12:43 | 01.08.16 | Articles | exclusive 15916

Wealthbot open-source platform to provide free financial advice

Wealthbot is a free automated platform for financial advice and capital management, which is used by around 50 international companies.

Tigran Azatyan, an Armenian member of the team that developed the platform, told Itel.am that the team is large and international.

“The product targets the Eastern market, with prospect of China and India as well, and we already have offers from there. At present, I am improving the code and developing the advance strategy,” Tigran Azatyan said.

According to him, they solve the problem of process automation for financial advisor companies. They target capital management companies, and IT experts, aiming to create new models.

“We are currently refreshing the platform, perfecting the code, as any system error seriously affects the system’s rating. That is why we use open source principles. Everything is transparent. Any IT expert can join our team. Further steps are secret yet,” Tigran Azatyan noted.

According to him, the platform can be set on any computer, without a web server and database. The process can be competed through VirtualBox in 30 minutes.

“The primary goal of Wealthbot is to create an exceptionally free system support, and not a financial one. It is aimed on improvement of the market, but this program by itself creates several business models which can be used for earning money too. In general, if the primary goal of a startup is financial, you can assume that this startup will no be the next Apple. The main goal of a startup should be improving environment, a country, the world,” Tigran Azatyan stressed.

Narine Daneghyan