Analyst: iPad Could Be Key To Rebuilding Trust In Financial Industries

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Can the iPad help rebuild trust in the finical industry
Can the iPad help rebuild trust in the financial industry?

Can the iPad help finance, wealth management, and corporate banking companies rebuild a sense of trust with their customers after the global financial crisis? According to the analysts at Ovum, the answer is yes.

Analysts at the research firm released a note this week noting that the iPad (and tablets in general) is a perfect tool for the industries, which are often dominated by in-person “face-time” meetings.

Ovum notes that tablets offering a slick professional look, as well as tactile qualities, will help facilitate a more interactive experience.

The ability to hand an iPad or other tablet to customers, immediately update data in real time, and the added level of customer engagement compared to a laptop are all advantages in other industries and could be key factors in helping to rebuild financial relationships by giving them a more personal feel.

Rik Turner, senior analyst at Ovum and author of the report, described a sense of trust and personal contact as major tablet advantages.

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. In certain sub-verticals such as wealth management more “face-time” with the customer can help this rebuilding process.

One interesting argument from Ovum’s press release is that a tablet in itself may be a competitive advantage, particularly in meetings where a client works with multiple wealth management or corporate banking companies.

Furthermore, as most divide their assets up to be managed by different wealth management providers, a well-executed meeting carried out with the aid of a tablet may attract further business away from a competitor.

I’d posit that the iPad would most likely be a competitive advantage over any other tablet in such meetings because of the brand awareness of the iPad in both consumer and professional markets.