Samco Sec launches research centre in Chennai.

Mumbai-based Samco Securities, a fintech start-up that operates in discount broking space, on Wednesday launched its research, analytics and development centre in the city. The 10,000-sq ft centre, built at an investment of ₹20 crore, will employ about 200 engineers in the next 18 months.

Using machine learning and artificial intelligence, Samco will automate investment and trading process of customers. The company’s Rank MF platform ranks about 1,000 mutual funds using proprietary algorithms and big data analysis. The wealth management company currently has 1 lakh customers and looking to add 1 lakh customers every year.

HBL