mobile OS, It is advisable to additionally install comprehensive security software in the device. These Softwares scan the device and network for any potential threat and take precautionary action to safeguard the data.

To Be Continued…

About Market Simplified: Market Simplified is a thought leader in handcrafting custom solutions by continuously innovating and simplifying finance. We have maximized the revenues of industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank and National Stock Exchange of India by providing enhanced and sustained user engagement through Experience Engineering.

About The Author: Gokoulane Ravi is a foodie, technology enthusiast, and a developer turned marketer with more than 5 years of experience in the space of mobility. When he is not working, he likes to read, write, run and cycle.

Solution Concepts – Peer 2 Peer Social Lending

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Savings accounts are good, but their interest rates are relatively less compared to other investment products. Loans may be boons, but the process involved to get a quick short term loan is tedious. More than 78% of Indian population can’t avail loan from banks as they belong to unorganized sectors. Peer 2 Peer (P2P) lending would help bridge this gap. P2P lending has gained a huge traction in countries with strong financial markets such as China & UK.  Reserve Bank of India (RBI), which is India’s central banking institution, is also keenly studying P2P lending to regulate the same. P2P has too many merits and at the same time involves huge risks as well. These risks can be hedged with the intervention of a bank or have a financial institution act as a broker.

Social Lending, in simple terms, is just lending to your friends and family. Lending to the people you know reduces the risk to a huge extent.  A team of 4, Sumy, Asadulla Sharief, Pavan and Paranthaman of MSIL presented Peer 2 Peer social lending concept in the name of “VRIDHI” for the ICICI Appathon competition.

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This lending platform enables the Lenders to list their offers via the web portal or the mobile app. In the same fashion, the Borrowers can also place a request based on their needs. The system will match the need of the Borrower to the Lender’s offers and prompts the Borrower with the matched offer. The Borrower can also browse for lending offers from the portal. Then, the Borrower selects the offer that benefits him the most and the amount is credited upon the confirmation from the lender. The system will also automatically rate the Lenders and the Borrowers based on their previous transactions. The bank, being a broker in the middle benefits from the service charges and the maintenance charges that are levied from the Lender and the Borrower. The bank can also cross-sell their products that closely match with the requirement of the Borrower. This platform also comes handy for the merchants too. As Lenders, they can sell their products to the customers (Borrowers) and map the payments as easy instalments.

 
 
 

The following are the distinct features of the proposed solution.

  • P2P between account holders of the same bank (Beneficiaries)
  • P2P between Facebook contacts
  • A Web Portal
  • Automated rating of Lenders and Borrowers
  • Cross selling opportunities for merchants

Below is an armature video of the POC demo.

For more info, reach us at sales@marketsimplified.com.

About Market Simplified: Market Simplified is a thought leader in handcrafting custom solutions by continuously innovating and simplifying finance. We have maximized the revenues of industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank and National Stock Exchange of India by providing enhanced and sustained user engagement through Experience Engineering.

About The Author: Gokoulane Ravi is a foodie, technology enthusiast and a developer turned marketer with more than 5 years of experience in the space of mobility. When he is not working, he likes to read, write, run and cycle.

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