Digital Transformation of Geojit Financial Services

When considering a foray into investments and trading, it is important to know the current landscape, and the tools, services and platforms at your disposal. One company that can readily assist you in such matters is Geojit Financial Services.

 

In this exclusive interview, Jones George, Chief Digital Officer, Geojit Financial Services, talks about how Geojit leverages technology and what advice he has for prospective investors in these times.

 

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About Geojit

 

Geojit Financial Services is a leading investment services company offering various financial and investment solutions. Geojit has more than three decades of experience in the field and has witnessed significant growth and transformation in these years.

 

“From a small firm, we (Geojit) have grown into one of the largest stock broking firms in the region and our brand recall and customer trust remains high. That is the single largest achievement to speak of.”

 

One of the earliest brokerage firms in India, Geojit is headquartered in Kochi, Kerala and has a network of offices across the country. The company also has a strong and growing presence in the Middle East. They are constantly pursuing all efforts to provide the best customer experience, George says, but the operation there focuses more on Indian expatriates. 

 

“We have a mix of products that are offered through our joint ventures in the GCC countries but they largely cater to the Indian expats. There is a limitation in providing fully online services to clients there due to regulatory constraints.”

 

He says that they have expanded into having a presence across the entire value chain of the stock broking process.

 

“Over the years, we have grown in our business by balance sheet size as well as client addition.  We also have a good track record in rewarding our shareholders with a sizeable dividend history.  Our reach has increased steadily with enhanced service offerings such as Insurance and AIFs being added to our core business.”

 

 

Digital Transformation of the Company

 

As the CTO of Geojit, George is intimately acquainted and involved with how the company has undergone digitization in recent years. “Our digital capacity is growing every day as we tune our products with the ever-evolving market demands,” he says. “We have a robust technology backbone that is scalable as well as flexible to suit a variety of needs.”

 

The pandemic created an uncertain environment for businesses, but it is this techno-centric approach that helped Geojit respond appropriately.

 

“I should say that we could grow in customer addition despite the restrictions imposed by the lockdowns by reaching out to more customers by leveraging on our technology backbone and digital network & prowess seamlessly…

...Since the pandemic, the dependence on technology has grown and so we are enhancing the overall user experience of our platforms and services.”

 

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The different products and platforms offered by Geojit all use advanced technologies to cater to different clientele.

 

Among these are Selfie, the trading platform by Geojit, FundsGenie, for mutual funds investment, and Smartfolios for assisted portfolios.

 

Selfie is an advanced trading platform available on the web and mobile, made for a seamless trading experience.

 

“Its customizable layout, integrated security system, advanced charting platform makes trading easy, reliable and helps the traders to take informed choices.”

 

FundsGenie provides a “user-friendly, clutter-free experience for mutual fund investors,” developed for catering simultaneously to a variety of mutual fund investment needs.

 

“It is a cutting-edge platform to analyse and invest in mutual funds. As there are thousands of mutual funds to choose from in the market, the app gives a rewarding experience for our mutual fund investors.”

 

Then there is Smartfolios, the latest offering from Geojit.

 

“It is largely for investor clients who require some assistance in choosing portfolios. We have portfolios in a range of themes that an investor can choose from. An example of the themes would be a Defensive basket for a low-risk strategy, Vision Basket for a long-term strategy etc. The investment can be made in lumpsum or periodically."

 

The working of the platform is simple with the portfolios being “constantly monitored by a manager and whenever there is a change in the portfolio construction, a recommendation is sent to the client.” The client simply needs to click accept for the recommendation to be executed.

 

The focus on technology also makes Geojit popular with today’s tech-savvy youth, who are getting more and more into trading. “The swelling crowd of young investors is a welcome development since that gives the market much more breadth,” he says. The increasing involvement of different sections of the population in trading can only be for the best.

 

“It also takes the trading culture to semi-urban and rural areas, thus adding to the equity cult in the country.  Considering the low level of stock market penetration in the country, these are steps in the right direction.”

 

The nature of investments and trading has also changed significantly with the advent of new technologies like AI and machine learning.

 

“The use of AI and machine learning were there in the market for quite some time in one form or other and some of the trading platforms were using them. We now see it slowly being part of the mainstream.”

 

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Advice for Prospective Investors

 

“It is imperative for prospective investors to understand the fundamentals of the market in order to be cautious as well as to optimize the potential of stock trading.”

 

So for those looking to make a foray into the world of investments and trading, George recommends getting the fundamentals down before anything else.

 

“Entering the market with little or no knowledge will prove counterproductive. Do keep in mind that stock market investment is for the long-term and is subject to market risks.”

 

Seasoned players like Geojit can therefore assist those with the desire to succeed in the market.

 

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Plans for the Future

 

“Our motto is “People you prosper with.” With that vision, our goal is to help our clients to generate wealth…

...Our goal is to make Geojit the go-to brokerage for investors in the future and to be their trusted partner in wealth creation.”

 

Geojit’s focus on customer service can be seen in recent and future initiatives, among them a partnership with Punjab National Bank (PNB) to provide three-in-one accounts to its customers, to make it easier for PNB customers to transfer funds in real-time via the payment gateway facility from their savings accounts to meet their investment needs.

 

“It covers the benefits of a savings bank account, a trading account along with a demat account.  In short, the account allows investors to transact from one account rather than switching among three different accounts.”

 

They also very recently launched an innovative Partner Portal to foster entrepreneurship and help investors with the hurdles that the pandemic brought on. Professionals, educated housewives, and youngsters are expected to benefit the most from this initiative.

 

As a result, Geojit’s strategies for the future are aimed at ensuring that they cater to all types of clientele and cover all channels of customer service and on offering an omnichannel approach. The pandemic has compelled them to improve their products and they have always strived for market innovation and investing ahead of the technology curve.

 

George firmly believes that the combination of these factors will make Geojit the preferred choice for investors.