63 moons- a brilliant, first-generation enterprise

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Fintech company, 63 moons, is a first-generation enterprise that created new standards and benchmarks on the potential and possibility of financial markets development.

With technology as its core strength, 63 moons have always created new standards in financial innovations.  Despite 63 moons being in the private sector, it has contributed significantly to the growth of public capital markets. 

It is 63 moons that took India to the international level in regard to exchange operations in major segments, such as commodities, currencies, and energy. 

A nationwide study by a leading research institution, Tata Institute of Social Sciences (TISS), described MCX, one of the erstwhile Financial Technologies group companies, in one catch line: "

A Million Jobs and a Million More Opportunities". The group has created millions of new stakeholders in the financial system, giving opportunities to earn, grow and seek a sustainable livelihood.

Agencies, authorities, regulators and other development institutions from various countries used to visit 63 moons to know and learn how it was able to create such a success story of sustainable financial market infrastructure. 

For the kind of contributions that Jignesh Shah has made in the fintech space, the countries were keen to partner with his Group to replicate its success in India, in their respective countries.

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INNOVATION AT ITS BEST

While the world today is increasingly turning towards e-commerce, it was more than a decade ago that 63 moons technologies India Limited, then known as Financial Technologies India Ltd, had taken the Exchange markets by storm with its various tech-innovations.

                                       

63moons introduced some revolutionary products in categories such as Exchange Solutions, Brokerage Solutions, Messaging Solutions, Connectivity Solutions, Consulting Solutions and Banking Risk Solutions.

All the years, the company has transformed the landscape of Indian financial markets in less than a decade and realized its ‘Make in India’ dream by taking Indian innovations to global standards in terms of operations, scale and size.

As a company, 63 moons have always emphasized on the importance of an ecosystem where all stakeholders are able to gain from the markets. A series of ecosystem ventures started by 63 moons to support the exchange system included real-time information (Ticker Plant), payment solutions (Atom) and knowledge management (FTKMC) among others.

It’s 63 moons technologies’ the stellar contribution that has positioned India among the top in the world of financial markets. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment-intensive.

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MANAGING RISK THE RIGHT WAY

63 moons technologies are among the global leaders that offer technology IP (intellectual property) and domain expertise to create and trade on next-generation financial markets, which are transparent and efficient.

The company’s focus has always been on providing technology solutions, building user-friendly platforms and creating digital marketplaces in India and abroad, thereby positioning India in the international marketplaces.

The risk solution division of 63 moons provides highly secure software applications which are categorically designed as a risk management system to the banking financial services and insurance (BFSI) sector in the area of information management.

Risk solutions product suites comprise:

1)      Data collector: A web-based application software that helps regulators with efficient collection of information from downstream regulated entities. This software enables users to make informed and timely decisions.

2)     A web-based risk management application comprises modules such as ADF, Market Risk, Operational Risk, ALM and Credit Risk.

 READ ALSO:-  The fintech that refined Indian financial markets

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The fintech that refined Indian financial markets

63 moons technologies, earlier known as Financial Technologies India Limited, created an extensive ecosystem of institutions to support the financial markets in the form of separate subsidiaries for warehouse and collateral management, real-time information, mobile payment systems, which are all vital for the sustained growth of domestic financial markets.

The company, founded by tech innovator, Mr. Jignesh Shah, has been instrumental in creating and changing the landscape of various market segments and building global size and significance. It is one of the rapidly growing innovative technology and exchange operators from India, which has achieved a unique distinction.

63 moons have revolutionized the way to interact with your clients by introducing ODIN Bot (Build operate transfer). ODIN Bot is an automated chat Bot which can respond to chat based queries which makes it more convenient for the concerned parties. It provides information like news, portfolio holdings, market price, ledger balance, last transactions and it also transacts into multiple systems to set up alerts, notifications, purchase, redeem, etc.

63 moons technologies is a global leader in providing next-generation technology innovations, platform, solutions like ATOM which is Payment Gateway, for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across the industry segments.

Some of the technology benefits that 63 moons offer are developed cost-effective technologies, low-cost real-time information dissemination, and innovative payment solutions.

Under the leadership of Mr. Jignesh Shah, who is now Chairman Emeritus of

63 moons, the company has always focussed on providing technology solutions, building user-friendly platforms, and creating digital marketplaces in India and abroad, thus taking India to the international markets. The company is a world leader in providing next-generation technology ventures, innovations, platforms and solutions for creating digital markets and marketplace that enables transaction efficiencies across industry segments.

