Next-Generation Digital Trading with Nuvama Stock Broking
Nuvama Wealth and Investment Limited is an Indian technology driven services company that offers financial services like broking services, depository services, margin trading, and distribution of financial products.
As a leading stock broker and distributor, the company boasted
0.3 million
Active client base
1.5 trillion
INR assets across broking accounts
Technologies Used
Business Requirement
As a digital-first company, Nuvama was an early adopter of technology that provided an easy trading experience through its broking website. But the website was built upon legacy technologies that were fast becoming obsolete. The legacy platform posed significant problems like
A slow and inefficient trading experience
Older technologies posed problems like slower web application loading, irresponsive widgets, screen freezing, lack of browser support, and so on. Overall this negatively affected the trading experience significantly
Delayed server response time delaying demat transactions
Legacy servers used heavy-weight processes to handle user transactions. This resulted in heavy consumption of system resources and translated to higher infrastructure costs
Platform inefficiencies holding back future developments
Most of these legacy systems were no longer compatible with the latest software libraries in the market. Consequently, the system could not exploit the capabilities on end-user devices
Security concerns with legacy technologies
Significant concerns had started to emerge around the security limitations of older technologies. Safeguarding the sensitive financial data of customers was a top priority for Nuvama
A cumbersome customer onboarding experience
The lack of inbuilt identity verification hampered customer onboarding. Customers had to go through multiple forms and submission before onboarding on the platform.
Unplanned system downtime
Unpredictable bugs in legacy code caused unplanned system downtime that impacted the business and negatively impacted ROI
Expensive system maintenance
Any addition or upgrades to the existing system was time-consuming and expensive. Further, there was a lack of skilled force in the market that could handle older technologies
With customer demand growing to thousands of financial transactions each day, Nuvama sought to build a modern trading platform that could scale exponentially and integrate with modern digital markets like the internet, desktop, and mobile.
The Solution
Cloudesign, in collaboration with Nuvama, created a world-class trading platform with industry-redefining capabilities like
Instant demat account openings
Quick customer onboarding was crucial to success in today’s competitive scenario. By doing away with lengthy onboarding and offline requirements, a seamless onboarding module that achieved customer onboarding and demat account opening in under 15 mins was created.
Comprehensive transaction solutions
The platform enabled investment in a wide variety of financial services and investments like stocks, mutual funds, derivatives, commodities, currency, debentures, new fund offerings, and more.
Fixed Income
Bonds
Debentures
Corporate FDs
45 EC Bonds
RBI Bonds
Sovereign Gold Bonds
Capital Markets
Equity
Currency
Commodity
Sub-free infinity
Insurance
Commodity
Sub-free infinity
Managed Portfolio
Alternate investment Funds
Portfolio Management Services
Mutual Funds
ETFs
Structured Products
Proprietary financial insights and training
The platform featured a dedicated module that featured proprietary insights and market research from Nuvama. Investors could also benefit from inhouse trainings delivered via the content module.
Real-time financial markets information update
By utilizing market-leading stock market APIs, real-time financial information was fetched from stock exchanges like NSE, NASDAQ, BSE, and others. This enabled consumers to make investing decisions with the most up-to-date information at hand.
Blazing-fast demat transactions
Speed of transactions literally translated to financial gains on a trading platform. By leveraging cloud platforms like Amazon AWS and elastic infrastructures that scaled as per customer demand, blazing-fast demat transactions were enabled while optimizing business costs.
Algorithmic trading for advanced investors
The platform added advanced features like algorithmic trading, using SDKs across programming languages, that enabled seasoned investors to define programmatic buy and sell rules and maximize trade profits. The platform supported multiple programming languages and SDKs to enable effortless trading in the client’s language of choice.
Seamless scaling and on-demand load-balancing
By adopting performance-oriented server architectures and leveraging elastic cloud technologies, the system was optimized to scale on-demand and enable exponential growth.
24*7 platform availability
By adopting cloud infrastructure and moving to a modular microservices-oriented ecosystem, platform availability was ensured round-the-clock. Continuous integration and hot deployment techniques were employed to ensure upgrades and fixes could be applied to the system in the shortest possible time frame.
World-class UX
An appealing and intuitive UX in line with Nuvama’s brand philosophy delivered a superior customer experience and uncluttered access to Nuvama’s multiple financial products.
Ubiquitous access
A single-code base utilized progressive web technologies and responsive layouts to allow application access over a wide variety of platforms like the web, desktop, and mobile.
Business Benefits
A 70% improvement
in the platform response time
Improved
SEBI regulatory compliance
4x increase
in transaction volume
Real-time
financial updates
Zero
platform downtime
Improved
customer acquisition
Enhanced
user acquisition and improved brand perception
Let’s Collaborate
Drop us a line! We are here to answer your questions 24/7.
