According to numerous indicators, India is well on its road to becoming a digitally proficient country. India is already home to one of the world’s most significant and fastest-growing bases of digital consumers, thanks to the decreasing cost and increasing affordability of smartphones and internet access at high speeds, and it is digitising faster than in many developed and developing nations.
Digitisation has been the epicentre of trading platform innovation. With the debut of app-based trading platforms in 2010, brokerage houses began to embrace digital to serve a broader range of investors. They were essentially established as an internet platform for tracking market prices and aiding investors in buying, selling, and holding stock options. Trading platforms have evolved into a one-stop shop for various investment possibilities, including bonds, currencies, stocks, commodities, and other financial assets.
Rising participation in financial markets has contributed to a proliferation of digital platforms that are launching new goods and services to make investments readily accessible to historically underserved populations. Nowadays, more new-age investors are looking for platforms that provide a one-stop shop for all financial services. It facilitates the way for the development of super apps to offer consumers a variety of services ranging from stock market trading, FDs, and mutual fund investments to loan applications. Over a decade ago, the advent of the Screen-Based Trading System (SBTS) marked the launch of the digitisation of stock markets. Since then, it has advanced with cutting-edge innovations such as Artificial Intelligence (AI) and Machine Learning (ML).
From opening a Demat account and making trades to maintaining an investment portfolio, web and mobile-based applications have made trading convenient for today’s tech-savvy individuals. It has led to increased participation by Millennials and GenZ. One of the emerging trends in digital trading platforms is the integration of AI-powered chatbots that facilitates new as well as seasoned investors with financial market updates.