April 2017 -

April 2017 -

Thursday Talks – Organic Farming

Posted by | blog | No Comments

Every Thursday 4 pm the whole of Market Simplified gathers around the Open Air Theatre (OAT) for the “Thursday Talks”. It’s a series of individual sessions where employees talk about topics that they are passionate about. It can be technology, travel, health or just about anything else under the sun. Last Thursday we had SakthiKumar talk about Organic Farming. Sakthi, who hails from a farming family, is a Senior Quality Analyst at MSIL during weekdays and an organic farmer by weekends.

ShakthiKumar on Organic Farming

ShakthiKumar on Organic Farming

“Right from day one, we were following only the traditional organic farming techniques and its yield is as good as the modern farming”, he stated proudly as he began the session. When he spoke on farmland conservation, he mentioned that the usage of chemical fertilizer have not only affected the quality of the produce but has also degraded the natural micronutrients in the soil to an alarming extent. He also pointed out that unlike modern farming techniques, organic farming is self-sustaining and cost effective.

SakthiKumar

Sakthi in his farm

As agriculture is near impossible in a city, he encouraged us on having a terrace garden where people can easily grow vegetables and fruits that can be used for day to day consumption. He also gave tips on preparing natural manure and pesticides. He answered all our questions patiently, ensuring that we understood just how easy it would be to go organic. It was an informative session and what made it furthermore exciting is hearing it straight from a farmer who is one among us.

 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: 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.

Machine Learning Vs Artificial Intelligence

Posted by | blog, Uncategorized | No Comments

Machine Learning Vs Artificial Intelligence

In recent days, Machine Learning (ML) has become a buzz word in the financial industry. As mentioned in the previous post, banks in the US have spent around US$17 billion in big data and business analytics solutions where ML is one of the key technologies being used. Artificial Intelligence (AI) is also a related technology that’s gaining traction in the market. But, people often think that both are the same or can be used interchangeably.

 Artificial Intelligence

“The science and engineering of making intelligent machines,” defines John McCarthy, who coined the term Artificial Intelligence (AI). In simple words, AI is the capability of a machine to imitate intelligent human behavior. AI is a broader concept of advanced computer intelligence on par with the smartest human minds ever.

The Google’s self-driving car, IBM Watson that won the Jeopardy and IBM Deep Blue chess machine which defeated the world champion Garry Kasparov are a few known examples of an AI system. Some of the AI systems are rule-based while the others are learning based. An ideal AI system must pass the Turing Test. The Turing test is a test, developed by Alan Turing in 1950, of a machine’s ability to exhibit intelligent behavior equivalent to, or indistinguishable from, that of a human. An ideal AI system must possess the following in order to pass the Turing test.

  • Natural Language Processing to enable it to communicate successfully in English (or some other human language).
  • Knowledge representation to store information provided before or during the interrogation.
  • Automated reasoning to use the stored information to answer questions and to draw new conclusions.
  • Machine learning to adapt to new circumstances and to detect and extrapolate patterns.

A recent research found that the smartest AI System available today is only as intelligent as a four-year-old kid. So, there is a lot to look forward to in this space.

Machine Learning

“It is a type of AI that provides computers with the ability to learn without being explicitly programmed,” defines Arthur Lee Samuel who coined the term Machine Learning (MI). It’s a core subset of AI that enables a system to learn and recognize patterns to make predictions. ML algorithms are designed not only to make predictions on the existing data, but also to continuously learn to optimize the output.

ML techniques are widely used in Image recognition engines, Natural Language Processing (NLP), Fraud detection, Translation and Financial market analysis. Deep Learning is an advanced ML technique that’s gaining traction. It uses Neural Networks (NN) that simulate data storage, processing and decision making similar to that of humans.

Source :  Ian Goodfellow’s Deep Learning

Source: Ian Goodfellow’s Deep Learning

The implementation of the above technologies has transformed many businesses, particularly in the financial sector. Being a thought leader in the financial technology space, Market Simplified has applied these technologies to its Intelligent Virtual Assistant solutions.

 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: 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.

Kotak’s 811 Banking App – Digital Customer On-boarding for the first time in India

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

kotak 811

Of late, there have been lot of talks on how financial institutions need to take steps to engage and retain their customers. Once we have engaged them, how do we get them to stay interested? In other words, how do we make their banking simpler? How do we transform their banking experience to a whole new level? We, at Market Simplified, faced the same challenge when our client ‘Kotak Bank’ approached us stating that they wanted to increase their customer base up to 2 times. This was just about the time demonetization occurred. When the whole nation was struggling to change their 500s and 1000 rupee notes, we were brainstorming for a solution that could turn around things for Kotak.

Customer on-boarding is an important part of account set up process for any bank. On the down side, this was the only area that was not automated since these were important details and humanization was necessary to check for any discrepancies. But on the up side, automation of this process also eliminates any man made errors resulting in fool proof on-boarding of new customers. Customers will find this as a great value addition as they will not have to physically be present at the bank for opening an account. This is all the more important in case of millennial customers as they are looking for convenience banking and very little interaction with brick and mortar bank.

Many banks and financial institutions have come up with various methods to simplify banking for its customers by making mobile apps, bot based banking and so many others. We are among the very few to think of a solution to on-board customers by just using the app that needs no physical presence at the bank and which is also completely paperless. All the customer needs is, an Aadhar and a Pan card to finish his account set up. This will be a major step forward for  customer service and very few banks have actually done this paperless customer on-boarding.

Uday Kotak, Executive Vice Chairman & Managing Director, Kotak Mahindra Bank said,“We have always believed in value creation for our stakeholders. In pursuit of this, we have implemented multiple strategies – both organic and inorganic – thereby establishing our presence across the entire gamut of financial services. We aim to double our customer base in 18 months. 8/11 changed India. 811 aims to take our Prime Minister’s vision forward. It offers access to over 100 features on mobile including completing financial transactions, managing investments, fund transfer, and is an ideal lifestyle app for e-commerce on Flipkart, PVR, Goibibo, etc. 811 is fully integrated with Bharat QR Code, India’s new digital payment system, developed by the Government of India. The app is also Unified Payment Interface (UPI) enabled, for instantly sending and receiving money. Further, 811 customers will enjoy all digital transactions at zero cost, and get a free virtual debit card.”

kotak pan   Kotak Aadhar

I wish to thank my entire team at Market Simplified, for enabling us to achieve this great milestone which only a few other banks have achieved so far. Also, Kotak Bank has been our premiere customer and it has been a pleasure working with them as they constantly give us new challenges to work on. After Kotak 811, Kotak’s customer base has increased to 17 million with close to 500,000 installs and the app also has a 4.5 star rating. To know more about Kotak 811, click here.

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
powered by
Welcome! Let me know how I can help you!