With technology slowly taking centre stage in the world of investments, involving instruments like fixed deposit, mutual funds, equities and more, your eyes may be on what 2020 has to offer. Typically, this involves keeping tabs on emerging fintech trends, seeing how various innovations can work together and noting how these impact you as an investor. Among the most interesting and promising innovations are Artificial Intelligence, cloud-based operations and robot-powered services. Read on for a more detailed take on the same and to know what impact they have on investing.
Increasing use of AI and data analytics
Over the past few years, huge strides have been made in the field of Artificial Intelligence (AI) and data analytics. Industries across the globe are adopting and integrating AI into their daily functioning to optimise various processes. The finance sector is not lacking either, and various players have incorporated AI and data analytics for their adaptive-predictive capabilities.
In a world where data is king, AI helps banks, NBFCs and investors to sort through millions of data points, recognise patterns and predict the market. Moreover, AI and data analytics not only accelerate processes and increase revenue, but also reduce human intervention, thus eliminating, or at least reducing, errors and speculation.
Enhancement of data security and cloud storage
As the world becomes more data-oriented, data storage and security have grown to become critical for all industries. However, data security is especially a concern for financial institutions considering the volume of sensitive information handled on a daily basis. All through 2019, various security measures were put in place to prevent fraud and misuse of personal information. Similarly, you can expect that in 2020, on combining AI and cloud computing, data privacy will be further enhanced to provide maximum security and protect both investors and institutions from fraud.
Cloud computing has been an integral part of daily business for most financial institutions. It helps firms streamline processes efficiently, promptly resolve customer queries, and quickly assimilate and store data in a secure place. It is predicted that cloud infrastructure will touch the $370-billion-mark by 2022. So, as an investor you can look forward to more seamless internet-based investing in the times to come.
Introduction of robo-advisory services and automation
Robo-advisors have been implemented at a minuscule level so far. However, further enhancement will enable robo-advisors to be more than mere CRM-boosting instruments. With the backing of data analytics and AI, robo-advisors can give you sound and well-researched financial advice regarding your portfolio. If you are a young investor looking to start a simple investment portfolio, without a hefty consultation charge, a robo-advisor can quickly provide you with the right investment options, and also advice you on the viability of your existing investments.
Today, automation has been integrated into many functions of banks and NBFCs. However, in 2020, the focus will be on finding a delicate balance between efficient computer operations and affable human service. As an active investor then, its fitting that you keep an eye on these trends in 2020 and partner with financial companies adopting them to benefit the most from your investments.
NBFCs such as Bajaj Finance are good options to go with as future developments promise to take their already-well-performing instruments to a new level of superiority. Consider for instance, the Bajaj Finance Fixed Deposit. It is an avenue known for its stability and this has been vouched for by CRISIL and ICRA who have assigned it their highest ratings, FAAA and MAAA respectively. Similarly, Bajaj Finance is the only NBFC to obtain a long-term issuer credit rating of ‘BBB-’, with a stable outlook, and a short-term issuer credit rating of ‘A-3’ by S&P Global Ratings.
Alongside safety, Bajaj Finance offers impressive FD interest rates that go up to 8.10% and 8.35% for regular and senior citizens respectively. These are applicable when you invest for at least 36-60 months with returns at maturity. In fact, you can forecast them to a tee with an FD calculator, as the instrument is not linked to the market.
Here is a table indicative of what you can earn through a Bajaj Finance FD.
Hand in hand with rewarding yields, Bajaj Finance offers convenient facilities like the Auto-Renewal feature that helps you stay invested for a long term seamlessly and the Multi Deposit feature that facilitates quick and efficient laddering.
So, what are you waiting for? Keep tabs on 2020’s top investment trends and invest in a Bajaj Finance FD to maximise your returns in a safe and reliable manner. To do so, request a call back and get help in choosing your deposit’s particulars.