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

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.