How this Startup is Providing Bespoke Financial Technology Solutions
Nerve Solutions aims at democratizing financial technology in the region by empowering financial services companies to offer cutting edge technology to their end clients. It was founded in August 2018, by Mihir K. Malani in Mumbai.
Nerve Solutions primarily serves Financial Services companies. There are more than 300 active broking or financial services companies in India not to mention companies in the Middle East and South-East Asia. Moreover, internet-based trading & trading via mobile apps now contribute more than 25% of the total trades on NSE.
Nerve Solutions' continues to push the envelope by providing various developer tools and APIs allowing brokers to offer tech-enabled products to their end clients.
Revenue comes from the development of B2B and B2B2C financial technology products which are developed by them in-house.
Nerve Solutions is bootstrapped and profitable as of FY 2019-2020. Most financial services companies focus their energies and resources towards hiring talent in trading and research. The focus is almost never on building good tech teams let alone fintech teams. This results in their dependence on cookie-cutter solutions and generic platforms. These platforms rarely allow for any customizations or spec changes. The end result is lack of innovation and worse still, age-old products being offered to end-users.
Mihir K. Malani, founder of Nerve Solutions says, “While in my last job and having worked in financial tech space for almost 7-8 years, it felt that there was more that I could do by working at the industry level. There was a sense of stagnancy that I felt the industry to be going through. There were ideas and approaches I felt strongly about but couldn't work on them unless I was on my own. This convinced me about starting a venture that focused specifically on technology challenges in capital markets. My team stands apart due to its understanding of financial markets and expertise in technology.
This has allowed us to roll out tech products at breakneck speed, something unheard of in the country. Also, it allows us to roll out bespoke solutions for our clients at a fraction of the cost and time they would have otherwise incurred.”
The products include (Currently live across a number of clients) -
1. n.Prime - Built and tested to perform more than 0.9 million runs per second, it is the most advanced real-time risk management system allowing clients to monitor complex options portfolios in a multi-client, multi-dealer and multi-broker setup.
2. n.Image - Our proprietary low latency API for margin calculation which enables brokers to compute margin requirements of a portfolio inline as well as post-trade using exchange published files.
3. Options Suite - Plug n Play APIs for Options Pricing, Greeks Computation, Payoff Diagrams, Scenario Analysis, Options Chain, etc. to let clients build an end to end Options Trading and Analytics Platform.
Each product in their bouquet is carefully designed to play a part in the financial markets' trading, reporting and risk functions thus covering all aspects of the trading life cycle. In addition to this, Nerve Solutions continues to provide bespoke technology solutions and know-how to large corporates as well as individuals who are looking to develop automated systems but do not have the knowledge to.
They have 15+ active clients most of whom are large financial services companies within the region. Over the next 18 months, they are looking to double this number and expand their client base to the Middle East and South-East Asia.
