An online mobile brokerage firm has transformed further to improve CX using an open API framework to integrate fintech software.

If you were a NASDAQ-listed provider of online mobile broking services, how would you expand your retail broking operations through digitalization?

Here is a probable checklist:

✓ Offer customers direct access to the Singapore Exhange (SGX) for better customer experience (CX).
✓ Offer lower latency and higher performance in your trading architecture.
✓ Host and co-locate components of the enhanced software in the SGX Data Center so SGX dealers can supervise and manage trades.
✓ Tap on an open API framework to enhance the trading platform, which must complement existing platform services.

Your guess would be correct, too, as shown by what Tiger Brokers announced recently. The firm “aims to improve global Chinese investors’ ability to invest internationally” by lowering commissions, providing a more user-friendly experience and greater access to financial information.

In addition to brokerage, Tiger Brokers offers a number of value-added services that include ESOP management, investment banking, wealth management and investor education.

How the tiger morphed

As the chorus of the song by rock group Survivor roughly goes:

It’s the eye of the tiger
It’s the thrill of the fight
Rising up to the challenge of our rivals
And the last known survivor
Stalks his prey in the night
And he’s watching us all with the Iress… of the Tiger

Aptly, in order to continue improving its services, the firm has tapped on technology to challenge its rivals and be a worthy survivor.

Its CEO, Thiam Choon Eng, has announced: “We are pleased to partner with Iress, which combines international expertise and strong local knowledge with flexibility and ease of integration. This, as well as Iress’ deep knowledge in managing and hosting solutions in a regulated environment, will allow us to focus on improving our platform and delivering the best possible client experience.”

Iress is a technology company providing software to the financial services industry, including trading and market data; financial advice; investment management; mortgages; superannuation; life and pensions; and data intelligence.

Tiger Broker’s firm’s implementation of the new software is expected to support the expansion of retail broking operations by offering direct access to SGX, the Singapore Exchange. The firm’s main trading application will be integrating via Iress’ open API framework. This will be fully hosted and co-located in the SGX Data Centre.

Ultimately, the expansion further complements the firm’s existing offerings to clients, enabling orders to reach the market directly via a low latency and high-performance trading architecture, enabling faster trading with greater reliability. 

According to Iress’ Managing Director (Asia), Jason Hoang: “We’re delighted to partner with Tiger Brokers to enable its expansion in Singapore and facilitate its vision of leveraging technology to make trading simple and easy.”