The Chennai based Market Simplified India Limited is a pioneer in providing cutting edge technology solutions to BFSI companies across the globe. It provides a time tested & highly reliable platform, custom development solutions and innovative fintech products to various companies in the financial and allied sectors.
Founder & Chief Executive Officer, Mr. G Venkat Rangan has exclusively spoken to Outlook sharing his vision for the company. Excerpts of the interview:
Please share a few words about Market Simplified for our readers
Market Simplified is a Chennai based fintech company providing digital acceleration solutions to financial services companies across the globe. In what has been a 16+ years journey, our exclusive financial services industry platform and our ability to build high performance custom solutions has put Market Simplified on the pedestal.
Advertisement
Can you please share about the idea and origin of Market Simplified?
Back then, my friends and I were investing in the stock market and travelling a lot as well. It used to be a challenge because we couldn’t track the market movement while on travel. One day when we landed in Singapore, flying in from Japan, we found ourselves staring at a significant loss. That’s when I realized that something had to change. So, we created stop loss MLPs for all the technical indicators and they were all translated into simple, readable English.
We decided that this has to be available on mobile and that is the only way a person can stay afloat in the market. We went to work on the idea on the very same night that we landed in Singapore and by 9 am the next morning we had the white paper ready based on the idea of a server monitoring the portfolio. We took the whitepaper along for an investor meet that morning. By the afternoon, we were funded. The company’s journey began just after Amazon had launched its cloud. Market Simplified became the first beta testing platforms on the Amazon Cloud. We have US patent for multi assets and multi brokers aggregation platform called UBAC (universal brokerage access channel).
Advertisement
There is no turning back ever since. As our company name reflects, we continuously worked on simplifying the way people can access finance, be it banking or trading or investing or lending or so on and so forth. We launched our customer engagement platform in 2008 and on boarded TD Ameritrade as our first customer. So far we were able to cater to 45+ clients across 4 continents. What started with a team of 10 people in an 1,800 sq. ft office in Chennai now occupies 24,000 sq. ft and employs over 310 people.
Who are your customers and what are your future plans?
The company has been delighting financial services companies across the globe for over 16 years with its award-winning team of experienced consultants and development experts, delivering end-to-end services through our tested platform. Our platform delivers end-to-end services comprising creative software design, business analysis backed by prototyping and data visualisation services, QA and testing activities, development, hosting, support, and maintenance on Amazon cloud.
We provide mobile technologies for financial institutions across the globe that enables access to the financial system with engaging user experience, resulting in informed action. Our clientele is spread across the globe which insulates our company from regional disruptions in a single region, country, or continent.
Our clients include SBI Securities, Bajaj Finserv, Goodwill Commodities, Globe Capital, NSE, Kotak Mahindra Bank, Karur Vysya Bank, City Union Bank, Charles SCHWAB, Phillip Securities, State Street, Ally, FXCM etc. Having served over 45+ clients, an average client retention period of 5+ years speaks volumes about the kind of trust our clients bestow upon us. The company also specializes in building custom solutions for alternate finance companies. We firmly believe that every company is indeed a financial services company and involves multiple touch points where monetary transactions take place on a daily basis. We find a huge potential in this area. For example, a dairy company collects milk from the farmers across the area and has to pay them regularly. This particular aspect of the operations can be dealt with more transparency and efficiency through the intervention of fintech. That’s how we see the future to be.
Advertisement
What is the financial background of the company?
Incorporated in October 2000, the company has an authorized share capital of INR 200 Mn, and its paid-up capital is INR 150 Mn. I am well supported by our eminent leadership team: Prashanth E G (Chief Operations Officer), V Praveen Kumar (Chief Evangelist), and Raghavan S (Chief Experience Officer). The National Stock Exchange, one of the largest stock exchanges in the world, is a strategic investor in the company with along with other retail investors.
Over the years, Market Simplified has successfully evolved into a brand that is synonymous with Financial Innovations and is going from strength to strength in enabling banks, brokerages, fin-techs and organisations of all sorts in re-imagining the role of finance in their growth and transformation initiatives. With an uncluttered promise of ‘Simplifying the Financial Land scape’; Market Simplified is now the go- to option for many of the government, public and private organizations.
Advertisement
What are the product solutions of Market Simplified?
The core strength of Market Simplified has been creating custom solutions for financial services companies to help them accelerate their growth journeys. It involves phases like Solution Engineering, API Integrations, Application Development, Quality Assurance, Infrastructure Development & Tuning, etc. Drawing insights and experience from developing and implementing such complex solutions, we have also created a product line keeping in mind the growing demand for few solutions.
Among Market Simplified products on offer is Shield: an intelligent alerts and notifications engine that helps millions of investors across the globe by protecting their investments every day from volatile market conditions. Shield can process 2,00,000 plus alerts per second to engage customers by triggering alerts and push notifications to all front-end customer touch points.
Advertisement
MyFlow is another important product specially designed for Financial Institutions to provide the best conversational user experience to end customers. The Platform is built with over a decade of experience in implementing Digital Transformation solutions across 45+ financial institutions.
The company’s MSXtream is a reliable, high performance and low latency Real Time Streaming solution. With a benchmark of an average 10 Kbps bandwidth for a Nifty 50 Watch list on Mobile during peak hours, it has helped Brokers reduce the Bandwidth & Hardware costs by up to 75% and help them scale by more than 100% seamlessly.
MSXtend is a simple, fast and reliable trading platform built by Market Simplified. It carries the legacy of solutions built by Market Simplified and lets brokerages offer a pleasant and uncluttered experience to the users, helping them to place trades with ease.
Advertisement
The state-of- the- art MSDatalytics is a platform that gathers data from thousands of sources and presents it to the users in an easy to read and actionable interface. Brokers can integrate this solution from Market Simplified into any of their existing trading application.
The company’s efforts to continually innovate and find solutions has been well recognized by professional bodies for “bringing about digital transformations in financial services and financial markets”.
Over the years, Market Simplified has successfully evolved into a brand that is synonymous with financial innovations and is going from strength to strength in enabling banks, brokerages, and fin-techs.
