for front-end and a mix of
Python
and
R
for back-end.
Swati noted that managing a distributed team can be challenging because of different time zones. Their development teams, as well as part of the quantitative research team are based in India. To keep things running smoothly, they utilize a lot of technology to ensure that their communication is effective.
“We have regular meetings, and we track a lot on documentation and making sure we are communicating in greater detail so people are up to speed on all different items. Especially between product management, quantitative research teams, and software, it’s a constant loop of communication that we have. We work almost in a 24 hour cycle if you think about it.” – Swati
Business 101 for developers
It’s important for FinTech companies to train their development teams in different areas of wealth management, such as risk analysis, portfolio management, and portfolio construction, and ensure they understand the different types of assets and pricing, data, and how the trading is done. 55ip has a jump on competitors in this regard because of their background. Paul explained that many of 55ip’s developers in their Mumbai office have investment research knowledge, where the CTO, Gautam Sachdev has deep quantitative research experience. Additionally, 55ip has an investment team based in the same office that works directly with the development team so that they can develop software with an investment mindset.
WealthTech Club takeaways
The “Fin” in “FinTech” is not just an afterthought or feature in the case of 55ip—it’s the core of the company and a key differentiator for advisors. They combine quantitative research with software-development to create a synergy of finance and tech, making them a rare gem in the complicated and tumultuous world of FinTech.
Interviewed by Vasyl Soloshchuk, CEO and co-owner at INSART, FinTech & Java engineering company. Vasyl is also the author of WealthTech Club, which conducts research into Fortune and Startup Robo-advisor and Wealth Management companies in terms of the technology ecosystem.