Gold-i CEO Tom Higgins elaborates on new Broker360 back office solution

The recent launch of the new comprehensive Broker360 solution which was brought into fruition by Gold-i via a partnership with TradeCore has increased Gold-i’s product range sunstantially, providing a back office solution to brokers which combines a CRM, an automated customer onboarding system and a trader analytics tool.

The product was developed using TradeCore’s underlying BrokerIQ technology, and a close development relationship was maintained during the advent of the Broker360 product, in order that the goal of customizing the product to ensure compatibility with almost every back office requirement that brokers using the MetaTrader 4 platform has.

Today, FinanceFeeds spoke to Tom Higgins, CEO of Gold-i, a technological innovator and leader, in order to take a close look at the rationale and functionality behind the new Broker360 solution, and how it enhances the business of retail FX brokerages.

How did you come up with the Gold-i Broker 360 product?

We were approached by a client who wanted to integrate TradeCore with MT4. I had a look at the product and it was by far the best onboarding and CRM solution I had seen.

I contacted Tradecore to discuss a collaboration and Gold-i Broker 360 was born out of those conversations. It’s a unique offering specifically for Gold-i and adds real value to brokers, helping them to grow their customer base and revenue whilst reducing costs.

We all know that the cost of client acquisition can be high – this product helps brokers to get them on board quicker and to interact with them more effectively using the client segmentation and marketing automation tools.

Like many innovations at Gold-i, our products are client-led. This has proved to be a powerful strategy for us as we are delivering products for which there is a real need in the market.

How did you assess the need for Gold-i Broker 360?

We have a very in-depth understanding of how brokers operate across the world and the tools they need to run efficiently. When you set up or grow a brokerage, you need your clients to be onboarded as quickly as possible. That’s the bit that’s missing from trading systems and a gap which we were looking to fill. Until now, onboarding has generally been a manual process, which is slow and cumbersome – and of course, the longer it takes to onboard a client, the higher the onboarding costs become.

We’re always looking for ways to help brokers to run their operations more effectively. Having an integrated automated onboarding system helps to speed up the process and reduce the onboarding costs per client.

Brokers are increasingly targeting a global market and this means they need to accommodate the payment preferences of clients in different territories. I was impressed by the fact that Broker 360 works with leading global payment providers and also by its compliance capabilities. The product can perform KYC/AML checks in seconds – a huge benefit to brokers worldwide.

And once clients are on board, the product continues to add value. It collates all data – including trading information – into a single hub and so brokers can use the customer analytics to implement appropriate strategies for different clients.

Do you have plans to evolve the product?

This is really just the start. We are working in close partnership with TradeCore and will add functionality as required by clients. We’ll also look at other opportunities to grow our partnership in order to continue to innovate in this space.