Ex-Deutsche Bank head trader launches investor app
A new app-based social network that uses gamification concepts to train traders and help them to hone their skills has been launched by a former Deutsche Bank trader.
Called Invstr, the service has been set up by Kerim Derhalli, formerly global head of equity trading at Deutsche Bank. The idea is to use ‘virtual execution’ of trades to help users to learn more about the markets based on the outcomes of their predictions and how the instruments they traded perform against sentiment. By playing the game and building a profile, players develop experience that could be useful for real trading without risking any real money.
The app allows players to benchmark their skills and presents market ‘commentary, research reports and data from 40 exchanges around the world. The app is also designed to be social – as well as free access to news and data, members can chat to each other, form clubs or use topic rooms to share ideas and insights into market performance.
“Many other sectors have been disrupted by technology and the empowerment of consumers – now it is the turn of financial services and the financial markets,” said Derhalli. “Invstr is the new social network for finance, where people can play, learn and share – making finance fun, fair and collaborative. It’s finance made social.”
Live data is available for one US cent per instrument per day, commentary for five cents and research 99 cents. An annual subscription costs $94.99 and includes live market data, news, market commentaries and research reports from Edison Research.
“Invstr’s aggregated crowd-sourced sentiment is unique in the market – this is the ‘glue’ of the app and the community,” added Derhalli. “Invstr brings together a diverse range of high quality market data, news and research sources and user insights to create a one-stop-shop for personalised, easy to navigate financial information.”
Gamification is a popular buzzword at the moment. It is also being taken seriously by banks. In November, Bulgaria’s DSK Bank launched a mobile savings application called DSK Gameo to encourage customers to save by making banking more fun. Built by banking technology vendor Misys, that app was about taking everyday personal banking tasks such as making savings, setting financial goals and turning them into a game involving rewards and incentives to make regular savings. Before that, Barclays launched a single-player money management game back in 2012, while Spain’s BBVA and Malaysia’s CIMB have also experimented via Facebook apps with their own gamification concepts.