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Nithin Kamth Slames ‘Dark Pattern’ in Finance Apps, says how Xerodh stays clean

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The founder and CEO of Xerodh Nithin Kamth noted on Wednesday that the design tricks used in financial applications and websites are intentionally made to do things that are not in their best interest. Referring to these tricks as a ‘dark pattern’, Kamath said that the business of financial services is often turned to what is good for business, not for consumers.

“…. Finance apps are full of dark patterns, more than almost any other category. Dark patterns are design tricks used in applications and websites that are not in your best interest.

It also described it as a challenge for financial services companies, the founder of Zerosh said that “it is very difficult for consumers to be first consistently”.

“The biggest challenge to create a business of financial services is that incentives are often turned towards doing what is good for the business,” the tweet said.

Kamath claims in his tweet that Xerod avoids these practices from the first day, thus building the Xerod application users.

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      The tweet further said, “Xerod users trust their money is one of the reasons because we have avoided these practices since one day. What is right for our customers is always at the center of our philosophy.”

      Also Read: Jane Street Fa All Lout: Zerodh’s Nithin Kamath Flag Risk for Flag Brokers and Stock Exchanges

      He also shared a record video breaking the most common dark patterns in finance applications.

      The billionaire businessman recently shared his views on Fintech companies to add AI facilities to their broking platform. He explained why Xerodha has deliberately left behind enabling the AI-powered order placement, the founder and CEO Nithin Kamath said in a tweet on his official X handle.

      It is a deliberate choice, discount brokerage creates as a long -term vision of being relevant in the industry which is big on automation, he said.

      Read More: Why Nithin Kamath has deliberately left back to enable AI-powered order placement

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