Introducing digital acceleration solutions transforming financial services
Market Simplified India Limited, based in Chennai, is a pioneer in providing cutting-edge technology solutions to BFSI companies across the globe. It provides a proven and highly reliable platform, custom development solutions and innovative fintech products to various companies in the financial and related industries.
Founder and CEO, Mr. G Venkat Rangan spoke exclusively to Outlook to share his vision for the company. Excerpts from the interview:
Please share a few words about Market Simplified for our readers
Market Simplified is a Chennai-based financial technology company that provides digital acceleration solutions to financial services companies worldwide. In what has been a journey of over 16 years, our proprietary financial services industry platform and ability to create high-performance custom solutions has put Market Simplified on the pedestal.
Can you please share the idea and origin of the simplified market?
At the time, my friends and I were investing in the stock market and also traveling a lot. Previously, it was a challenge because we couldn’t follow the movement of the market during our travels. One day when we landed in Singapore from Japan, we found ourselves facing a major loss. That’s when I realized something had to change. So we have created MLP stop loss for all technical indicators and they have all been translated into plain and readable English.
We decided it needed to be available on mobile and that’s the only way a person can stay afloat in the market. We went to work on the idea the same evening we landed in Singapore and by 9am the next morning we had the white paper ready based on the idea of a server watching the wallet. We brought the white paper for an investor meeting that morning. In the afternoon, we were financed. The company’s journey began right after Amazon launched its cloud. Market Simplified has become the first beta testing platform on Amazon Cloud. We have a US patent for a multi-asset, multi-broker aggregation platform called UBAC (Universal Brokerage Access Channel).
There has been no turning back since. As our company name suggests, we have continuously worked to simplify the way people can access finance, whether it is banking, trading, investing or lending, etc. We launched our customer engagement platform in 2008 and onboarded TD Ameritrade as our first customer. So far, we have been able to serve over 45 customers on 4 continents. What started with a team of 10 people in an 1,800 square foot office in Chennai now occupies 24,000 square feet and employs over 310 people.
Who are your customers and what are your future projects?
The company has been delighting financial services companies around the world 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 provides end-to-end services including creative software design, business analysis supported by prototyping and data visualization services, QA and testing activities, development, hosting , support and maintenance on the Amazon cloud.
We provide mobile technologies to financial institutions around the world that enable access to the financial system with an engaging user experience, resulting in informed action. Our customer base is spread across the globe, which insulates our business from regional disruptions within 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 over 5 years speaks volumes about the kind of trust our clients place in us. The company also specializes in creating custom solutions for alternative finance companies. We strongly believe that every business is indeed a financial services business and involves multiple touch points where monetary transactions take place on a daily basis. We find enormous potential in this area. For example, a dairy company collects milk from farmers in the area and has to pay them regularly. This particular aspect of operations can be handled with more transparency and efficiency thanks to the intervention of fintech. This is how we see the future.
What is the financial background of the business?
Incorporated in October 2000, the company has an authorized share capital of INR 200 million and its paid-up capital is INR 150 million. I am well supported by our distinguished management team: Prashanth EG (Head of Operations), V Praveen Kumar (Head Evangelist) and Raghavan S (Head of Experience). The National Stock Exchange, one of the largest stock exchanges in the world, is a strategic investor in the company along with other retail investors.
Over the years, Market Simplified has successfully evolved into a brand synonymous with financial innovation and continues to grow from strength to strength in enabling banks, brokerages, fintechs and organizations of all kinds to reimagine the role of finance in their growth. and transformation initiatives. With a stripped-down promise to “simplify the financial landscape”; Market Simplified is now the option of choice for many government, public and private organizations.
What are Market Simplified’s product solutions?
Market Simplified’s core strength has been creating custom solutions for financial services companies to help them accelerate their growth journey. It involves phases such as solution engineering, API integrations, application development, quality assurance, infrastructure development and tuning, and more. Leveraging the knowledge and experience of developing and implementing such complex solutions, we have also created a range of products keeping in mind the growing demand for a few solutions.
Among the Market Simplified products offered are: Shield: an intelligent alerts and notifications engine that helps millions of investors around the world by protecting their investments from volatile market conditions every day. Shield can process over 200,000 alerts per second to engage customers by triggering alerts and push notifications to all front-end customer touchpoints.
My feed 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 implementing digital transformation solutions at over 45 financial institutions.
Of the society MSXstream is a reliable, high-performance, low-latency real-time streaming solution. With a benchmark of 10 Kbps average bandwidth for a Nifty 50 watchlist on mobile during peak hours, it has helped brokers reduce bandwidth and hardware costs by up to 75% and helped to scale more than 100% seamlessly.
MSXtend is a simple, fast and reliable trading platform built by Market Simplified. It carries the legacy of the solutions built by Market Simplified and enables brokers to provide a pleasant and uncluttered experience to users, helping them to easily transact.
State of the art MSDatalytics is a platform that brings together data from thousands of sources and presents it to users in an easy to read and actionable interface. Brokers can integrate this Market Simplified solution into any of their existing trading applications.
The company’s efforts to continuously innovate and find solutions have been well recognized by professional bodies for “driving digital transformations in financial services and financial markets”.
Over the years, Market Simplified has successfully evolved into a brand synonymous with financial innovation and is growing ever stronger in empowering banks, brokerages and fintech.