3 ways in which technology has simplified life & made investments easier

Rahul Jain

For those who closely monitor stock markets with a keen eye for opportunities, COVID-19 and the subsequent lockdown presented a unique challenge.

How does one keep track of ongoing market developments amidst uncertainty and volatility to spot that one opportunity to capitalise?

The current market environment has led to several fundamentally-sound stocks being available at a valuation that is minuscule, as compared to pre-COVID levels.

Being able to leverage such prospects at a moment’s notice, is valuable. And this is where technology has simplified investing, making it easy to invest through a few taps on your mobile phone or laptop.

At a time when social distancing is becoming the norm, digital the new buzzword, for savvy investors’ who seek to evolve to adapt.

Technology: A Great Enabler During Challenging Times

The crisis engulfing us now is vastly different from anything that we have witnessed in the past. What started as a health crisis, quickly escalated to spillover to other realms having a direct connection with our finances and financial well-being.

This warranted the adoption of a tactical approach that would allow us to keep our investments safe and simultaneously, also stay on the path to financial independence.

While the Government and various authorities do their best to counter the virus, technology is fast emerging as the much-needed knight-in-shining-armour that is enabling investing sans disruption.

Investors can now, invest from the comforts of their home across a spectrum of asset classes including stocks, mutual funds, and fixed deposits among others.

Be it making a fresh investment, adding to an existing one or completing mandatory KYC formalities, technology is at the forefront of making all of this safe and possible.

There are multiple apps available to facilitate seamless transactions speedily, without needing to physically visit your banks, etc. The fluidity and ease available with technology, has bolstered its adoption pan India.

In fact, the fintech adoption rate in India has increased considerably, standing at 87% [1] in 2019 as compared to 52% [2] in 2017.

Comprehensive and Detailed Instructions

During testing times, maintaining a calm and disciplined approach is easier said than done. There are a lot of questions doing rounds. Modern technology facilitates transactions and also offers comprehensive and detailed instructions. The 24x7 access provided eliminates the time factor, providing answers to queries instantly.

Investors can get a holistic picture of their financial standing, including details of all transactions and how close are they in achieving set goals or their portfolio allocation, among others. At the same time, most fin-tech apps are capable of providing customised service, addressing specific investor requirements, as per past behavioural trends or patterns.

Utility to Increase in the Coming Days

Given the current state of affairs and the rise of tech-savvy millennials in the workforce, technology is expected to play a more dominant role in the finance journey of investors.

With green shoots of recovery visible in macro indicators, more innovative and user-friendly apps are expected to be developed to meet evolving investor needs.

The underlying influence of technology in our day-to-day activities presents a strong case for a more personalised and consolidated personal experience, in the days ahead.

As the effects of COVID-19 soften with time, technology will play a critical role in fostering a safe and healthy financial environment, both for organisations and individuals.

(The author is Head Edelweiss Wealth Management)

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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