A Touch of Automation and Data Driven Disposition

CIOReviewIndia Team | Monday, 13 July 2020, 01:24 IST

Power of automation has left no industry untouched and capital market is no exception. In fact, the increasing frequency of regulatory changes has made it even more relevant ground for adoption of automation. Change in regulations are keeping capital market on its toes, compelling it to look for more efficient ways to manage compliance. There has been an increase in IT investment by capital market firms that are striving to upgrade their legacy systems and transform customer experience. In an effort to meet the changing customer expectations, capital market firms seem more and more upbeat about implementing new technologies to transform operations.  

“It is not possible for India to grow at 8-9 percent without the development of capital markets. The level of capital market penetration in India is still 5 percent, whereas in the developed markets, it is 35-40 percent,” said Vikram Limaye, MD & CEO, National Stock Exchange, earlier this year at ANMI’s International Convention 2020.  

Intelligent Automation   

Experts are of the opinion that as the industry progresses forward, it will have to factor in the importance of automation as a way out to manage compliance to changing regulations. They also believe that addressing the self-service concerns will be crucial going forward as more and customers prefer to have as much control in their hands as possible. Technology has come to the rescue of businesses in achieving it by adopting automation and AI and using the combination to streamline their operations. By analysing the humongous data which was impossible to do manually, it is now possible to glean insights from that data using AI. Those insights can then be used by them to better understand the customer preferences and their expectations, thus helping the capital market firms to design their offerings accordingly.    

While harnessing the customer data for insights, it is also important to ensure that the data is safe and customer data privacy is maintained. Hence, cyber security has become a key aspect and firms in this sector are doubling down on their investments in cyber security.  

If we look at the overall landscape of capital markets, managing compliance in a data-driven way has become the primary goal for businesses in this sector. And in order to do that, they are looking for adept solution providers who can help them achieve that as well as the overall streamlining of the whole investment process.     

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