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

Post on June 24, 2011

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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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