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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

Mobility Redefining the Financial Marketplace

Venkat Rangan
Thursday, August 4, 2011
Venkat Rangan
We are in the midst of a technological revolution – mobile phones are taking over the world and redefining technology, business in the process. Having surpassed the adoption of laptops and desktops already, mobile phones are poised to break five billion subscription mark over the last year. Today, mobility is no longer a novel idea, and not just a tactical move. It’s a fundamental requirement for virtually every business. With fixed-mobile convergence on the horizon, now is the time to plan for comprehensive way to ensure mobility. It delivers maximum value as a strategic tool for the enterprise.

In countless ways, mobility is boosting business productivity, speed and responsiveness. Tools like notebook computers, PDAs, cell phones, Wi-Fi networks and virtual private networks (VPNs) have turned business on the move into business as usual. But many organizations have implemented mobility in a tactical and piecemeal manner, not realizing the gains possible from adopting a true strategic approach to mobility.

Mobility is evolving as the ability to conduct numerous financial transactions in real time. This drives the key to achieve strategic growth in the financial services sector, to establish significant new levels of customer loyalty, and opening new channels of direct, immediate, hands-on, smartphone-driven transactional capabilities. These capabilities manifest themselves in many ways – from real-time streaming quotes, to fully managing accounts in real time, to conducting real-time stock execution deals (including real time research, price alerts/quotes and actual buy/sell execution), to making retail purchases directly through a mobile device — the list of capabilities is as long as one’s imagination allows.

Each generation of mobile networks has introduced enhanced capabilities and has reached ever widening drape of consumers. In the 30 odd years since then 2G, 3G and just recently 4G networks have been launched. Mobility is redefining the way trading is conducted to meet the insatiable financial needs. The rapid penetration of smart phone devices and adoption of mobile application is acting as the catalyst. It’s been only a few months when exchange boards gave its nod to mobile trading. But the trend has caught up rather rapidly and it is only going to be fascinating from here on.

With mobile penetration reaching around 700 million users, against 100 million people using the internet, it makes sense, a mobile application that will help trading for a wider set of public. Mobility in stock trading market enables users to access, trade, and manage investments securely and reliably. With the line between a Smartphone and feature phone fast diminishing, it is playing a very important role in providing access to maximum number of people. Demographically, across the age group of 25 yrs to 55 yrs people are accessing mobile trading. The advent of non-entertainment applications in India has only just begun, and we see immense potential in financial applications in our country.

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