An Exclusive Interview with Tomer Baumel, CEO and Founder at Solitics

Founded in 2013 by visionary data experts, Solitics​​ is a cutting edge data management & real-time marketing automation platform that enables B2C brands to create the most personal experience for their customers in real-time.

Fazzaco recently had an opportunity to interview Tomer Baumel, CEO and Founder at Solitics, who spoke on the importance of automation in data processing.  

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Fazzaco: Thanks for joining us here at Fazzaco! Could you please introduce a bit more about Solitics to our readers?

Tomer: Happy to be here!

Solitics, established in 2013, enables the best marketers to be brilliant, giving them the ability to use and analyze their data effectively to drive deeper, more meaningful customer engagement. 
What it means in practice is that marketers can realize exceptional marketing strategies with extreme flexibility: they can create automated and personalized customer journeys in true real time (1.8 seconds) with complete independence from IT. They also gain clear analysis of campaign effectiveness and powerful insights to deliver continuous improvement.

Solitics’ proprietary technology leverages low-code integration to connect directly to all distributed data sources on one hand, and all marketing channels on the other, enabling the marketer to use all their data all the time. We also guarantee going live in under 30 days. We call it The Joy of Data.

Fazzaco: Solitics has launched a proprietary technology earlier this year to automate data processing. What does automation mean to you?

Tomer: Everything we do today is based on data, but working with data is still perceived as difficult. Because until now, making data usable was a painful process: You need to connect of all data sources, move distributed data to a single location, clean the data, and convey the data to BI and automation tools.

Solitics changes the paradigm. We believe that Data should be easy. Solitics integrates directly to the various data sources, automatically aligning data, making it trustworthy and usable. No lengthy data integration projects, no begging IT for help. Just your data, ready to be used.

Why is it important? Because the system learns the customer’s behavior and responds accordingly. For an active trader, it will automatically corelate between the trader’s specific stocks of interest and other available data, and will proactively share relevant information in true real time. This translates into happier, more engaged and more active users, directly impacting broker’s bottom line. Our customers see uplifts of dozens percent post integration.

Fazzaco: What other institutional solutions does Solitics boast at the moment?

Tomer: Solitics offers a sophisticated analytics tool, providing you with deep understanding of marketing operations and effectiveness. Built to analyze billions of records in seconds, providing clear visibility on any aspect of the data, Solitics offers out-of-the-box dashboards that can paint a clear picture. You will truly understand where your revenue is coming from, which campaigns and journeys were most (and least)  effective. You will have trend analysis and insights that you must have to make the right call at the right time, and to continuously optimize ROI.

Fazzaco: What is/are the most popular solution(s) you provide to forex brokers? What technical challenges do they usually run into?

Tomer: Many of our Trading customers use both product – meaning the Customer Engagement platform and the Analytics tool. Their feedback is incredible, as they encounter specific challenges that only Solitics can address. Why is it so complicated?

Because brokers have dispersed, distributed systems, and the data is not standardized. Each of these systems – a website, trading platform, CRM, mobile app, 3rd party data sources that provide market events, a call center, and others, are developed by different companies. They all need to be aligned and connected to provide the customer, or trader, with the experience they require. It is a complex project.

Existing data tools are generic, and demand a lot of effort to make the data usable. It’s like giving an organization a box of bolts and nobs, asking them to build a car. Very few will end up with a Tesla, while most others will not. Yet, using data for personalization is critical, due to the fierce competition in this vertical.

In addition, the trading industry has massive amounts of data, being updated all the time: exchange rates, stock and commodity prices, analysis, balances. A trader’s ability to get to the information they need at the right time is critical. As an independent trader, you must know of any changes in the prices of the assets that you are invested in, live.

In order to understand customer behavior and enable true personalization, meaning, provide personalized, contextual and relevant content, the organization must collect relevant data on the way the customer is using the product, gather market information, centralize it, ignore the information that is not relevant, handle it and process it – You must connect everything, both internal and external data sources, and make it all work together. This is where the magic happens, and this is exactly what Solitics does.  

Fazzaco: Which market(s) are you focusing on? Do you see any geographical differences in terms of client demands?

Tomer: We are already working with many brokers in various regions around the world. We are looking to penetrate the US market next year.

We see that brokers across the globe are facing an increasing demand for personalization, coming from their customers - almost like a grassroot movement. As customers, we are used to personalization provided by the likes of Spotify and Netflix, offering to each the exact content we are interested in, even getting really good at predicting what we would like, suggesting new songs and movies that have just been released. Personalization is now knocking on the doors of the Trading industry. Companies that will not provide such personalization might find themselves on the sidelines and out of the race.   

Fazzaco: Data capture has always been a sensitive topic. What measures does Solitics take to minimize the disclosure of private information?

Tomer: Solitics can work also in anonymized manner. We do not require any PII (Personal Identifiable Information).