Founder | Scripbox
Investments in financial products is still very low in India. Despite the willingness, retail investors lack the financial acumen required to manage a portfolio. According to reports, while some retail investors invest in stocks, their investment is guided by media hype than studied decision. This has resulted in low investment in mutual funds.
ScripBox, an Algorithmic Mutual Fund Investment Manager entered the market to bridge this gap. But the digital world poses its’ own problems for investors. Dozens of financial advisory firms compete for user acquisition
Scripbox wanted to hit the market with a product that required 10-12 3rd party integrations. These included BillDesk - a payment gateway aggregator, a back-office system and a support client delivery system for internal use.
The client wanted the app to encapsulate a robust CRM & Admin panel for better man-agement.
Since the app was financial in nature, security was of paramount importance to client. The client was targeting an untapped market and thus wanted a highly flexible & scalable architecture.
The app should have an inbuilt capability of automatically debiting money from users ap-proved bank account and investing them into select 4 mutual funds. A backend algorithm should balance the investments every month based on fund performance.
For seamless functioning, the app was to encapsulate a document pick up module which would incorporate 3rd party integrations with FedEx, Exotel, DTDC & Mutual Fund AMCs.
The app should integrate a payment gateway system supporting net banking, ECS and NACH payments.