iFX EXPO Dubai: Denis Kozlov from Devexperts touches on crypto hype, 24×7 support, and role of solution architects
FinanceFeeds Editor in Chief Nikolai met the VP of Business Development of Devexperts, Denis Kozlov, to catch up on the results of face-to-face client meetings at the iFX Expo Dubai, and the news in the company after one year of the worldwide quarantine
Different companies have different approach to their clients, and here I’ve heard the most client-oriented approach: Denis explained that their future clients don’t even need to have a clear vision of their project. All they need is just an idea or an understanding of their business challenge, and then Devexperts’ solution architects will design a solution that could solve the client’s challenge: “One of the biggest challenges for the client is to formulate what they exactly need. They can start with a general vision about what they need from us. It’s challenging but we have professional people who can extract what the clients need, simply by exchanging emails and after a few phone conversations. We polish their ideas and then we can deliver what they want.”
LP Connectivity, Cryptocurrency, and Reliable Market Data
Speaking about LP connectivity to their platform, Denis explained that the platform is API based and already has set up standard integrations with many LPs. Of course one of the most frequently asked sources are cryptocurrency LPs.
Moving on to the crypto topic, Denis explained, “I’ve spotted a huge interest in cryptocurrency and everything around it at the iFX Dubai. This topic was everywhere – in handouts, on the sidelines of the conference, in private and public talks. Crypto Transformation is happening, and those who still do not believe in it have the last chance to reevaluate it and start transforming their infrastructures to be able to work with this new asset class. As for the crypto platform, we at Devexperts can offer it. We support spot, margin, and anything that the client would want to integrate with including crypto exchanges and crypto custodians as well. If you want to internalize your trading or work with a specific exchange, it can be done. Our USP is that we are a custom development company. If the client needs anything that is not currently in the market, we will get it developed for them.”
“For offshore brokers who are under pressure by regulators and are restricted to work with payment providers, cryptocurrency us a workaround in accepting deposits from their clients. That’s the reason why such brokers are highly interested in digital currency. That’s their chance to stay in the business,” – Denis continued.
“Regarding some notable Forex players, big-name brokers, there’s a trend to become as much independent as possible. They want such a key asset as a trading platform to completely belong to them. They frequently ask us about an opportunity to buy out the source code to continue developing it in-house. This is a much pricy approach than renting a SaaS trading platform, doesn’t include M&S costs, which are already included in the SaaS platform, but it’s the right direction for mature brokers, who want to increase their market valuation and have their own vision for the future growth, independent from 3rd party vendors.”
“Another thing I noticed – brokers of all sizes started to understand the importance and appreciate quality market data. Now they ask not only about LPs integrations but also about market data vendors integrated with our platform”.
24×7 Customer Support
Besides talking about tremendous interest in digital currencies, we came to the conclusion that 24×7 support has never been so vital for the broker as today. Denis admitted that there are very few software providers who can guarantee continuous support to their clients. The past crazy volatile year proved the importance of being on the line with your client, e.g. the clients may need help at any point of time for purposes like server restart or any other issue that they might need to speak to the client.
Watch the video interview to get a full understanding of Devexperts and how they see the current OTC world.