20 October 2017
Gary Wright

Gary Wright

Gary Wright - BISS Research

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What about a SWIFT App on a mobile phone!

14 October 2010  |  3150 views  |  1

At this weeks annual corporate actions conference in New York a presentationby Gerrard Bermingham from Information Mosaic extolled the benefits of mobile technology carrying corporate action data to the investor. It is a really interesting prospect that could bring the decision making capability on a CA or proxy vote directly into the hands of the shareholder cutting out layers of risk and costs.

Of course during the debate the issue of security was raised. However surely this is old hat concerns as nearly everyone now days carrys out financial transactions over the web. Certainly passwords and the usual security measures found on the web would also be in play. If for example there was a particular contentious Proxy vote there would be closer scrutiny on voting to detect and unusual activity. The benefits outway any downside of this solution.

Creating an App for the mobile to be able to get into the hands of the retail investor would take time and it would need network providers, phone producers and Issuers among many to get involved. Even SWIFT under question accepted that they also could take part allowing web based messaging and access to their closed banking network. This really would be a red letter day. It shows though that SWIFT are finally moving with the times but i wont hold my breath.

Gerrard has opened up the possibility with his presentation and its worth debating the potential. I would be pleased to get the industry views on this        

Comments: (2)

Gerry Mellett
Gerry Mellett - Sterling Commerce UK Ltd - Uxbridge | 18 October, 2010, 10:04

Why not?  Business-centric and even business-critical mobile apps already exist today and, indeed, much of the groundwork has already been prepared.  But once again it seems that the technology it set to be exploited first by manufacturing, retail and in the supply lines between them.

The finance community will be quicker to follow this time however, but why should these mobile apps be restricted to corporate actions and the retail investor?  Let's get a range of these mobile tools covering FX, Trade Finance and ancillary services into the hands of corporate treasury teams. In fact, the ubiquity of mobile apps could be the catalyst for transforming banks' sell-side channels and getting more services into the hand of SMEs as well as the bigger treasury operations.

Perhaps a useful discussion to pursue next week in Amsterdam if anyone would like to drop by our stand (C216) for a chat?

 

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A Finextra member
A Finextra member | 19 October, 2010, 16:24

Yup Gerry, spot on!

Its always a problem getting change in FS but i am convinced that once the Ap box is open the Skys no limit

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CEO of B.I.S.S. Research, founder of the BISS Independent Accreditation for all systems and services provided to financial services companies internationally. Guest Lecturer at Reading University and...

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