INSUBCONTINENT EXCLUSIVE:
products and make customer services more efficient.
Participating in a panel discussion at the ETMarkets Global Summit 2018, Raamdeo
Agrawal, Co-founder, Motilal Oswal Financial Services, said the market has often been averse to embracing new technology, but this is what
have transformed the Indian market landscape over the years, making it more efficient and transparent.
As a Dalal Street veteran who has
seen these transformations take place in front of his eyes, Agrawal said the advent of NSE was one of the biggest technology innovations in
technology is large in market-related products, as the penetration level in financial services is very low in India
and around 25-40 per cent in developed markets
markets has to adopt new technologies if he wants to stay in the race
Chauhan, credited with bringing equity derivative trade to India, highlighted that ETFs, and even things like net asset value (NAV)
calculation and real-time order placements for stocks are significant achievements in terms of technology innovation.
"If you don't adopt
newer technologies, you may stay behind and slowly become irrelevant over time
This happens faster in the financial market than any physical industry," he said
said.
Nimesh Shah, MD CEO of ICICI Prudential AMC and newly-elected Chairman of Amfi, said the mutual fund industry needs to embrace
We can expand 10 times if we have reach
People are operating at only 5 per cent of business that they can do
was one of the firsts to embrace technology in a big way
With technology, a company can do multiple simulations to find which kind of portfolio is best suited for a client, she said
"Personalisation is the other level to understand a customer who wants to put an order
Through analytics, you can give more personalised offerings," she said.
Mukesh Agrawal, CEO of NSE Indices, said he is on the lookout for
startups that can add value to businesses
He said his firm is already working on blockchain technology, which is at an early stage
Calling common KYC as a new initiative, Agrawal said: Once you have done a KYC, it can go with banks, MFs, insurance companies, pension
