First of all, how are you and your Family doing in these COVID-19 Times?
Trawut Luangsomboon: I found myself doing better than I thought I would do. I’m definitely much happier that I get to work from home and spend more time with my daughter. My family is doing quite well; luckily, in Thailand, everyone has been very cooperative in wearing masks and staying at home. We have managed to keep the pandemic spread to a very minimal margin. If I have to say thanks, it would be all the people who helped reduce the risk of pandemic spread.
Tell us about you, your Career, how you Founded Jitta
Trawut Luangsomboon: It started with a friend and I sitting on a plane and wanting to do something together. We wanted to do something that can benefit society as a whole. For that reason, we came up with a value-adding platform for everyone.
We spent seven years developing our algorithm to nail down all sectors and industries and accurately recognize stocks’ current fair value and long-term operating trends with simple scores.
How does your Jitta Innovate?
Trawut Luangsomboon: Belief, motivation, and teamwork. At Jitta.com, we believe in our company mission, which is to create better returns through simple investment methods. Based on this foundation, I pushed the team to develop new features and products suitable for all users. They also create a broader opportunity to invest in international markets.
We focus on our users’ experience, needs, and wants when exploring further technology. We want to ease the investment fees for our investors, investment decisions, and knowledge.
Further, we try to understand the problem first, and then use the technology to support and reduce human labor. We also negotiate with our partners to find updated and creative ways of solving clients’ problems.
How the Coronavirus Pandemic affects your Business, and how are you coping?
Trawut Luangsomboon: We’re a fintech company and doesn’t rely on brick-and-mortar store like other businesses. For that reason, we are doing better than in some sectors. The pandemic has a short-term impact that has caused a widespread panic within the market. This has made the Jitta team more active in helping investors understand the situation and improve their investment decisions.
It’s not to say we are not affected by COVID-19; however, we were quick to enforce working from home policy. Still, there was a time when the team needed to adjust to communicating online regularly.
Currently, we believe we are operating at optimum efficiency within our teams, as everyone has adjusted to the new normal. We are using data-driven decisions to help maintain the company’s functions and efficiency.
Further, we are making sure that our internal cash-flow and product pipeline are meeting deadlines.
Did you have to make Difficult Choices, and what are the Lessons Learned?
Trawut Luangsomboon: Since COVID-19 does not directly impact us, there is no need to make difficult choices. However, there are concerns about operating the company using the new normal and how to deliver investors’ and teams’ expectations.
How do you deal with Stress and Anxiety? How do you Project yourself and Jitta in the Future?
Trawut Luangsomboon: I do my best not to dwell on my stress and anxiety, as it never help solve the problems. I try to make data-driven decisions, fix the root cause of the problem, and keep moving. To make sure the company grows as a whole and helps people worldwide build better returns through simpler methods.
Who are your Competitors? And how do you plan to stay in the Game?
Trawut Luangsomboon: We are not merely an online-financial analysis platform but also operate wealth management for investors with Thai bank accounts. Traditional investment and asset management firms are our core competitive, but we still see gaps for us to fill in and help bring value to the industry. The one true competitor we see is our yesterday selves, and we strive to improve each day and every day, this way, we can always stay focus on improving and never stop learning.
It is fiercely competitive within the finance sector and to stay atop of others we have to make better returns that mean keep researching and developing both new and existing algorithms. Expanding the investment horizon for all investors by creating optimum returns. We push out investment boundary, to diversify their risks and amplify investment opportunities to investors’ portfolios.