The financial services sector is increasingly using internet technologies and expert systems to track stock price patterns and predict market movements and a lot more. With a view to be a leader in the online finance media space and to take its re-branding to the next level, Bloomberg UTV, India’s premiere business news channel today launched a brand new website ‘UTVMONEY.com.’
The new website apart from having an innovative design, will be powered by ‘real time’ stock market data, and will also act as a credibility manager for “tippers”. These together will serve the objective of making UTVMoney.com a platform that best enables informed investment decisions for all users.
Elaborating on the need for the new website Mr. Deepak Lamba, Business Head, Bloomberg UTV said, “In a world where there are just too many tips with no way to tell good from bad, this new website acts as a credibility manager for “celebrity tippers” who make predictions on several TV channels. UTVMoney.com will also allow users to offer regular tips and build their individual reputations in a space which is ruled by a handful.”
The new site will be presented by an algorithmically driven ‘credibility management engine’. It is a piece of software within a complex computer system; a system that delivers live data and capability for user interaction.
Deepak added, “The benefit to the user will be to make a confident choice. Today users are inundated with tips that they get from TV, Radio, Newspapers, Magazines or even from their friends. We feel this is self-defeating as the user now is as clueless as he would be without any recommendation at all. This is the need gap that our new website seeks to fill. The site will keep historical track of the predictions that the tippers make and will use this track record to demonstrate which consultant has been consistently good or bad on which stocks. This central proposition of UTVMoney.com is not adequately serviced by anybody right now. No one actually covers celebrity tippers or puts out real time data, let alone back it up with a full-fledged markets site. In order to build the confidence of the user on the credibility of the site, the process of managing the tippers’ track records will be transparent and verifiable with actual publicly published data.”
Mr. Pankaj Khanna had recently been appointed the Business Development Head for the digital arm of Bloomberg UTV, and this is the first initiative driven by him for the division.
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