The first big trend underpinning broking is the shift to Mobile First Says Gagan Singla, blinkX by JM Financial
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Quote on tech transformation in broking industry in 2023 By Gagan Singla, MD, blinkX by JM Financial
"Digitization is transforming the broking industry, is passé. How are brokers preparing for this big tech transformation is something we should focus on. The first big trend underpinning broking is the shift to Mobile First. If apps offered a mobile experience, the next stage is to create broking platforms with mobile as the default onboarding mode. Broking is shortly coming to that. The second challenge is handling the mountains of digital data. Today digital data capture historic trends, lateral trends and social trends to enable hyper-personalization on a large scale.
The other big tech shift is that the first mover advantage will belong to the one that creates a stellar user experience. If user interface mattered in the past, it will be the differentiator in the future. Lastly, the future of broking is anticipation. Data and engagement will be used to anticipate losses, envisage trend shifts and anticipate possible defaults. The future will belong to the brokers best prepared for this shift."
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