Master Trader: Deb Mukherjee, Founder and CEO, Wisdom Capital Mukherjee is bullish on AI and is of the view that as AI technology evolves, its applications in fintech are expected to expand further, driving efficiency and enhancing decision-making capabilities

Launched in 2012, Wisdom Capital is an online discount brokerage trading platform which focuses on enhancing user experience, offering competitive pricing, and providing innovative financial products and services. 'It has remained our strength and we plan to continue to use it in attracting clients," says Deb Mukherjee, Founder & CEO, Wisdom Capital.

The company provides free APIs based Algo tools, empowering traders to create customizable trading strategies. Notably, Wisdom Tree Ventures, a Sister Firm has developed Bharat eKYC, an electronic Know Your Customer tool, streamlining the KYC process, which has been awarded as fastest eKYC in India by a NITI Ayog Advisor. Additionally, the company promotes Best ALGO, a web based ALGO product for retailers, and Quant power, a tool enabling traders to develop, backtest, and execute tailored trading strategies. It has been awarded Best Trading Platform in India.

On working in a sector which is largely regulated by the government, Mukherjee says policies keep changing and an enterprise needs to adapt. "The idea is to change but remain within the limits set out by the regulator and achieve excellence. Our ability to adapt is in line with the changing regulations," adds Mukherjee.

So, in this fiercely competitive fintech landscape, what does it take to retain customers. "Our focus remains on enhancing customer experience through technology integration and customer feedback-driven improvements. In this regards we have a products mix which stands out: Visualisation at its best in Quant Power, flawless verification process in Bharat eKYC, best in class trading platform to name a few," notes this Air force veteran.

The brand is profitable, with a focus on revenue diversification, cost optimization, and risk management. "Our goal is sustainable profitability while delivering value to customers and stakeholders. We have clear revenue models and cost optimization strategies in place; all these have helped us a great deal in brand building," Mukherjee highlights. The company has established tie ups with few of the NBFCs in the industry. "With the partnerships that we plan to announce in the near future, we aim to deliver tailored solutions that meet evolving customer needs and preferences."

Mukherjee is bullish on AI and is of the view that as AI technology evolves, its applications in fintech are expected to expand further, driving efficiency and enhancing decision-making capabilities. "At this stage, it is very difficult to draw a line between the capabilities of AI and its role in fraud detection. That is our worry. For instance, in a recent incident at an Amazon warehouse in America, the machines which were not designed to communicate started interacting with each other. Would that prevent fraud to happen or rather foster it? We hope to design our products keeping such events in mind. Our product Quant Power is in line with such AI developments."

Going ahead the company is expanding product offerings, investing in technology infrastructure, and talent acquisition. "There are a number of products in the pipeline that will be revealed in good time; needless to say, they will be with LLM capabilities. Our expansion plans involve geographical diversification and strategic partnerships to tap into new markets and broaden our client base." According to Mukherjee, continued innovation and a focus on financial inclusion and sustainability will shape the future of the fintech landscape. "Bots talking to each other in order to negotiate a deal or a trade is an area we are very curious about."

Factsheet:

Year of Inception: 2012

No. of Employees: 100 Varies across brands

Current Turnover: INR 30 Cr

Amount of Funding Received: Talks underway