Geojit Financial Services (GFSL), a prominent Indian financial services organization with international operations.
GFSL needed a smart technology platform to bolster their operations. The existing software was decentralized and had several lacunae. Risk management policies differed across branches, resulting in confusion for customers. Lack of data centrality meant that orders placed through browser and mobile channels did not get immediate visibility at the branches. Multi-location servers added to infrastructure and resource costs but did not provide scalability.
How We Helped
GTL developed the FLIP platform- a comprehensive solution suite for trading. FLIP became a product suite with all the features essential for financial institutions and traders to carry on their capital markets transactions. Some of its unique features include:
- Bank-level transactional security – with two-factor authentication, 14-points password policy, and other features to ensure optimum data safety
- Payment gateway to enable easier financial transactions
- Real-time research call based on market behavior and risk monitoring
- Pop-up alerts
- Offline order placing – where calls placed after trading hours are forwarded the next morning
- User-friendly margin system called Credit Request Facility (CRF), which was a path-breaking facility
- Enhanced portfolio management options to help brokers gain greater visibility and better manage client’s share holdings
In November 2010, the web and mobile edition apps were launched, giving GTL the distinction of creating the first mobile trading application in India to place orders on BSE and NSE.
FLIP followed a phased-development approach powered by team work. Gradual inclusion of value-added features ensured that the product was successful. FLIP was soon offered to dealers after receiving NSE’s approvals.
GFSL gained from centralised operations, faster processing capabilities and ability to manage larger volumes. FLIP reduced overall infrastructure costs. A clustered server pattern ensured there would be no system down-time even if individual servers were affected and also provided a blue-print for scalability.