The Impact of Mobile Technology on the Financial Services Industry

The development of mobile technology has revolutionised our lives. No longer do we have to head into the nearest town centre to shop; instead, we can do it all online. No longer do we have to travel to the bank when we need to see an overview of our accounts; we pull up the information on our phones. No longer do we have to strike up conversations in coffee shops and bars to meet new people; we do it simply by bringing up an app on our screens.

Little wonder, then, that this revolution has spread to the financial services industry. Investing wears a very different face today to the one it donned even 10 years ago. Technology reigns supreme, and mobile technology is the king of all.

Enterprises like ETX Capital know that no self-respecting trader wants to be without that magic little insight into their accounts, and they have catered to this need accordingly. The result has been radical. Here, we look at exactly what it’s meant for brokers and traders alike…

Trading Anywhere and at Anytime

The greatest freedom of mobile technology is the ability to trade on the go. It doesn’t matter where traders are or what they’re doing; if they want to make a move, all that they need do is pull up the relevant window on their phones.

On the train, in their lunch hour, or at home in the evening with a glass of wine in hand, the financial markets are ever at their fingertips, and this has made such ventures more accessible than ever.

No longer do days have to be devoted to trading; now, trading can be engineered to fit into an existing lifestyle. The flexibility this provides has proved intoxicating, and many cite it as a key cause for the burgeoning popularity of investing amongst the general populace.

Up-to-Date Information

We have already discussed the flexibility offered by mobile trading technology, but the increased accuracy of the information that traders have to work with cannot be overlooked.

Decisions are rarely made in an instant; rather, they are often the result of hours of consideration, and where this is the case, having constant access to the most contemporary statistics is invaluable.

With mobile technology, one need only pull up the relevant charts and information on their screen to reconsider a position. The result? Increased rates of trading success, increased profits, and improved trader satisfaction.

Increased Appeal

Considering the two points raised above, it should come as little surprise that many experts attribute the increased allure of trading in recent years to mobile technology.

No longer is it the preserve of the professional trader or those moneyed enough to hire a discretionary broker to act on their behalf; now, anyone can find the time in their day to trade, even if they’re working around a full-time job and a young family.

In an era where everything is expected to be laid out at our fingertips, the financial services industry has played an astute game by seeing the potential of mobile technology and seizing upon it. They have made it everyman’s opportunity, and in doing so have secured its relevance, popularity, and accessibility in the midst of our 21st century lives.

What more could mobile technology have done but this: turn an old boy’s preserve into a pastime for all?

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Ben Rossi

Ben was Vitesse Media's editorial director, leading content creation and editorial strategy across all Vitesse products, including its market-leading B2B and consumer magazines, websites, research and...

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