Aimed at attracting and encouraging more young investors to trade in the Indian stock market, Geojit BNP Paribas recently launched ?Flip Social?, one of India?s first stock trading application suite for Facebook.
Called FlipSocial, the application suite which resides in Facebook includes a trading application, investment tutorials and a stock market game that will give players a virtual real time experience of trading in the Indian stock markets .
According to Ashish Chauhan, MD & CEO of BSE; who launched the application along with A P Kurian, Chairman Geojit BNP Paribas and A Balakrishnan, MD, Geojit Technologies; there is large section of youth in India, which is relatively untapped from a stock trading point of view. Through applications like FlipSocial this population which is typically investing in Non Performing Assets on NPAs would get encouraged to also start trading in stock markets.
The application is designed to offer a mix of education besides allowing users to carry out transactions in BSE using their access credentials. The application suite . It was developed by Geojit Technologies Ltd. which is a subsidiary of Geojit BNP Paribas.It was designed based on Facebook’s SDK framework. According to Balakrishnan, taking into account, the security concerns related to social media, the application is designed in a way that the transaction does not go through without the access credentials of the users being authenticated and verified.
Balakrishnan said, ?With Flip Social, Facebook users will now be able to trade on BSE and at the same time be in touch with their friends without leaving their Facebook page. While our stock market game is interesting and educational, I believe that by playing our stock market game, users will be able to trade with confidence in real life too.?
Geojit BNP Paribas, which has over 100,000 likes for its facebook page is expecting a large chunk of followers to also start using this application.
