North American SnAppshot 2013: Capital Markets and Wealth Management
Our Annual Update on Mobile Apps
Most capital market firms, wealth managers, and online brokers have websites that clients can access from their smart mobile devices. However, smart device users have come to expect a richer, more dynamic experience through apps installed on their smartphones and tablets.
In the report North American SnAppshot 2013: Capital Markets and Wealth Management, Celent examines mobile device growth trends as well as key business and technical considerations for firms launching or updating client apps. Apps deliver a more compelling experience through better graphics and video content, which is critical for individual and professional investors. This annual update looks at the business and technology issues firms and providers will face in the mobile device and app segments in 2013.
Market volatility, more workers approaching retirement, and the Madoff scandal are some of the catalysts for more individual investors to monitor their investments and accounts more closely. Although most investors can access their wealth management accounts online, many own smart devices and want to use an app to access their account. These investors also expect their user experience to be equal to or better than other apps on their device.
“There are multiple catalysts for the release of new apps and updates to existing apps in capital markets and wealth management,” says Bill Fearnley, Jr., Senior Analyst with Celent’s Securities & Investments Group and author of the report. “It’s important for firms to release apps in order to remain competitive.”
Online brokers have been pioneers in providing online trading tools and making trading available through apps for smart devices. The key driver for online brokers releasing apps was that they wanted to make sure traders, especially active traders, had the information and tools necessary to trade anytime and anywhere on smart devices.
This 22-page report contains one figure and 12 tables.