Unlike it sounds, digitalization is not a difficult process. Technology tends to get better and hence cheaper. That’s one such unwritten law that has spearheaded the induction of technology in Rural India.

Today, even stock market apps like IIFL Markets are used by people living at over 1000 locations. Thanks to a good design, and relentless implementation of predictive intelligence, the app has featured into must have for rural smartphone users.  Now, a user living in remote part of Rajasthan has equal access to a sophisticated investor living in Mumbai.

This not just keeps up with the pace of the current investors but also brings in new investors to the market. Initially, an investor would add cost of trading in the total trade expenses which roughly used to be net around 1% – a very high amount. That has effectively come down to 0% with the advent of new age technology. Now, getting a stock market app doesn’t warrant a single rupee of investments, and the phone calls for tips and trade are things of past.

Today, there are far more mobile app users in India than there were ever before. According to the statistics released by IIFL Markets, roughly 40% of its users access the app on a daily basis – a huge number by any yardstick. That indicates that the participation is increasing.

Compared to its global peers, Indian apps like IIFL have an advantage. They maintain direct accounts with exchanges like BSE, NSE etc. and, therefore, allow users to trade using the app.

About a few years ago, when computers had originally come in, there used to be 1% cost on just 0.10% typical brokerage on intraday trading. Which was 10 times more, that dissuaded a lot of traders from jumping into stock markets.

All this involves technology isn’t it? Well yes, and the technology deployed on the apps is far more sophisticated than the ones employed on the web or software. Here, the developers have a tough task and almost everything is done through analytics. To give you an idea of how it works. Let’s take an example.

IIFL Markets, learning from its user experience during soft launch decided to put up dual watchlist. The reason was to optimize the data usage and making it simple to break the scripts into manageable chunks. The experiment proved to be a breakthrough and the app did see a surge in downloads because of that. Such experiments were impossible before because companies didn’t have that level of access to user behavior. Apps have really took things to a next level here.

For the end user, all this feedback, and a manageable system means more usage. That’s the reason why a large number of users are switching onto the apps for mobile trading. Besides, most of the investors have other professions and they appreciate the way they could tweak a mobile app and customize it to their requirements.



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