​FinanceBoards is More Than Just a Bloomberg Terminal for the Everyday Trader

Henry Truc  |

The data boom in the financial space has been a great equalizer for everyday investors. With more and more information readily available and new research and analysis tools being introduced into the market every day, self-directed investors are now armed to navigate through the market like never before. But even so, the flood of new datasets and market strategies can also be a double-edged sword, overwhelming investors and traders to the point of analysis paralysis. It certainly doesn’t help that data — especially newer, more experimental types — are especially fragmented.

Traditionally, institutional traders and investors have relied on high-power platforms like the Bloomberg Terminal to help make sense — to the extent that they can — of everything that the financial markets throw at them. But at $24,000 a year, Bloomberg is cost prohibitive for independent investors that don’t enjoy the luxury of a deep-pocketed firm backing them.

Fortunately, the trend of a more data-driven market has also created fertile ground for startup data aggregators to launch. Take FinanceBoards, a freshly launched online platform that allows users to create and customize widgets that aggregate data into an intuitive interface. The best part? It’s completely free…for now, anyway.

Screenshot of FinanceBoards dashboard

FinanceBoards was created by Atanas Stoyanov, a co-founder of AutomatedQ&A (now SmartBear). Stoyanov also created WooTrader, a predictive analytics engine that helps traders determine which financial strategies are working at any given period during the market. While FinanceBoards is free, users can elect to incorporate a WooTrader subscription to augment their platform experience.

Even without the WooTrader engine, the FinanceBoards platform is still rather robust in its own right with nearly 500 widgets to choose from, already with 12 strategic data providers. Keep in mind, the platform launched only a little over a month ago and is still in beta.

Financial Data Evolved

FinanceBoards integrated data partners include some usual suspects like Zacks Investment Research, Benzinga, ORATS, Intrinio and IEX, but it also features some next-generation and unconventional providers like TradingView, Quandl, TipRanks, PsychSignal, and even SEMrush. All of this allows users to toggle through various dashboards that houses the various widgets for any particular motif, such as fundamental, technical, analyst targets, headline news, web and social sentiment, buy and sell rankings, and time periods. The potential really opens up when you consider that users will be able to create their own widgets to customize their dashboards, and to share with other users as well.

“We look at this and say this is pretty much the Bloomberg for the future for the trader that is not in a trading environment who can afford $30,000-plus for a terminal,” said Steve Hamburger, Chief Marketing Officer of FinanceBoards. “And you don’t need a terminal and everything that goes with it. With the data partners that exist today, both old and new data is available in API form. FinanceBoards really is like an API server. But most importantly, it’s graphically pleasing.”

Users subscribed to the WooTrader service can access the General Woo predictive model node map and associated stock screeners. The General Woo weights over 400 investment strategies against each other based on their performance over the previous five trading days. If a user wants to drill down into any particular theme, the General Woo provides a list of ranked stocks that fit any particular theme.

Ultimately, the user-generated widgets and customizable experience could position FinanceBoards to serve as the go-to portal for investors to navigate the financial markets–essentially, the “Bloomberg of the digital age at 1% of the cost.” But there’s also a stickiness factor in play here. Once users spend the time to customize the experience to their specific liking, it becomes increasingly difficult to use anything else.

“Because this is such a unique platform where it combines the ability to store all of your different important data links and pieces of information on multiple dashboards, we believe it’s something investors will start to gravitate toward,” Hamburger said. “Once you start including information, creating widgets and dashboards in one place, it’s somewhat unlikely that once you’ve created all this methodology for yourself that you would move somewhere else—especially as we begin integrating with brokerage funds this month.”

FinanceBoards says Trade.it and TradeKing will be the first brokerage partners to be incorporated into the platform but there will be more to follow.

The WooTrader team from right to left: Atanas Stoyanov, Martin Stoyanov, and Steve Hamburger

Lean and Mean

According to the FinanceBoards team, both the FinanceBoards platform and WooTrader engine were built almost solely by Atanas Stoyanov, which is rather remarkable considering the amount of data integration and UI development (along with everything else) that seems to have gone into site.

“Atanas is capable of essentially creating anything from the product side in the software world,” Hamburger said. “With regards to data, he understands how to pull data and also corrects the data feeds for a number of our data partners, and they acknowledge that he corrects their data for them.”

Rounding out the FinanceBoards team is Atanas’ son Martin Stoyanov and finance industry veteran Steve Hamburger. Martin is college-bound to either Cal Berkeley, University of Chicago, USC, Harvard or Stanford–pending his decision, and Hamburger has served in executive roles at FPI (a Moody's Investor Service Company), Sanwa Bank, Gibraltar Savings, and Crocker Bank. The company says it has not taken on investors to fund its growth, and is relying on word-of-mouth of FinanceBoards will spread.

“Right now, [Atanas] is focused on making the product as good as possible,” Martin said. “If you look at WooTrader, he believes it’s the way of the future.”

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