With the onset of the Co-vid 19 pandemic many companies have transitioned their day-to-day activities into the digital realm and the Colombo Stock Exchange is no exception. Through the digitalization process that commenced from 2020 the CSE has introduced the Sri Lanka Colombo Stock Exchange Mobile App.
The app consists of a trilingual voice assistant function and allows a person to access their investor portfolio from anywhere in the world and gives the opportunity to view their past transactions. Furthermore the monthly statement provided enables requests to change to master files and investors can also access research reports through the app simplifying the overall user experience.
The new app allows for the CSE and SEC to reach out to the more tech-savvy investors and according to the latest data the app has resulted in over 17 000 new security deposit accounts and over 65 000 downloads from investors.
The Securities and Exchange Commission (SEC) noted that 97% of the total individual stock investment accounts were opened through the app since digitalization began in 2020 and also 84% of the total downloads have been done by investors within the 18-40 year age group.
The 2nd phase of digitalization began on the 7th of July with a ceremony attended by President Gotabaya Rajapaksa and will see local companies open new accounts via the app and would also allow investors to apply for IPO’s and assess the progress of their application.
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