Transforming ordinary people into confident investors with AIVODOT
The AIVODOT platform makes finance accessible to everyone. Thanks to an innovative solution, it offers personalised recommendations, democratizing investing and empowering individual investors.
Informations
- Client: Aivodot
- Type of project: Web app
- Services: UX Design, Backend, Frontend, QA
- Year: 2023 - present
Client
Aivodot is a fintech startup that focuses on creating a platform that makes the world of finance accessible to everyone, even without the need for financial education. The founders of Aivodot are experienced portfolio managers with more than 10 years of experience in the industry who want to share their experience with anyone who wants to become a successful investor.
How it started
The problem
Investing is a very broad field with many different approaches, which can be confusing for novice investors and lead to wrong decisions. Most tools provide generic tips and recommendations, which often leads to herd behaviour where investors follow trends, which can have negative consequences.
However, each investor has specific characteristics, beliefs and preferences that should be reflected in the construction of a portfolio that matches their style and risk profile.
The founders of AIVODOT noticed that most tools lacked the necessary calculations and recommendations to effectively guide users. Their goal is to create a solution that simplifies security selection and provides comprehensive and user-friendly investment information. They also recognized the need for an educational resource that would provide serious investors with the necessary knowledge to make informed decisions. Therefore, they decided to make the know-how available to assist them in building and assembling portfolios for their clients.
Product Management
Challenge
How can we help novice investors avoid information overload andtrend-based decision-making to make better investment choices?
The key was to establish rules and logic to best analyze a specific investment style, based on which relevant information would be displayed to investors.
Onboarding
The platform is not for buying financial products, but for providing the best possible recommendations based on a comprehensive view of securities. It is not about financial advice, but about educating users so they can make informed decisions. The platform will never recommend a high risk security without adequate warning.
Personalisation
Our approach within the MVP (Minimum Viable Product) was to create personalised content using rules-based personalisation to show investors relevant information tailored to their specific investment style.
The more the platform gets to know the user, the better recommendations it can provide. Instead of generic information, users receive personalised recommendations tailored to their specific knowledge and preferences.
The algorithm focuses on identifying a specific investment style, based on which it can evaluate how well a chosen security fits a particular investor. We consider the overall match score, based on style, risk, and outlook compatibility.
Solution design
Cooperation with GoBigname
In executing the AIVODOT project, we collaborated with the renowned naming and branding studio GoBigname. Our responsibility was to prepare wireframes, while the GoBigname team handled the creation of the brand and UI design.
Throughout the project, we constantly communicated and collaborated to add and update elements according to the client's requirements. This approach allowed us to respond efficiently and quickly to needs and comments, which contributed significantly to the successful completion of the project and our client's satisfaction.
Technical section
Real-Time Data and Calculations
In the world of investments, real-time processing of large amounts of data is a necessity. Companies regularly report their performance, trading on exchanges happens continuously, and all this information needs to be updated regularly. In addition, there are countless companies offering stocks, funds and ETFs. One of the biggest challenges for the AIVODOT project was to create an efficient system for the regular collection and synchronisation of these constantly changing data.
It can take several minutes to retrieve and update the data, as it involves importing hundreds of thousands of records. This data is then used to calculate personalized ratings for each user.
Real-time score calculation
AIVODOT is not just a passive application to display raw data. We perform personalized assessments of securities for each user in real-time.
To perform these calculations, we use Matlab, which is popular in the analytics world but not commonly used in web applications. However, with the right integration approach, it proved to be an excellent solution. We managed to integrate a Matlab microservices Docker image directly into the application, allowing us to perform complex calculations involving more than 15 different parameters that are dynamically computed.
Maximizing user value
We are committed to providing users with relevant and valuable information. That's why we've tailored the content and data we display to best meet their needs and help them make informed decisions.
The project involved close collaboration with the client, who provided expertise and financial analysis methodology. Our team translated this complex financial logic into a user-friendly digital product, ensuring that the insights were easily usable for users.
IdeaHub
A space where investors can find new investment ideas. By selecting a “theme” that correlates with their investment goals, they can discover relevant investments beyond familiar horizons.
Score visualization
Aivodot insights
Overal match score
"Collaboration with GoodRequest was exceptional for us due to their deep technological knowledge and willingness to share best practices in application development and user experience. The team's strong personal commitment was crucial for the successful implementation of the project."
Collaboration
Next steps
We continue with the product following the MVP philosophy. The priority is acquiring real users and validating functionalities to identify which ones are truly useful for users. It is also important to find the product-market fit and monitor how the target market receives our functionalities, as well as other KPIs, to better understand the needs of our users, optimize functionalities, and achieve long-term market success.