Technology Meets the “On-Demand” Trader
Did Traders coin the term “On-Demand”? Possibly. Long before the term became mainstream by millennials, traders have had an “on-demand” need not out of personal convenience, but to expedite their services and create wealth on behalf of their clientele. It requires a logical work-flow and quick decisions, with as little subjectivity and risk as possible – not an easy task. Once the trade is made, it also requires several steps to meet the regulated processing and reconciliation requirements.
Can Technology Help Meet the Trader’s On-Demand Need?
There are several platforms on the market today. Each system has its own unique features and functionality; however, a Trader could end up trying to access a maze of systems and applications – defeating the “on-demand” objective. Or, successful traders might be inclined to build an organic and customized solution to meet their professional needs. This approach is costly, but also, it’s steeped in technological risk – wait no longer than a few months, and a better model will present itself, making the organic solution quickly obsolete.
Alternatively, a smart team of financially adept and technology savvy entrepreneurs might be able to see the Trader’s challenge, and convert that to an opportunity to launch a fully integrated solution with the flexibility to quickly modify the base solution with semi-customized configurations that scale as the business grows. This is where the Chicago based Theorem team seized the moment of opportunity. But this team wasn’t satisfied in solving the basic issue, they decided to go one step farther and integrated artificial intelligence (AI) to support the lightning fast decision-making needs that improve with utilization – significantly reducing the risk.
CultureFit Technology Staffing had the opportunity to interview Paul Geiger the founder of Theorem and CIO, to gain a better understanding of how he built the solutions and team from the ground up. Like most successful entrepreneurs, Paul leveraged years of acquired experience in the technology and financial category. This gave him an eagle’s eye perspective to identify the gaps along with the critical time needed to understand the complex nuances that are unique to the Trading industry. The following summarizes our interview with several key learnings for the technical entrepreneur: