By Shannon Jayawardena
Capital Alliance (CAL) has revolutionised the bond market with the launch of CALiper, the country’s first online trading app.
From left: Finnovation Head of Software Uthpala Dassanayake, CAL Group CEO Ajith Fernando, CAL Managing Director Gihan Hemachandra and CAL Information and Technology Head Tharinda Kulasinghe - Pic by Githika Talukdar
The innovative digital app facilitates online bond trading by giving clients total transparency of the market while offering an easy-to-use, streamlined trading process that enables them to manage and examine their own accounts.
The ‘dash in, dashboard, dash out’ proposition plays an important role for the investors as it acts as an informative tool which enables them to trade bonds and increase their wealth through their own terms and decisions.
The app further provides all the necessary insights needed to measure trade, monitor and observe government securities and gives customers the opportunity to sign up online as investors or stock marketers with a completely free registration. Over 100 accounts have been set up digitally during the course of six months.
CAL Managing Director Gihan Hemachandra said: “We are super excited to announce the launch of this new product which is called CALiper. Bond news is a topic that everyone talks about these days so this is probably the other side of it. A lot of people say that the bond market is for a very exclusive club. Therefore what we’re trying to do is distribute live information to the public.”
“There is an immense need for transparency in the bond market and CALiper will help to deliver that along with greater accessibility to its investors. Typically the bond market, unlike the stock market, is structured as a wholesale market. With the app, investors will be able to independently trade bonds live and benefit directly from the returns of trading,” he added. The app also gives its clients the benefits of accessing the site through any device from any part of the world, gives live market rates within a minimum time lag, analyses customers’ portfolios and gives an overall picture of a transparent market.
CAL Group CEO Ajith Fernando stated: “At present the world is moving along a digital road and more and more people are becoming digitally aware, especially with smart phone penetration. More than keeping up with this trend, we’re actually advancing forward and pushing it ahead.”
CALiper, founded by Finnovation, a subsidiary of CAL, was awarded a bronze award under the category ‘Financial Industry Application’ at the recently held National Best Quality ICT Awards.
“The application was developed by our team from scratch and fuses the latest Fintech solutions with a seamless design to offer a simple, fast and real-time user experience. This award-winning technology fills an important void in the financial services industry and will help to demystify trading and encourage more individuals to confidently manage their portfolios,” said Finnovation Head of Software Uthpala Dassanayake.
Alongside the launch of CALiper, CAL also launched Sri Lanka’s first digital account registration at the Colombo Stock Exchange, CAL Connect and the CAL Oracle Sales Clouds, which all contribute towards the company’s goal to be future-ready and to evolve in an ever-changing world.
CAL Group CEO Ajith Fernando, CAL Managing Director Gihan Hemachandra, Finnovation Head of Software Uthpala Dassanayake and CAL Information and Technology Head Tharinda Kulasinghe were all present at the press conference.