Technology has two faces – one that is full of profound complexity, and the other that makes life easier. For the first decade of the 21st century, we save this complexity, whereby an investor would need to install software, look around information on the web, and do numerous tasks to research.
Young India or the youngsters did very well, but then the old India, the elderly, missed the bus. As a result, the gap between the two was greater than ever before.
The allegations of complexity were not unfounded, besides, arranging so much space, operating systems etc., made the old India shy away from technology.
But the second decade has just made things change upside down. Especially with the advent of mobile applications, there is absolutely no divide between the young and the old India. Developers around the world are putting up a lot of intelligence and codes that makes accessing information easy.
For example, IIFL App, one of the India’s leading Stock Market app, has introduced a flurry of features which users can access with a few taps. Here are three critical things for investors are.
- Access to information – It includes the information that impacts the stock in both short term and long term basis. Access to information should be easy, and concise, and in this case, IIFL makes it all available at one very spot.
- Ability to trade – Being able to trade is very important. Even if an investor has an app that tells them everything about the script – but doesn’t let them trade, it can translate into a lot of lost opportunities.
- Expert’s take – It is crucial for an investor to know what the experts think about the stock. Not that it is always true, but it puts them into the striking distance of making right choices. Expert’s take is important as it is an aggregation of numbers, predictions, and fundamentals of the business.
Apps have put in considerable resources to make all these things accessible to its users. In this example, IIFL Markets has put in a team of 50+ full-time professionals to research into companies, and then send reports to some experts who give a call on the stock. The entire process requires a lot of commitment, and users seem to appreciate that. So far investors from over 850 towns and cities in India has embraced IIFL app. Company’s short-term target is one million downloads – a number that they are expected to achieve well before the time.
Today, owing to these apps, Old India is at par with Young India, and a typical message board on the stock market apps represents that, whereby an elderly investor imparts his experience to a young investor. This is the very era which was once not even conceived.
Moreover, these applications can work on any basic smartphone. Most of the apps roll out both android and apple versions which are available for free.