Vanguard, TIAA-CREF Named Asset Management Leaders in Mobile Finance

Post on June 24, 2011


May 2011 was the most active month for mobile technology launches, the report found, with smartphone apps from Ameriprise and Charles Schwab, and iPad-specific apps from Bank of America and Chase. PNC Bank, Charles Schwab and Fidelity also offered mobile check deposit capabilities.

“Leading up to our publication, there was a lot of activity [in the mobile technology space], and it will continue in the near future,” Dan Wiegand, (left), senior analyst at Corporate Insight and author of the report, told AdvisorOne.

While almost one-quarter of respondents agreed that it’s too early to tell what impact mobile technology will have on their business, over two-thirds agreed that so far the response has been at least somewhat positive. Seventy percent of respondents said that their firm should “definitely” provide mobile tools, while 80% said it was very important to their customer service strategy to provide such tools.

“The benefits offered by a strong mobile platform are clear,” Wiegand said in a statement. “By embracing mobile, companies can reduce servicing costs, improve client satisfaction and position themselves as industry innovators.”


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