- Enhances user experience by shortening the trade placement time in the new era of 5G, IoT and a connected world
NE BUSINESS BUREAU
AHMEDABAD, NOV 16
India’s leading digital ecosystem for consumers and merchants Paytm on Monday 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, says a top official of the company..
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.
