Leading stock broking house, AxisDirect, announced the launch of WhatsApp broadcast services to provide timely and personalised market information to investors on the go.
In this age of information overload, retail investors often find it a time-consuming process to track updates related to markets as well as their investment portfolio. The feature combines the convenience by leveraging WhatsApp as a medium of communication and offers personalisation by sending relevant content to users.
This innovative feature provides not only personalised alerts, research ideas and market updates via WhatsApp but is also powered by an Artificial Intelligence (AI) based bot that can fetch live portfolio values, stock quotes, index values or even answer investor queries on chat.
The service uses end-to-end encryption, thereby making it highly secure.
"We are extremely happy to introduce WhatsApp services for our customers. It has definitely become a preferred mode of communication for millions of people in our country and we see tremendous value in this initiative for our investors. This feature will not only provide investors with relevant market information but also offer personalised insights for creating a better portfolio. AxisDirect has always endeavored to simplify the customer experience through innovation and this feature is a positive step in that direction," said chief business officer, Axis Securities, Amit Golia.
What makes this proposition unique from other players providing information over WhatsApp is the fact that it is powered by a bot that is not keyword driven like most players but is based on AI. So, the Natural Language Processing (NLP) capabilities are much better.
The bot also provides customised url for users to take actions. By clicking on the link, it pre-populates a personalised order entry panel for registered AxisDirect customers already logged in.
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It fetches personal information like live portfolio value and the top gainers and losers in the portfolio on a near real time basis.
Further, it provides alerts tailor-made specific to the customer unlike other players providing general market news.
For example, if one holds Tata Motors and the price reaches 52 week high or low it immediately intimates the users holding Tata Motors stock in their portfolio.
The use of WhatsApp for disseminating market and portfolio related information is another step by AxisDirect to equip the investors for making informed financial decisions in a simplistic and innovative manner.