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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

iPad - just a new device, or a new way of doing business?

22 September 2010  |  6319 views  |  0

It allows corporate finance to demonstrate its products in real time and with live data in its clients’ offices; it is a conduit for research information; it’s tool for distributing trader insight. But haven’t we always been able to do this? Surely real time product demonstration can be done on laptops? Information can be made immediately available to clients at their desks. Is the iPad really a game-changer for the investment banking sector?

The concept of mobility in technology terms has taken a huge leap in the past year with the ubiquity of smart phones, the rise of the tablet and the momentous arrival of the iPad to shake the market up. The always-on generation expects to receive and process large amounts of information easily and remotely.

The iPad of course, also invites the creation of new applications (still successfully peddling the build it and they will come approach). This has encouraged even investment banks to consider how to use this most portable and intuitive of devices.  They’re already looking at adapting trader contents (data, etc.) so that they may be delivered and consumed over this new mobile channel. Information and insight from traders to the bank’s clients can now be communicated using mobile apps and Morgan Stanley launched its research product last month, enabling its institutional clients to view reports on fixed income markets, stocks, currencies and economics.

Whether the iPad’s moment lasts or it is usurped by something newer and better, the improved, one-touch access to a bank’s data is what clients are now demanding. Mobility is all about accessibility and ease-of-use. It’s not just the new delivery mechanisms which have made taking a laptop to a meeting a bit last century, but the flexibility which mobile devices offer, the ease with which the bank’s data can be accessed, distributed...and paid for...this is where the iPad is already having an effect on the way we do business.

Graham Underwood, Managing Director, GFT UK.

 

 

 

Comments: (2)

A Finextra member
A Finextra member | 23 September, 2010, 10:39

I agree with you Graham, somehow it changes the game. If you ever used an iPad, you know how it feels to touch the data, forms and charts. It is a much closer experience compared to the laptop screen, so feeling that i can touch an investment product before buying it can make a difference.

 

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A Finextra member
A Finextra member | 24 September, 2010, 09:03

Thanks Jozsef. It’s interesting how the accessibility and ease-of-use of the iPad seems to be improving sales opportunities. We shall see how it plays out long term...

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