In an era where technology is transforming the landscape of financial services, Mirae Asset Capital Markets has positioned itself at the forefront of innovation. The company has made significant strides in digital transformation, embracing cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and cloud computing to improve operational efficiency and customer experience.
Hari Nair, CTO at m.Stock by Mirae Asset Capital Markets, shares insights into the company’s technology strategy, its approach to security and compliance, and how it is leveraging new tools to stay ahead in the rapidly evolving financial sector.
Embracing AI and ML for enhanced market insights
Over the past few years, digital transformation has become a cornerstone of Mirae Asset Capital Markets’ strategy. Hari Nair explains, “We recognise the immense potential of AI and machine learning in driving innovation, particularly within equity trading. These technologies enable us to automate complex processes, improve market analysis, and make more accurate predictions.”
The integration of AI into platforms like m.Stock has enhanced the customer experience by allowing for more personalised trading strategies and data-driven decision-making. “AI has also empowered us to rapidly analyse vast amounts of data, uncovering patterns and trends that might have otherwise been overlooked,” Nair continues. “This has not only improved operational efficiency but has also increased the accuracy of trading decisions, helping Mirae Asset solidify its leadership position in the financial services industry,” he points out.
Securing the future: Balancing innovation and cybersecurity
In a sector where cybersecurity and data privacy are top priorities, Mirae Asset has taken significant steps to ensure robust protection of client data while embracing innovation. “Cybersecurity is non-negotiable in the financial services industry, and we’ve modernised our IT infrastructure by migrating to cloud-based solutions that enhance both security and scalability,” Nair notes. This shift allows the firm to handle more complex data sets while maintaining a high level of protection through multi-layered security systems, including encryption and firewalls.
“We also implement regular security audits and compliance checks to ensure that we’re adhering to the strictest regulatory standards,” Nair states, adding, “As we integrate emerging technologies, we are committed to maintaining a balance between innovation and security, ensuring that new tools like AI, blockchain, and machine learning enhance our services without compromising data privacy.”
Post-pandemic adaptations: Strengthening digital infrastructure for the future
The COVID-19 pandemic accelerated digital transformation across industries, and Mirae Asset was no exception. Nair highlights how the company adapted its technology roadmap in response to the sudden shift in work and client engagement, “The pandemic was a catalyst for change. It accelerated our adoption of cloud-based solutions and advanced technologies, allowing us to adapt quickly to remote work and digital client interactions.”
The company invested in enhancing digital platforms, including mobile apps and online portals, to provide real-time access to financial services, personalised investment advice, and more intuitive user experiences. “We also adopted virtual engagement tools, including video conferencing and webinars, to maintain strong client relationships during a time when in-person interactions were limited. This shift not only ensured business continuity but also created a foundation for future-ready digital experiences,” he says.
Innovating customer experience: A proactive approach to client communication
One of the standout projects at Mirae Asset has been its proactive customer notification system. “During market volatility, we noticed an increase in customer support queries, which often led to longer turnaround times,” Nair explains. “To address this, we developed a Customer Experience platform integrated into our m.Stock app. This system proactively communicates important information related to customer accounts, transactions, and other profile changes.”
By providing real-time updates directly to customers, the firm has significantly reduced the volume of support calls and emails. “This has not only enhanced customer satisfaction but also allowed our support team to respond more efficiently to more complex issues. It’s a clear example of how technology can streamline operations and improve customer experiences,” Nair adds.
Cloud computing: Fueling scalability and agility
Cloud computing plays a central role in Mirae Asset’s technology infrastructure. Nair underscores the importance of this shift, and states, “We’ve migrated from on-premises systems to cloud-based solutions to improve scalability and operational efficiency. With cloud computing, we can scale our IT resources quickly in response to fluctuating market demands, particularly during peak trading hours.”
Cloud infrastructure also allows Mirae Asset to automate and streamline IT resource management, reducing operational complexities and costs. “This provides us with the agility to innovate rapidly and stay competitive in an increasingly fast-paced market,” Nair concludes.
Looking ahead: The future of capital markets and emerging technologies
Looking to the future, Hari Nair is particularly excited about the potential of blockchain and RegTech solutions. “Blockchain will transform the financial sector by enhancing transaction security and transparency, reducing fraud, and increasing trust,” he states, pointing out that at the same time, RegTech will streamline compliance processes, making it easier for financial institutions to meet regulatory requirements.
Nair further predicts that AI and machine learning will continue to drive personalised customer experiences. “The integration of ESG (Environmental, Social, and Governance) considerations will play a pivotal role in shaping responsible investing. Together, these innovations will not only improve operational efficiency but also create a more transparent, secure, and customer-centric financial ecosystem,” he mentions.
Preparing for the future of financial services
Mirae Asset Capital Markets’ commitment to embracing emerging technologies, enhancing security, and fostering a client-centric culture positions it for continued success in an increasingly digital world. As Hari Nair puts it, “The future is about adaptability, security, and delivering value to our clients through innovative technology. We’re excited about the opportunities that lie ahead and the role we can play in shaping the next generation of capital markets.”