The Money Code
Outlook Business|OLB, August 16, 2019

A new wave of affluent, digitally savvy Indians are willing to invest through financial algos

Kripa Mahalingam
The Money Code

Twenty-three-year-old Aryan works with one of Bengaluru’s leading technology companies. First time out of his home-town, he is soaking in the big city thrills thanks to his first job. With ride-share and co-living spaces, he isn’t looking to buy a car or a house. That was his dad’s dream. Instead, he wants to retire by 40!

His friend just started investing in mutual funds (MFs) and asked him to check out Scripbox. What he saw caught his interest: The online investment platform starts by telling you what 5,000 can get you — a few days at a resort with friends, an expensive date with someone special and, with a regular monthly investment for 17 years, a multimillionaire networth. The last one had him hooked and he started with the click of a button.

Bengaluru-based Scripbox is a fully automated advisory firm looking to onboard first-time investors, and provide them with advisory services. Scripbox is powered by algorithms that make investment recommendations based on the customer’s income details, risk profile and financial goals. This data is fed into an AI engine, which matches these parameters with investment products and delivers an optimal portfolio in real time. The robo advisor then rolls up its sleeves and begins to manage the portfolio, rebalancing it and ensuring tax-efficient return.

Robo advisory is the buzzword in India’s investment industry today. But like most things tech, the concept took birth in the US more than a decade ago. Back in 2008, after the crash, when investors were thoroughly disgruntled with the conventional ways of investing, with bankers and investment advisors playing foul with customers, a young American entrepreneur, Jonathan Stein launched an independent online advisory start-up called Betterment.

This story is from the OLB, August 16, 2019 edition of Outlook Business.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the OLB, August 16, 2019 edition of Outlook Business.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM OUTLOOK BUSINESSView All
Dynamic Women Achievers
Outlook Business

Dynamic Women Achievers

Discover the vibrant narratives of dynamic women achievers breaking barriers and reshaping the landscape across diverse fields. From trailblazing entrepreneurs to influential thought leaders, this article celebrates the resilience, innovation, and impactful contributions of women who defy norms, inspiring a new era of empowerment and progress.

time-read
6 mins  |
March 2024
Love Sex & Dhokha At Work Place
Outlook Business

Love Sex & Dhokha At Work Place

Not all office romances have a fairy-tale ending like the Obamas. In some cases, love turns sour and complications arise. No wonder HR honchos dread co-workers falling for each other and then falling apart

time-read
5 mins  |
March 2024
INVEST, REINVENT REJUVENATE
Outlook Business

INVEST, REINVENT REJUVENATE

The two-day Outlook Money 40After40 Retirement Expo saw experts speak on a variety of topics on retirement planning, including the need to start early, invest diligently, as well as avoid pitfalls in the market. The expo also focussed on wellness and celebrity perspective on the golden years

time-read
4 mins  |
March 2024
Women Break Through the Khaki Glass Ceiling In Bihar
Outlook Business

Women Break Through the Khaki Glass Ceiling In Bihar

The Nitish Kumar government has taken pioneering initiatives to increase women's participation in the police force, empower women and enable sensitive policing.

time-read
1 min  |
March 2024
Policy Booster for Industrial Development of Bihar
Outlook Business

Policy Booster for Industrial Development of Bihar

With its investor-friendly policies, the Nitish Kumar government has underlined Bihar's new identity as the Land of Industry’, which is widely known for its industrious people and hardworking labour force.

time-read
9 mins  |
March 2024
A NATION STUCK BETWEEN MISSING JOBS AND GROWTH AMBITIONS
Outlook Business

A NATION STUCK BETWEEN MISSING JOBS AND GROWTH AMBITIONS

India grapples with a job crisis fuelled by factors including high youth unemployment, educational and skill imbalance and low female participation, among others. In their book, The Elephant Moves: India’s New Place in the World, Amitabh Kant and Amit Kapoor explore India’s economic evolution through the lens of competitiveness, stressing the need for, and challenges to, policy changes in its run to becoming a developed economy by 2047

time-read
3 mins  |
March 2024
GETTING HER PRIORITIES RIGHT
Outlook Business

GETTING HER PRIORITIES RIGHT

Smita Jatia, vice chairperson of Westlife Foodworld, has donned many a hat—she is a wife, mother, grandmother, businesswoman, mentor and philosopher. While she feels there is no work-life balance for women, she believes it is important to set priorities and say no when necessary

time-read
3 mins  |
March 2024
START-UPS NO COUNTRY FOR WOMEN FOUNDERS
Outlook Business

START-UPS NO COUNTRY FOR WOMEN FOUNDERS

While India is third in the pecking order globally in the start-up ecosystem, women founders struggle to even get a start. Investors see them as less capable and hesitate to fund their ideas

time-read
5 mins  |
March 2024
TAPAN SINGHEL TRANSFORMING INSURANCE: EMBRACING THE DIGITAL REVOLUTION
Outlook Business

TAPAN SINGHEL TRANSFORMING INSURANCE: EMBRACING THE DIGITAL REVOLUTION

Digitisation has touched all industries, and the insurance sector is not far behind. There have been many changes post-Covid, but it is time to understand the next step in this journey. Digitisation has touched all industries, and the insurance sector is not far behind. There have been many changes post-Covid, but it is time to understand the next step in this journey. Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance, speaks about how digitisation can enable the interchange of data to develop capabilities that can benefit customers and save millions of lives. Edited excerpts:

time-read
7 mins  |
March 2024
AWARENESS, GUIDANCE KEY TO RETIREMENT PLANNING : V. VAIDYANATHAN
Outlook Business

AWARENESS, GUIDANCE KEY TO RETIREMENT PLANNING : V. VAIDYANATHAN

DFC First Bank has seen remarkable success in 2023, riding on impressive financial performance, with deposits growing at 40% thanks to customer-friendly banking initiatives and tools. In an exclusive interview, V. Vaidyanathan, managing director and chief executive officer of IDFC First Bank, speaks about the importance of retirement planning early in life, the emotions of those concerned and the tools for retirement planning which can provide financial security and peace of mind

time-read
5 mins  |
March 2024