Ø Enables retail investors to place voice orders and get live information for listed stocks, one of India’s first smart assistant for traders
Ø Enhances user experience by shortening the trade placement time in the new era of 5G, IoT and a connected world
Mumbai, 15th November 2021: India’s leading digital ecosystem for consumers and merchants (1) Paytm today announced that its wholly-owned subsidiary Paytm Money has launched Voice Trading, that allows users to place a trade or get information about stocks via a single voice command. This service has been launched in line with Paytm Money’s efforts to offer next-gen and AI driven tech to elevate user experience.
In the age of digital trading, there are movements in a matter of seconds, and the speed of order placement and execution are of prime importance. From searching the stock, to entering specific price and quantity, means that users on average tap the screen multiple times per trade to get desired outcomes.
Paytm Money’s R&D team leveraged its experience in disruptive tech to specifically solve this problem with Voice Trading. The voice trading feature enables a single voice command, with the use of Neural Networks and Natural Language Processing (NLP) to allow instant processing. With the advent of 5G, smart devices and a hyper-connected world, the way we live and transact will change, voice based transactions will slowly become mainstream and this is the first step to embrace the power of Video/Audio.
Varun Sridhar, CEO of Paytm Money said, ”At Paytm Money, our focus has always been to elevate user experience and be the first to leverage technology to make investing faster, cheaper and easier. With a mobile-first and interconnected world of devices and the much awaited launch of 5G, the Voice Trading feature enables users to skip the usual 5 to 6 step process of trade in a dynamic environment with simple voice commands. We believe that this will improve user experience over time and will bring more convenience to tech-savvy investors. We are doing a lot of R&D on newer technologies and this is one of the first products to be launched”
Voice Trading is currently being rolled out in Beta to select users and will be available to all users over the next weeks.
One97 Communications Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the red herring prospectus (“RHP”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana, at New Delhi. The RHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, and the websites of the stock exchange(s) at ww.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP when available. Potential investors should not rely on the DRHP for any investment decision.
(1) Source: Report titled “The Digital Transformation of Payments and Financial Services in India” dated July 15, 2021, prepared by RedSeer Management Consulting Private Limited.