By @Connectvj –Interview with Mr. Gagandeep Singh Banga,CEO at RoboAlerts
As the world moves towards advanced technological intervention at every aspect of our lives, RoboAlerts is a technological disruption for day traders on the stock, commodity and foreign currency markets.
The mobile phone is the first go-to device for any consumer today to achieve agility and foresightedness.
Mobile applications have enabled us to consume data and make decisions on a real-time basis; RoboAlerts brings this ideology for traders on the markets. The product looks to plug in existing investor journey gaps to enable traders to get real-time notifications, just at the desired time, to take real-time decisions.
Today, the new age investor or trader wants to be updated with market trends and the rising/falling prices of the markets, and know about it the very second it happens. This demand for a new way of making intelligent trading decisions exists and the RoboAlerts product looks to fill the gap.
Through the use of instant voice updates and real-time information on the app, traders will spend far lesser time monitoring equities or stock.
Also, Roboalerts facilitates the users with well-researched trading calls generated by the qualified team of technical analysts from one of the most credible sources in the industry, viz. SMC Global Securities Ltd.
Explain your professional background briefly what lead you to build the company and how did you come up with the idea?
It would be fair to say that my professional experience and challenges directly led us to envision the RoboAlerts app.
The ideation of RoboAlerts evolved with the desire to reduce the time it took for stocks and commodity traders to monitor the stock market and help them make intelligent decisions.
Despite monitoring for hours through all channels available, the traders still remained unsuccessful in spotting the movements at right time and encashing the available opportunities.
It started with experiencing the challenge, and soon enough we had realised the opportunity to bridge this liability without missing any opportunity, which the trader community saw as an inefficiency.
Back in the day as a floor trader, I used to personally page my clients of even the slightest movements in the stock market. In those times pagers were the best communication mode available and my clients appreciated those nudges.
In present times, with the aid of a self-acting and computerised system, the benefits of automation can prove to be far more efficient for stock traders, who traditionally glue themselves to screens all day. Continuous monitoring is tedious, yet is equally necessary.
RoboAlerts focuses on doing just this, and in turn, saving the precious time spent on continuous monitoring by traditional investors and traders. Our focus is to provide traders with credible insights to give a balanced set of information to enable a better trading experience.
What difference are you creating for your customers?
We endeavour to pioneer a technology in India as a first-of-its-kind category for trading. As advocates of automation, we aspire to simplify complex data for our users.
The biggest challenge in simplifying an investor journey is that the profession itself is highly complex. Our focus from day one has been on creating a great user experience and ensuring the app is user-friendly.
We cannot automate at the cost of low adaptability and penetration, so we ensured that traders would find the app user-friendly and can quickly start implementing the same in their day-to-day professional lives.
Another major differentiator is the ability of the application to receive voice alerts on the run. This will allow consumers to customise ticker symbols and receive notifications towards a specific stock, commodity or currency; and grasp the exact info by not even picking the phone and reading the info.
Currently, there is no application in the market that delivers credible insights along with real-time updates on every UP and DOWN of stocks and commodities.
In a world where transparency and credibility of research services are always in a doubt by the users, the supplementary research service by SMC is an extremely credible and transparent add-on feature.
Roboalerts is enabling the user to maintain discipline while taking trading decisions. Such discipline is attained by enabling the user to abstain from continuous monitoring which tires the brain, resulting in lost discipline by the trader.
This fact is also well educated by the neuropsychiatric Dr. Rajesh Nagpal’s article and interview placed at the website www.roboalerts.in
Tell us about ROBOALERTS app and how is it changing the conventional way?
The conventional methods of monitoring the markets are – calling the dealers and enquiring prices every time and again, watching business channels to keep track of prices, watching some mobile application and looking at it, maybe 100 times a day; and despite all this, traders are missing on opportunities almost every day.
RoboAlerts team aims to deliver the solution to address the problem of traders to continuously track the markets (on their behalf) by providing them with an automated solution. As stated earlier, the complexities of the stock market demand swift and real-time updates, which our team is equipped to deliver through the platform.
It is changing the scenario for users in terms of enabling them to trade just at the right time with accuracy and remaining thoroughly updated in real time.
The application specially caters to the intraday and active traders, who buy and sell stocks within a day. Hence, the goal is to diminish the gap between the market movements and traders.
What challenges do you face within the market and the company?
The biggest challenge in creating an innovation in this space is the complexity and dynamism of the market. Many applications in the market have been observed to be repetitive and duplicating existing information.
The RoboAlerts helps save time for traders to focus more time on timing the market to the best and making swift trading decisions rather than spending the time to abreast with market changes.
The real challenge though is the race to perfect automation in our practice.
For us, we believe a seamless user experience is the most important aspect of achieving that.
What financing method did you choose to launch your company?
Roboalerts has been funded by a mix of own funding (minor) and major funding being provided by a Delhi based established business house.
How much has the company changed since you started off?
The idea of initiating a remarkable innovation in the trading industry was a tricky proposition. It was a task to segregate the audience based on demographics and understand their insights to develop a smart, easy-to-adopt application.
We have witnessed a great reception of the app by our users, and this was validation for us to keep going and aspire to improve the customer experience of the app.
We took continuous feedback from our users to ensure we can keep on perfecting the experience. In a way, we have been married to our instincts and are constantly vying to eliminate the next big challenge.
The stability of application, correct estimates of scalability of the application, ideal targeting of audience, extremely positive reviews from the users, self-stimulated subscriptions by the users, autonomous monthly renewals of those subscriptions, encouraging number of app (being) shared are some of milestones/achievements that we’ve attained since we started off.
How do you see your app evolving among the stocks and commodities traders in future?
The application withholds a series of new revelations. We aim to make the traders as comfortable as possible with the utilization and usage of the application, hence creating a market with credible insights, user profiled and enable real-time tracking and monitoring of the markets.
What is Roboalerts’ ultimate vision?
Initially, knowledge was measured by years of human experience. Today, automation is the new orange and almost every business is automated, right from manufacturing to distribution and in many cases, consumption.
A man has married technology to its practices, and RoboAlerts abides by this principle to grow with technology advancements.
Innovation is crucial to the well-being of the stock and commodity trading industry. Where ever we see an opportunity, we embrace the challenge to come up with a solution.
Gradually, computers and software are introduced to reduce paperwork, increase efficiency, and archive data onto so-called ‘clouds’ for future analysis. We envision the same as we keep improving the product in line with our users’ wants and demands.
What advice would you like to give the entrepreneurs who are planning to launch their own venture?
Experience matters. Incorporating your own values and challenges into something that you believe can change the world should be encouraged.
The idea behind initiating RoboAlerts was a result of curiosity nurtured with an endeavour to promote productivity.
An advice that I would urge every growing entrepreneur would be to remember their mistakes and understand that great ideas are hidden in your experience and challenges.
As does the saying go, ‘The one who learns from his mistakes, is an intelligent person. And the one who learns from the mistakes of others is a genius.’ Also, they should get their product validated by conducting a successful pilot run, prior to attaining scales.
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