Fintech is the latest trend and is made by combination of words which are finance and technology. There is a huge need of technology in the finance sector and there are many innovations that help to perform the tasks in better ways. The things which were earlier performed manually are now performed using the technology and the electronic devices. Due to introduction of the technology these tasks take only few minutes to perform.
There have been huge benefits to the stock markets through the introduction of the technology. Almost all the areas are benefitted but the stock market has been the most affected thing in the whole finance sector. The discount brokers can now perform the things in the best manners now. These are the middlemen who perform the trading on the behalf of the people who have invested money and they even provide analysis of the portfolios so that the things can be well performed. Some of the best discount broker in India have implemented technology and have grown a lot in just few years. The merits of this concept are as follows:
- Investor satisfaction: the basic aim of every business should be customer satisfaction. The design must be simple and easy so that the beginners can perform well as being first timers and learn about the things and then they can also perform the tasks easily and quickly. These must be designed by keeping the normal people who are not the investors in mind. This has helped to reduce the costs and increase the profits. This is the main thing that has satisfied the customers.
- Digitalization: the things such as placing the orders and taking the deliveries are now performed using the electronic media. People can do these tasks from anywhere and at anytime with no interference from anyone.
- Automating things: the manual data keeping is no more alive now. The things are performed online and everything is saved in the databases.
- Speedy placing of trades: one can get the delivery as soon as one places the order now. There are many things that can be placed at a single time with the help of such technologies.
- Fast and smooth cycles: the tasks can be performed within few minutes nowadays. The efficiency has been increased and the tasks can be simply performed now.
- Other services: the middlemen also provide other services such as discounts, data tables, etc. Also another feature is of the inbuilt calculator that can be used to check the overall profit or the loss of the investor’s portfolio. Also the daily gain/ Loss can also be known by investor. There are many kinds of charts that are available which make it easy for people to analyze their portfolio and individual stock movements.
The customer base has been widened since the past few years and the people have developed huge faith in the stock markets since many years. Even their profits have also increased largely leading to higher levels of motivation among them to perform the tasks.