Keeping wealth clients appy
Market uncertainty and some recent financial services industry scandals have prompted investors to keep a closer watch on their money, with many resorting to smart devices, according to new research out of the US.
The new research from Celent claims market volatility, more workers approaching retirement, and the Madoff scandal have been some of the catalysts for more individual investors monitoring 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," it said. "These investors also expect their user experience to be equal to or better than other apps on their device."
The Celent analysis says it is more important than ever for both capital market and wealth management firms to offer apps to meet the needs of clients using what represents a new and growing electronic channel.
"It's also more important than ever to have apps that meet client expectations of a compelling experience on their device anytime and anywhere," it said. "Analysing usage helps firms develop new features to increase client usage, which can increase client satisfaction, improve retention, and help lower support costs."
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