StockViva Case Study
StockViva Supports 4000+ User Chat Groups with Sendbird
StockViva is a Hong Kong-based social platform for stock trading. The platform includes content that teaches users how to invest in the market, offering news, announcements, and up-to-date analysis via chat group discussions. With users from over 20 countries around the world, StockViva is rapidly expanding in Asian equity markets, covering everything from HK stocks, US stocks, Foreign Exchange Markets, warrants, options, bonds, and commodities.
Within StockViva, chat groups are integral to the value of the application. However, StockViva’s initial chat solution was not scalable, particularly regarding connection speeds with large group sizes. This was a significant issue for supporting its end-users as the company grew. Kitman So, Product Growth Lead at StockViva, states that because “the stock market is very dynamic, prices may change very rapidly. If we cannot provide service during trading hours, the end-user suffers,” thus causing a decline in customer satisfaction and retention rates.
Initially, StockViva considered developing chat in-house. However, as a startup with a lean engineering team, dedicating resources to creating complex chat would considerably delay product roadmaps and time to market. Ultimately, the technical team decided that investing in a chat API and focusing on developing value-added features was a better allotment of resources vs. the difficulties of building a scalable chat function themselves.
Why StockViva Chose Sendbird
Each solution considered throughout StockViva’s evaluation process had to pass rigorous stress tests for latency and speed. Across vendors, Sendbird outperformed competitors on both fronts.“The chat feature that connects end users with an expert is a foundation of StockViva’s education service,” explains So. Fundamentally, that feature must be robust and reliable. So elaborates that while “there are plenty of solutions that can support large groups,” very few can do it “with the fast and reliable speed” that Sendbird provides.
While Sendbird’s extensive customer portfolio is what caught StockViva’s intrigue, it was the engineering and technical support Sendbird provided that won the company’s attention. Reliable support was a significant factor in StockViva’s selection of a chat API, and with Sendbird’s strong presence in APAC in conjunction with speedy response times, this ensured there would be no timezone issues. Paired with a comprehensive technical support library, the StockViva team had confidence in Sendbird as an effective partner.
After implementing Sendbird Platform API, StockViva can now easily support 3000 – 4000+ users in a group chat with high speed and low latency vs. its previous solution. Faster load times and no significant downtime free users to track, discuss, and analyze the stock market in real-time across 20+ countries worldwide.
However, as a social platform for stock trading, StockViva required more than just stable chat functionality. With thousands of international publicly traded stocks, it was imperative users had a strong message search feature to leverage the application effectively. Today, StockViva has optimized its message search to include stock symbols, numbers, company names, and more, enabling its users to maximize the educational information.
Push notifications were another integral component of the application. In chat groups with thousands of participants, StockViva fine-tuned the feature to allow users only to receive notifications when an expert posts a message.
The partnership between StockViva’s and Sendbird’s engineering teams is the clincher that makes constant improvement possible. So concludes that StockViva’s goal “is to provide knowledge as a bridge between the expert and the end-users. In that case, it is a very important factor why we chose Sendbird.”