FinTech boost for Saxo Bank’s pioneering SaxoTraderGO platform

Saxo Bank, the multi-asset trading and investment specialist, continues enhancing its pioneering investment in FinTech – the short term used for Financial Technology – following the latest upgrades to its proprietary online platform, SaxoTraderGO, the world’s leading intuitive multi asset platform.

The latest updates include an Android App that supports push notifications for trade and order confirmations and, on the iOS side, a revamped app for iPhones and iPads that now offers Touch ID login. Live client chat will debut this month and be available across desktop, mobile and tablets.

A unique automated investment service called SaxoSelect - fully integrated into SaxoTraderGO - has also been launched in selected countries.

For desktop, SaxoTraderGO now also supports two screen set-ups. Clients can utilise pop-out charts that can be opened in separate browser windows and viewed on a second screen.

“Saxo Bank has been implementing innovative FinTech solutions since before the term Fintech entered the industry vocabulary,” said Christian Hammer, Saxo Bank’s Head of Platforms. “Technology is at the heart of our business and our long term strategy is to focus on disruptive technologies that give independent traders and investors, White Labels and financial institutions more choices to trade and invest.”

The new upgrades follow Saxo Bank opening access to its trading infrastructure to third party developers with the launch of its REST (Representational State Transfer) based Open API (Application Programming Interface) last year. The Open API model allows Saxo Bank’s White Labels and external developers to integrate the bank’s trading and investing capabilities directly into their own applications and systems, or build solutions on top of existing trading and investment infrastructure.

The scope of FinTech development saw global investment in industry-wide FinTech funding spiral to US$13.7 billion in 2014, according to a recent report by CB Insights. With more than 100 leading international financial institutions already deploying Saxo Bank’s trading technologies, Hammer predicted future FinTech growth will come in the wealth and asset management arena.

“When Saxo Bank was founded in the 1990s, trading foreign exchange was costly and inefficient,” he added. “Thanks to FinTech innovation, operations are now much simpler and faster with traders only paying a fraction of what they did two decades ago. Similar disruption will happen soon in the asset management sector, with new technologies replacing traditional, complex and expensive legacy solutions. Saxo Bank has several technology offerings ready to support traditional wealth managers make the transition as well as robo-advisory solutions for individual investors”.