With a goal to build 500 applications that focuses on enabling action, Reactive Labs, co-founded by George and Riza, aims to go niche in a massive way, serving underserved markets en masse by building applications to enable specific user goals rather than work towards a super app.
“500 applications would seem like a stretch for most Asian tech companies but we do remain optimistic as we feel Southeast Asia would become a hotbed of innovation in years to come, hopefully with the support of institutions and government agencies,” the co-founders say.
And with a mission to develop applications that enable positive actions to achieve desired goals, this duo is on their way on achieving that mission with their first application, duedi. An app created to encourage and motivate investors to seek out information and knowledge before taking the plunge thus minimising potential risks. Duedi was born out of the need to focus on a specific niche in the investment market.
“Both of us, having been entrepreneurs and investors for over a decade in various industries, have seen first-hand how many investors have lost money, sometimes even their life savings, from bad investments or in other cases, Ponzi schemes,” both George and Riza point out.
“This might sound a little odd but there are many applications or education programmes in the market that specifically focuses on motivation but we wanted to focus on enabling action. Our first application, for example, wanted to help reduce the fear of investing by supporting them with tools to make their own independent due diligence on as many investments as we can cover,” George added.
For their first app, duedi, the team at Reactive Labs hope to help Malaysians make informed decisions when it comes to investing. According to George, the number of scams during the Covid-19 outbreak had become more rampant as unscrupulous con artist prey on the fears and the financial distress of everyday Malaysians.
He believes that investing during the period can be potentially lucrative but fear and greed causes intelligence to go out the window, making even the brightest of minds suspect to bad investment decisions. “We feel it especially important now for financial literacy to increase especially as we enter into a critical period when moratoriums expire and no clear vaccine is in sight in the short term,” says George.
“Once an investor has done due diligence, they would have the confidence to invest, thus enabling them to make informed decisions,” says Riza, who adds that is the driving force behind all their existing and future application developments. “The areas we cover are heavily inspired by Nassim Taleb as we strive to enable the application of anti-fragility to all aspects of daily life by limited negative effects of downsides and enabling unbounded potential upsides,” he adds.
Duedi is both available on IOS and Google Play