Technology start-ups Blue Ocean Market Intelligence and HelloSoda India emerged as the winners of the Capital Markets segment of the Fintech Startup Challenge 2017, powered by Angel Broking, India’s top retail-focused broking firm, in association with the Andhra Pradesh Fintech Valley at Vishakhapatnam.
The participating start-ups were invited to take up Angel Broking’s stated challenge of “Real-Time Social Profiling of Customers”. The shortlisted Fintech firms were requested to showcase and demonstrate their solutions at Fintech Spring Conference at AP Fintech Valley.
Out of 30 entries, top 8 challengers presented their solutions for over two days which was scheduled for 9th and 10th March, 2017. A tie between Blue Ocean Market Intelligence and HelloSoda India won Rs 5 lakh cash prize! – on the back of their innovative, out-of-box solutions that thoroughly impressed the jury.
Applauding the winners of the Fintech Start-up Challenge 2017, Mr. Vinay Agrawal, CEO, Angel Broking said, “We are in a digital age where technology has been disrupting everything around our lives. Angel Broking has always been on the forefront for bringing in technological advancements for the betterment of investors. We strongly believe that technology has the power to transform the way we conduct financial transactions.”
He further commented, “We want to work closely with technology start-ups to revolutionize and enhance the experience of retail investors through our robust digital platforms. At the Fintech Valley- Vizag, we came across some really innovative solutions for our challenge statement, and are pleased to announce the winners. We thank the Andhra Pradesh government and KPMG for giving us this opportunity and we look forward to many such platforms to spot disruptive ideas in Fintech.”
While Blue Ocean Market Intelligence presented its solution developed on its proprietary “Digital Persona and Insights Solution” platform, HelloSoda India’s solution was built on its “PROFILE” platform. The winners will also get privilege as a wild-card entry into the challenges to be launched by Fintech Valley in future.
The aim of the challenge for Angel Broking was to assess the solutions and showcase proof of concept with the promising ones. With their problem statement – ‘Real Time Social Profiling of Customers’, Angel Broking is looking for a solution that would enable real time social profiling of new and existing customers on the basis of attributes such as demographics, age-group, income bracket, social data (Facebook, Twitter, LinkedIn, Instagram) and mobile application usage (such as presence on financial applications such as Moneycontrol, Yahoo! Finance) etc.
The solution was required to have a combination of functionalities like a built-in learning model with pre-defined data points customizable as per requirements and the capability to analyze Qualitative/Quantitative data (e.g. psychometric analysis/social data/online data/ non-financial data etc.).
In a bid to make the city of Visakhapatnam the Fintech hub for the country and the world, Andhra Pradesh’s Fintech Valley Vizag conducted the first Fintech innovation challenge for Angel Broking. With financial service firms adapting to the country’s transition to a digital economy with the introduction of debit cards, ATMs and e-commerce, there is an increasing need for them to collaborate with the firms specializing in financial technologies.
The Fintech Startup Challenge is an opportunity for start-ups and individuals to develop a solution to enable real-time social profiling of customers in the era of big data. The event also provided an excellent opportunity for the Fintech firms to showcase their solutions to the leaders in the Indian Financial Industry.
Angel Broking Pvt. Ltd., is today one of the leading Indian stock broking houses, with a focus on retail business and a commitment to provide “real value for money” to its clients. The Angel Broking Group is a member of the BSE, NSE and the country’s two leading commodity exchanges, the NCDEX and MCX.
Angel Broking provides a wide range of personalized wealth management and investment services to its retail clients. These include Stock and Commodity Trading, Portfolio Advisory and Management Services, Investment Advisory Services, Distribution of Mutual Funds, IPOs, Personal Loans and Insurance, as well as E-broking & Depository services – all supported by intensive research and a six sigma-backed Quality Assurance program.
Angel Broking Group provides its value-added services to over a million retail investors through its nationwide network of 132 branches, including 17 regional hubs 9000+ registered sub-brokers/business associates and all India employee strength of 3500+. Angel Broking has one of the largest trading terminal bases (16,308 terminals) in the country, and the largest sub-broker network on the NSE, clocking one of the largest volumes in the industry.
The company’s shareholders include International Finance Corporation (IFC), the private-investment arm of the World Bank.
Source – BWI