Investment banks turn to iPad apps
There's little question that the iPad is on its way to enterprise dominance on Wall Street.
Simply put, the biggest banks are enamored with the device, and that has more than made up for Apple's traditional lack of enterprise tools. The big dogs at the top companies want the device for their office work, and they increasingly want the device to enable customer activity. Deutsche Bank, for example, which offered a prime brokerage app recently, recently said it will offer research, stock trading, post-trade and other services for their agency clients, reports the Financial Times.
Other banks have been moving in this direction as well. "Earlier this year, Citigroup launched an iPad app for issuers of securities, allowing them to track bids on equity sales as they come in. Barclays Capital created an iPad app that included its BARX electronic execution platform, and Credit Suisse has an app for its Merlin platform that executes foreign-exchange derivatives trades. Nomura launched an iPad app for clients of its convertible bonds desk."
Symbolically speaking, this was a PR coup: On the day LinkedIn's initial public offering priced on the New York Stock Exchange, company executives were using iPad apps created by Morgan Stanley to monitor the price. It's fair to say that Playbook app development is not keeping pace. That said, many are finding that developing for the iPad and Android devices simultaneously is not arduous. And there still may be room for a competitor.
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