The entry of 63 moons into the exchange space brought competition that benefitted the stakeholders enormously. 63 moons put up efficient alternatives that had a very positive impact on growth and productivity. 63 moons technologies developed a strong connect with physical markets and the real economy. It brought about 360-degree financial market development covering equities, bonds, currencies, and commodities with an extensive ecosystem to provide support of information, payment and settlement solutions, knowledge management and financial literacy and education.

READ ALSO:- High-tech institutions of 63 moons

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High-tech institutions of 63 moons

63 moons technologies set up high-tech exchange institutions in leading international financial centers, making India the first exchange industry MNC, in United Arab Emirates, Mauritius, Singapore, Bahrain and Botswana.

 63 moons technologies has been the only private sector company in joint venture with the Government of UAE at the time of setting up of the Dubai Gold and Commodities Exchange, which now enjoys premier position as a leading commodities exchange in the Gulf.

The Group operated exchanges in 10 regulatory regimes across the regions of Asia, Africa and the Middle East.

Extensive ecosystem of institutions to support the financial markets in the form of separate subsidiaries for warehouse and collateral management, real-time information, mobile payment systems, which are all vital for the sustained growth of domestic financial markets.

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Empowering Indian financial markets: 63 moons tech

63 moons technologies developed a strong connect with physical markets and real economy. It brought about 360-degree financial market development covering equities, bonds, currencies and commodities with extensive ecosystem to provide support of information, payment and settlement solutions, knowledge management and financial literacy and education.

63 moons technologies set up high-tech exchange institutions in leading international financial centers, making India the first exchange industry MNC. It created extensive ecosystem of institutions to support the financial markets in the form of separate subsidiaries for warehouse and collateral management, real-time information, mobile payment systems, which are all vital for the sustained growth of domestic financial markets.

Some of the technology products like ODIN have created social benefits and have successfully contributed towards the nation are: Employment opportunities across the country, increased scope for self-employment opportunities, financial access to local communities, increased participation of local talent and expertise. Growth of local entrepreneurship and most importantly benefits flowing into local community.

63 moons revolutionized the way to interact with your clients by introducing ODIN Bot (Build operate transfer). ODIN Bot is an automated chat Bot which can respond to chat based queries which makes it more convenient for the concerned parties. It provides information like news, portfolio holdings, market price, ledger balance, last transactions and it also transacts into multiple systems to setup alerts, notifications, purchase, redeem, etc.

The application is cloud based and it uses technologies like artificial intelligence, natural language processing and machine learning to deliver customer delight.

One of the best feature that it offers is, it saves costs by eliminating dependence on customer care executives as it offers a feature to directly interact with clients through chat based queries.

The second-best feature of this product is its consistency. Chat bot can work consistently and continuously without the need of a break.

63 moons always focused on introducing such efficient and convenient products which definitely helps in empowering the Indian financial market.

Also, in a very short span of time, 63 moons through its inventive planning and innovative product range, emerged as a leading financial market infrastructure group in India. All the exchanges and ecosystem ventures developed by the 63 moons group are India-centric with all operations conducted by Indians in India with the benefits flowing to India. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment intensive.

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63 moons tech created a wave in exchange markets

A close look at the indigenous fintech market and 63 moons technologies find a special place. The company has played a crucial role in defining the Indian financial sector to its current state and position. This fact can be substantiated by the gamut of products the company has rolled out in no time, provided a fillip to innovation in markets and its growth.

One of the finest products that 63 moons has launched in the Indian financial sector is ODIN, a platform that is used by brokers as a trading terminal. Needless to say, the company’s flagship programme has revolutionised the way brokerage services are offered and trading takes place in the Indian markets. So much so that in a short span of time post its launch, ODIN has been able to corner more than 80% of exchange solutions market share and is growing manifold.   

Abiding by company’s efforts to innovate, coupled with unmatched success, ODIN Bot (Build operate transfer) was introduced to the existing platform. The invention was added to disrupt the way people are transacting in futures. Equipped with an automated chat bot that responds to chat-based queries, the platform is even more user-friendly.

 The chat bot can work consistently and continuously without break. The clients can use chat language with short words and unstructured sentences, as if interacting with a human agent. All in all, the feature eliminates users’ dependency on customer care executives, thereby saving time and cost.

Adding on to the features, the cloud-based app uses AI, natural language processing and machine learning to provide a plethora of information such as market news, portfolio holdings, information on transactions to name a few.

What’s more, the platform provides consistency with no down time. It is available across platforms such as Twitter, FB Messenger, Skype or Telegram and even on client’s own business application. The system is self-learning and becomes more enriched over time with the increase in the number of queries. The platform can integrate with multiple sources at the back end via APIs, to provide any sort of business relevant information.

Needless to say, the platform with its new features is creating a massive social impact that has resulted in a massive financial inclusion in the Indian scenario.

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