Innovative app paying dividends
Invented by a Thai start-up, StockRadars helps smartphone users wanting to invest in the SET
Investing in the stock market is a trader's full-time job. But these days it has become a hobby for some, especially the generation whose lifestyles are usually driven by smartphones.
StockRadars and partners.
And now individual investors, day traders and stock players are able to deal with trading in a more efficient way, thanks to StockRadars, a mobile application invented by Thai start-up SiamSquared Technologies.
The mobile app, running on both iOS and Android platforms, serves users as a tool. With the app, even those who are not keen on the stock market can gain a simple understanding about trading.
StockRadars functions like a radar that detects stock signals, such as price or volume movement, and displays stock details in the form of a cube. Users can flip it to any side to get details such as signal stock list, latest day closing price and other fundamental data.
The start-up has taken five years to develop StockRadars as a tool to help users analyse and easily comprehend stock pricing.
Like a compass for individual investors, Radars helps users filter stocks. Three key strengths of the app include the way it displays information, "radars" the stock and presents graphs.
Prathana Leelapanang and Max Kortrakul.
Max Kortrakul, CEO and co-founder of SiamSquared Technologies, said that StockRadars was top grossing in the App Store for a long time and it is the mobile app that generated the highest revenue in Thailand in the financial category.
"We took the requirements of users then combined this with know-how from our company and our partner, Stock Tomorrow, to serve users," said the CEO.
StockRadars purchased information from the Stock Exchange of Thailand and analysed the feasibility of profit generation for each stock. The app helps users determine values in the stock market through StockSquare Map, StockSquare Radar, StockSquare Alert and StockSquare Filter.
The regular app is free, but to upgrade to the premium version, it charges users US$170 (about 5,000 baht) per year.
A feature in the app called "Open Radar" is for users who want to share their tips; for example, a stock that continuously offers profit for five years. The tips can be offered to other users free or be sold.
Currently, there are some 130,000 users, and the company expects the number will reach 300,000 by the end of this year. Five to 10% of app users are expected to pay for the premium service. The real-time service will be available in the first quarter of this year.
StockRadars joined the AIS Start-up 2014 programme, won the Thailand ICT Award and became of interest for venture capitalists as it joined the SingTel-Samsung Regional Workshop in Singapore last year. With its innovative methods and business potential, two venture capital companies — Cyber Agent Ventures of Japan and East Ventures of Singapore — agreed to invest in StockRadars to expand the app to the global market.
StockRadars plans to develop more features for investors in more than five countries, namely Singapore, Indonesia, Japan, Hong Kong and Australia. The plan is to make the app available in five languages within two years. It is now in the process of a feasibility study for each country and it will be supported in expanding the market by the local operators of SingTel Group.
Cyber Agent Ventures investment manager Thanachat Tangsriwong noted that with the offices of CyberAgent Ventures in many countries around Asia, this mobile app has good potential to help individual investors.
"Even though the behaviour of people in these countries is diverse, StockRadars fulfils the needs of users in terms of experience and information accuracy, and it covers three pillars: fundamental analysis, technical analysis and timing analysis," Thanachat said.
According to Prathana Leelapanang, senior vice-president for digital products and services at AIS, out of all the categories of mobile applications, games are what users are willing to pay the most for, whether that is for buying items or level upgrades. This is estimated to be just 1-2% of total users.
"People's lifestyles have changed," Prathana said. "Take air ticket bookings, for instance. In the past, passengers relied on a travel agency for ticket reservations but today no one does that. Bookings can be made online. The market landscape has changed."
Prathana added that this generation are the early adopters of such innovative technology. IT and online banking are already popular among the young generation and they are the group of people who are likely to be interested in the StockRadars application.
Besides answering users' requirements, Prathana pointed out that a technology that customers can easily access is also important, and smartphones are as effective as any other method.
Prapan Charoenprawatt, president of Market for Alternative Investment (MAI), noted that stock trading information is often based on rumour or trust. But this app enables investors to study stock trading for themselves. Users have a tool to help them screen stock.
"I do believe that investor behaviour from now will change. Thai developers need to create innovative applications, not just for locals, but also for the foreign market, as it's not easy for start-ups to be chosen by foreign venture capitalists," he said.
He believes there is now a turning point for Thai start-ups, especially tech start-ups, owing to policies for the digital economy and the readiness of developers to draw foreign investors to be more interested in Thailand.