CAL to go regional with digital capital market products
Capital Alliance PLC’s digital innovation arm, Finnovation has major plans to venture into the region with its digital capital market products, top officials say.
At the recent launch of its latest innovation, CALiper, a state-of-the-art digital app that facilitates online bond trading with the click of a button, Ajith Fernando, Managing Director Capital Alliance Group told the Business Times that initially their aim is to go to frontier market countries.
The company, which has been serving institutional clients aims to go into the retail segment by promoting digital products, he added.
The bond market, hitherto ‘exclusive’, won’t be any more with their latest product, CALiper as it gives direct access to the closed bond market, he said. The app offers an easy-to-use, streamlined trading process that enables investors of all experience levels to manage their own portfolios and empower investors to trade and grow their wealth on their own terms.
“There’re more people becoming digitally aware,” Mr. Fernando said noting that this is a main reason why CAL’s software development department was spun off as a separate company some three years ago.
CALiper has garnered close to 100 clients in in just six months.
This app enables faster response times and up-to-date access to a personal portfolio, and provides all of the tolls needed to measure, trade, monitor and observe government securities, all in real-time and all in one place, Gihan Hemachandra, Managing Director, Capital Alliance Ltd stated. “Speed, accuracy and real-time responses are the hallmarks of CALiper, and armed with this tool, investors will be able to trade and monitor their government securities portfolios with greater efficiency and ease. There is an immense need for transparency in the bond market, and CALiper will help to deliver that along with greater accessibility to investors.
Typically, the bond market, unlike the stock market, is structured as a wholesale market and a select few enjoy the benefits and returns from trading. With CALiper however, more investors will be able to independently trade bonds lie, and benefit directly from the returns of trading,” he added.
Uthpala Dassanayake, Head of Software, Finnovation added, “CALiper has been developed to offer traders and investors of all experience levels the opportunity to make money on their own terms. The application was developed by our team from scratch and fuses the latest Fintech solutions with a seamless design to offer a simple, fast and real-time user experience. This technology fills an important void in the financial services industry and will help to demystify trading and encourage more individuals to confidently manage their portfolios, make trades on a more regular basis and strategically grow their wealth.”