SAMCO Securities launches research and development center in Chennai

CHENNAI: Fintech Startup In Mumbai SAMCO Effects Launched Its Research, Analysis, And Development Center In Chennai On Wednesday. The Invested Rs 20 Crore - Funded Via Internal Accruals - For The Center.

The Primary Objective Of The Research Center Is To Observe The Trading Behavior Of Customers And Help Build Products That Will Automatic Trading And Investment Processes For Them. The Products Will Be Using Machine Learning Algorithm And Artificial Intelligence.

The R&D Center Located On The OMR-IT Expressway Is A Big On The Chennai Pool Of Human Resources, With A Plan To Employ Over 200 Staff Members By Next Year.

Amid the fast pace of digitalisation in the finance world, Jimeet Modi, the founder and CEO of SAMCO Effects , said: “The R&D centre in Chennai is a strategic step towards expanding our presence in all the southern states, besides being cost effective. Chennai is now a great tech-product city which caters to both national and international markets,” said Jimeet Modi, founder and CEO of SAMCO Effects .

“We Did Consider Pune, Hyderabad, Gurgaon And Bengaluru Before Finalizing On Chennai. The Long-term Outlook Of The People In Chennai With Regard To Tech Adaptation, Stability And Tech Culture Attracted Us. We Also Have Plans To Set Up A Customer Service Desk In Chennai For The Southern States, ”said Pratik Adani, CTO.

SAMCO Effects ’ top products are StockNote, a personalised a single-touch trading app for the equity market, and Rank MF, an AI-based MF raking platform which ranks over 5,000 MF schemes on their performance.