Technology has been a catalyst across all walks of our lives. Do you remember how we used to worry about change and move from one shop to another for it and then finally do the transaction? Those days of inconvenience are over now; all thanks to digital payments. You can now do transactions of even the smallest amount with just a few taps on your smartphone in seconds without thinking about change in your wallet. That’s the power of technology!
In fact, in the post-covid era, the role of technology has increased manifold for all of us. Before covid, did you ever think that you will do online doctor consultation through video calls. The application of technology has shot up big time across every industry now as everyone is looking out for a backup through digital transformation of their business. The primary objective is to gain maximum efficiency at the minimum cost possible.
The trading industry in India has also seen a great level of transformation over decades in terms of adopting new technologies. Do you remember the time when you used to call up a broker or go to their office to punch in your trades? You have moved significantly ahead of those times. Now, you can trade from your own smartphone apps on a real-time basis anywhere in the world.
Mobile/app-based trading has become more and more popular among investors/traders due to its accessibility, convenience and security. The clients can access their trading reports or raise any queries in a jiffy on the app itself.
If you think about the share of cash market trades carried out on mobile phones now, it has seen a meteoric rise over the last decade. Higher and higher internet penetration at lower cost and the rise of app-based trading culture has led to this kind of surge.
Back in 2014, the estimated cash market volume generated through mobile trading was just 1%. Since then, it has been on an ever-increasing trajectory. So, from just 1% back around a decade ago, you see that till last year, it comprised a quarter (25%) of the cash market volume now. That’s significant progress on its adoption.
Today, there are more than two dozen apps from multiple brokerages (both discount and full-brokerage houses), which are competing in the market to win the trust of their clients. Hence, the clients often face the paradox of choice.
If you look at our mobile trading app, ANT Mobi 2.0, it is a complete solution for any trader or investor. On the app itself, you will get all the market-related news, can easily transfer funds and access the app through fingerprint login. One can also do his/her stock analysis with the help of multiple indicators and screeners available and then make an investment decision.
e-KYC and UPI have also been the game-changers for traders in terms of easy account opening process and fund transfer. In fact, these technologies have enhanced the client/broker relationship at every touch point throughout the trading journey.
Going ahead, the tech advancement for trading could even be voice command-based trading and the use of Artificial Intelligence (AI) to make better trades. The industry will keep evolving as the adoption of technology increases. So, what are you waiting for? Go ahead and explore the new way of trading!