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Kamath shared a station that warned of nan “casinofication” of investing, wherever apps mimic gambling platforms to thrust activity. “More activity = much gross is nan strategy of nan full industry,” nan station read.
Zerodha co-founder Nithin Kamath is sounding nan siren connected Indian finance apps, informing that they’re flooded pinch manipulative “dark patterns” that softly nudge users into risky, costly decisions.
In a elaborate station connected X, Kamath pointed to a systemic rumor successful fintech: “It’s very difficult to consistently put customers first,” he wrote. “Finance apps are afloat of acheronian patterns, much than almost immoderate different category.”
These acheronian patterns—deceptive creation tricks—range from hidden exit buttons and forced consent to indebtedness offers embedded alongside trading. A 2024 study by Asci Academy and creation patient Parallel HQ recovered that 52 of India’s 53 apical finance apps utilized astatine slightest 1 specified tactic, pinch galore showing 5 aliases more.
Kamath shared a station that warned of nan “casinofication” of investing, wherever apps mimic gambling platforms to thrust activity. “More activity = much gross is nan strategy of nan full industry,” nan station read.
Gamification devices for illustration badges, leaderboards, and nudging alerts move investing into a game, encouraging overtrading—often astatine users’ expense. “If anything, ‘disengagement’ is nan champion point for investors.”
The station flagged really apps coming subtle “tips” and alerts—like “RELIANCE up 5%”—that look neutral but are designed to provoke trading. Other concerns see burying existent costs until checkout, making relationship closures difficult, and hiding basal accusation astir fees, risks, aliases returns.
One of nan biggest challenges successful building a financial services business is that nan incentives are often skewed toward doing what’s bully for nan business and not for nan customer. It’s very difficult to consistently put customers first.
This is 1 of nan main reasons why finance… pic.twitter.com/AZR1hiiIfb
It besides highlighted increasing privateness intrusions, pinch apps demanding wide permissions and search personification activity. “The word ‘tracking’ doesn’t rather make nan aforesaid affectional consequence arsenic ‘stalking,’” he noted.
Kamath emphasized that while nan unit to thrust gross is real, platforms must take semipermanent spot complete short-term gains. “Doing what’s correct for our customers has ever been astatine nan bosom of our philosophy,” Kamath wrote.
Published on: Jul 9, 2025 5:55 PM IST
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