IJSSER

Title: A STUDY ON THE ROLE OF TECHNOLOGY/AUTOMATION IN STOCK MARKETS AND BANKING
Authors: Mayank Kataria
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Mayank Kataria Student, Lotus Valley International School, Gurgaon, HR, India
MLA 8 Kataria, Mayank. "A STUDY ON THE ROLE OF TECHNOLOGY/AUTOMATION IN STOCK MARKETS AND BANKING." Int. j. of Social Science and Economic Research, vol. 6, no. 7, July 2021, pp. 2082-2104, doi.org/10.46609/IJSSER.2021.v06i07.005. Accessed July 2021. APA 6 Kataria, M. (2021, July). A STUDY ON THE ROLE OF TECHNOLOGY/AUTOMATION IN STOCK MARKETS AND BANKING. Int. j. of Social Science and Economic Research, 6(7), 2082-2104. Retrieved from doi.org/10.46609/IJSSER.2021.v06i07.005 Chicago Kataria, Mayank. "A STUDY ON THE ROLE OF TECHNOLOGY/AUTOMATION IN STOCK MARKETS AND BANKING." Int. j. of Social Science and Economic Research 6, no. 7 (July 2021), 2082-2104. Accessed July, 2021. doi.org/10.46609/IJSSER.2021.v06i07.005.
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Abstract: Technology and automation have been continuously adopted by stockbrokers and banks - two key participants of the financial services industry. The adoption was to reduce costs and improve productivity. Increasing digitization, ubiquity of the mobile phone and easy internet access are key trends that are now shaping all industries and financial services is no exception. New, digitally native, consumer satisfaction obsessed companies like Google and Apple are keen to enter & disrupt the traditional players. A whole new “FinTech” industry has taken shape globally in the past decade. The study was conducted to focus on the traditional players of the banking and stock market ecosystems and get insights on how mass technology adoption can help existing players stay relevant through increased customer satisfaction. The author analyzed a broad spectrum of data of leading industry players from two diverse markets - India and the United States. The findings from multiple global consultancies were delved into, thereby making this a comprehensive, novel and globally oriented collaborative study. The key positive takeaways for the incumbents was that they enjoyed the advantage of larger scale and trust built over the decades. However, this study also confirmed that new age players were challenging, quite successfully, the established players in domain after domain. The implications for incumbents was clear - requirement of massive technology investment and process redesign to stay relevant in this industry. The research hypothesis stated that there is a significant change in variables such as cost and customer satisfaction, after implementation of automation and technology; and it has been accepted.

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