iPad, Tablets, HTML 5 Poised to Help Financial Sector in a Big Way

In 2012, many people have learned to be wary of corporate banking, finance, and wealth management companies, which are currently viewed as both unfriendly and untrustworthy.

According to industry analysts at Ovum, one way to rebuild trust between those companies and their customers is by utilizing current technology, such as tablets, to increase usability and to make people feel more comfortable.

Using tablets instead of computers would make for a more interactive experience, because tablets are tactile and more easily shared among people.

Handing an iPad to a customer would allow the customer to see and update financial data in real time, creating a greater level of customer engagement compared to a laptop situated behind a desk. Such customer engagement would lead to a more personal feeling at financial meetings.

“The financial sector as a whole has come out of the global crisis with an urgent need to rebuild its credibility with a disillusioned public,” said Rik Turner, senior analyst at Ovum. “In certain sub-verticals such as wealth management, more “face-time” with the customer can help this rebuilding process.

In the report, Ovum also points out that consumers tend to divide their assets between different wealth management providers, and a well-conducted meeting that utilizes a tablet like an iPad could attract further business.

Ovum predicts that tablets will find their way into employee and customer interactions, especially as HTML5 becomes more prevalent. “HTML5 is becoming more robust and will gain momentum through 2012,” said Turner. “Features such as the ability to work offline, access on-device contact lists, and so on, are in development and although there is still a significant drawback to be addressed in the form of code security, this too may not be an insurmountable obstacle.”

With improvements to HTML5, and the shortcomings of downloadable apps (a different version for every operating system and browser) Ovum is expecting to see more and more companies choosing browser-based apps in the coming year.

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