Bankers build AI app to enable anyone to trade like a pro

Fayze Bouaouid: Co-Founder and CEO of Financial intelligence application Springbox AI. With a Master's of Science in Banking and Finance and nearly two decades in the banking and asset management industries working with such institutions as BGL BNP Paribas, Fayze has spent his career learning every detail of financial markets, banking, and investing. He brings his wealth of asset management knowledge to Springbox AI, in the service of assisting young investors to find success. Fayze is working toward a democratized future of investing.

Kassem Lahham, Co-Founder: Co-Founder of financial intelligence application Springbox AI. His career path spans over more than three decades in the financial industry at institutions such as Deutsche Bank, with a focus on finance, wealth management, legacy planning, and private banking in Germany, Switzerland, the Middle East, and countries of the GCC. Besides other diploma’s in the financial sector he is a certified German Banking teacher in professional education, banking, corporate, finance and securities law. A financial architect with in-depth knowledge and experience, Kassem takes a very goal-oriented approach to pass on advice and assistance. A true polyglot, Kassem is a successful FinTech entrepreneur and a regular speaker at financial conferences and has forged a path that allows him the freedom to pass on his banking and finance knowledge to a new generation of investors.

Russ - Fayze and Kassem, thank you for being here with us today. Business Digest Magazine is looking forward to getting to know your company, Springbox AI .

Russ - You just launched a new app, Springbox AI, congratulations! What exactly does your app offer?

Kassem: Thank you very much, we are extremely excited about the launch, our app can be downloaded on the App Store and Google Play .

Fayze: The purpose of our company is to help individuals make confident decisions while investing in Stocks, Forex, ETFs, and Commodities. Powered by artificial intelligence, we deliver extremely accurate predictions that enable users to make better decisions. Our goal is to prevent investors from losing money when trading. This is done by providing true intelligence and real-time data.

Fayze: Users have an all-in-one dashboard where they can access trading forecasts, live market data, and analytics. By clicking on ‘Markets,’ users can seamlessly toggle between Stocks, Indices, Forex, Commodities, and ETSs, to see a listing of the top gainers and losers in real-time.

We also have a feature called ‘Boost,’ a pop-up that offers a quick fix of the latest investing news. Our exclusive predictions can be accessed through the ‘Live Forecasts’ feature, which provides comprehensive data about forecast strength, when to buy and sell, and more. The app sends notifications in real-time throughout the day, so users always have the most up-to-date forecasts and reminders for the best investments. Of course, users have control over their settings and can adjust their preferences based on how often they want notifications.

Russ - What drove you to create Springbox AI?

Fayze: While working in the financial, banking, and investment industries for many years, we watched as many potential small investors were shut out of trading opportunities by cost-prohibitive brokerages. Additionally, many investors simply cannot afford the kinds of informational tools that brokerages have access to, such as a Bloomberg terminal. We thought it was important that this kind of high-level information and control over investments be available to all people. Unfortunately, 96% of self-traders end up losing money and getting out of trading altogether, either because they fall prey to the myth of easy money, or because they don’t have the information they need to make smart investments.

The idea for Springbox AI arose after seeing how artificial intelligence was being used by big players like Blackrock and Goldman Sachs. Although they were capitalizing on the new technology, there were still drawbacks, because information on the platforms they use is not updated in real-time. 

Kassem: The markets are constantly shifting, and quarterly reports don’t cut it when talking about investments. We wanted to offer consumers something more valuable, to make better investment decisions. So, our solution democratizes investing by offering the best information to individual traders at a reasonable cost.

Fayze: We spent more than 18 months developing Springbox AI’s proprietary technology. Our team worked together with a highly-specialized group of scientists and researchers from the fields of artificial intelligence, mathematics, quantitative trading, and computer science to develop advanced AI algorithms to provide investors real-time notifications.

Russ - There has been a lot of buzz around financial apps, but what makes Springbox AI stand out?

Kassem: There is an incredibly large market of traders, a growing segment that consists of millennials and Generation Z. There are over 10 million users investing with Robinhood, for example, and even more trading with Ameritrade, E$Trade, and others. Every investor, whether a beginner or an expert, can benefit from having valuable artificial intel to power their trade decisions. Overall, Springbox AI can be used by any target market that is interested in trading and gaining an additional income, worldwide.

Fayze: We don’t only provide the general market charts, we offer complete insights -- from when to buy into stocks to when it’s time to sell, in order to collect profits or cut losses. Each of our recommendations also offers a “success probability” rating, so users can assess the risks and make the best decisions for themselves.

Kassem: Unlike our competitors, each of our recommendations is fully transparent and easy to understand. Another important point to note is that we do not profit off user investments, we just want them to be successful.

Russ - With everything going on, why start a new business now? 

Kassem: Once COVID hit, we realized that we had to expedite the process so we could get to market as soon as possible and help traders that need support more than ever. By launching now, we are able to provide immediate support to those struggling during this pandemic-induced economic crisis. Springbox AI offers insights that can help create a new means of income for so many, helping change lives during a time that is filled with such turmoil.

Fayze: The number of people trading has increased significantly during the pandemic, as many are struggling with their financial situations and are looking for additional income. The economy is in flux, and many traders (experienced or not) do not have proper knowledge of the investment scene. During the 1st quarter of 2020, the Charles Schwab Corporation reported “ a 217% year-over-year increase in daily average trades for March alone ,” -- trading is more relevant than ever. 

Kassem: While it’s exciting that the stock market is becoming more accessible to the mainstream, many have fallen for “get-rich-quick” schemes and the promise of easy money . Springbox AI is stepping in to fill the knowledge gap so that people have access to data-driven, real-time insights to help them make informed decisions about their trades. And ultimately, win the trading game.

Russ - You mention that during the pandemic, many people are falling for get-rich-quick schemes. How can people become more financially savvy? 

Fayze: There’s an old saying, “There’s no such thing as a free lunch.” Remember this whenever you get information about an offer that seems “too good to be true.” It probably is. The first thing people need to do is to educate themselves about their financial investments. Learn the terminology and the differences between types of assets. Be sure to do due diligence with regard to the companies or funds in which you want to invest. An educated investor is better equipped to make smart financial moves. 

Kassem: There are so many educational financial tools people can turn to -- many of which are free or affordable. Read the financial sections of newspapers. Subscribe to free newsletters from reputable institutions and businesses. Watch webinars. Listen to podcasts. On social media, you’ll even find “ask me anything” sessions where companies feature industry experts. And research the background of the people you’re getting advice from -- not every Instagram influencer dishing out financial advice has a background in the industry.

Russ - Thank you for taking the time to have this interview with me. On the behalf of Business Digest Magazine, we wish you nothing but continued success.

Russ Turner

Director at Business Digest Magazine

Director at Academy of Business Digest