Users of “smart devices” such as modern mobile phones have
come to expect a richer experience in tapping into links with their wealth
managers via apps, according to a new report by Celent, the financial research and
consultancy firm.

In a report, called North
American SnAppshot 2013: Capital Markets and Wealth Management, it reaches
findings including the point that apps can take to exploit devices such as cameras
to enable remote deposits and GPS functionality to help users find their nearest
branch office or ATM.

Financial services firms see higher demand for internal apps
from their employees. After earlier cutbacks, many financial companies are
launching “Bring Your Own Device” programmes that enable their employees to
access corporate systems through their personal devices.

The report adds to the debate about how wealth managers are, or
should be, exploiting developments such as social media, mobile devices and cloud
computing to improve client service, find new clients and keep costs under
control in an increasingly onerous regulatory environment.