SEB has launched iPad and iPhone applications, aimed at its foreign exchange clients, for download through the Apple App Store.
Much attention is being focused on the development of mobile apps that give clients access to a bank’s prices and research. As reported in Squawkbox last week, RBS Securities has launched an app for the iPad, providing instructional clients with US market information on rates and FX markets. Squawkbox understands that BNP Paribas and Nomura are close to releasing their own applications in the coming weeks.
Clients on the move can now access SEB’s latest research and spot rates on their iPhone or iPad devices after obtaining a username and password through their bank contact at SEB Trade and Capital Markets.
Pablo Landherr, head of FX development, says that while the two apps provide the same information, the way users interact with their devices and the size of the screen will most probably dictate what information is viewed where.
“The iPad is best for reading research, with SEB’s latest analysis delivered to the screen as a PDF. Users can instantly e-mail the report to their network or store it to be viewed off-line when there is time for more in-depth study. Mobile phone users, on the other hand, are more likely to log in while on the run to check spot rates on currency pairs and the latest trends, rather than read long texts,” Landherr says.
Other banks that have released iPhone apps include Citi, Credit Suisse – for its options trading platform Merlin, and JP Morgan, a pioneer in mobile technology. JP Morgan launched an iPhone app for its MorganDirect platform for institutional users early last year and before that made its platform accessible via Research in Motion’s Blackberry devices.
Banks have long relied upon cutting-edge technology as a way to retain existing customers or win over new ones. In a bourgeoning social media world, access to trading via products such as an iPhone and iPad apps has taken on even greater significance.